$2.95M
$622,453
"Make no mistake Morris Bros 471 acres for sale at Eleven Mile Creek Road, Glenrowan West is a gem of a grazing property with an outstanding sheltered landscape and proven productive history. Whilst views dont raise beef, in this case they are an amazing bonus and an integral part of the attractive undulating country and rising southern reaches of its sheltered valley catchment. With frontages to both the Eleven Mile Creek Road and to the GretaGlenrowan West Road, the 190.7ha is well fenced and watered. There are thirteen main paddocks watered from eight strategically sited surface catchment dams. The property currently carries a healthy cover of native grasses and a balance of local shade timber together with a valuable copse of original timber. With a predominant drainage fall to the northeast, the land types range from slightly rising and well drained gentle slopes on the Eleven Mile Creek Road frontage to encompass risingundulating slopes forming the perimeter of an attractive and well drained valley catchment. The property is immediately attractive and presents as productive versatile grazing with inherent potential for improvement. It is located 20km from Wangaratta 14km from Benalla and 5km east of Winton. Contact Brett Goodwin on 0408 574 966 for more information"
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2021 Population
Suburbs
Health Care and Social Assistance - 14.0%
Manufacturing - 11.0%
Agriculture, Forestry and Fishing - 10.0%
Retail Trade - 9.0%
Others - 56.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Days of Supply
Sold Price
Asking Price
-
93.2%
-
-
-$2,735,000
-$124,638
0.5%
0.3%
-20.5%
6.0%
Asking Price
$2,950,000
Estimated Purchase Price
$3,170,000
Stamp Duty
$186,050
Transfer Fee
$3,616
Conveyancing
$1,196
Deposit (10%)
$317,000
Reg. Mortgage
$129
LMI Premium
$99,191
Renovation Costs
-
Total Cash/Equity Required
$607,731
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$16,640
$23,684
Property Management
+7.7% PA
$1,281
$1,824
Rates
+3.0% PA
$1,850
$2,414
Water
+3.0% PA
$1,015
$1,324
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
$10,244
$15,186
Interest Repayments
$188,298
$188,298
Net Cashflow Before Tax
-$178,054
-$173,112
Depreciation
-
-
Tax Offset
-$53,416
-$51,934
Net Cashflow After Tax
-$124,638
-$121,178
Assumptions
Year 1
Year 10
Property Value
6.8%
$464,580
$839,850
Loan Balance
I.O
$2,853,000
$2,853,000
-$2,388,420
-$2,013,150
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