1116 Lal Lal Street
793 days on Market

1116 Lal Lal Street,
Buninyong, Vic

house
20200m²
First listed on 12/10/2022
Property Overview
Bedrooms4
Bathrooms2
Car Spaces4
Current Asking Price

$1.8M

Cash Required (10% Deposit)

$298,898

Agent

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Market Appraisal

Confidence

High

High

$2,000,000

Medium

$1,800,000

Low

$1,600,000

Appraised Rent

Confidence

Medium

$800/week

Original Listing

Street Statistics

Public Housing (%)

0%

Owner Occupiers (%)

92.2%

Median Street Sold Price

$960K

Median Street Rental Yield

3.8%

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Property Investment Scores

Property

Configuration

Very Good

Street

Sweet Spot

Very Good

Suburb

Proj. Growth

Very Good

Overall

Investment

Very Good

Under Market Value

$170,000

Net Cashflow PA

-$44,497

Gross Yield

2.5%

Purchase Costs

Asking Price

$1,800,000

Estimated Purchase Price

$1,630,000

Stamp Duty

$89,650

Transfer Fee

$3,616

Conveyancing

$1,196

Deposit (10%)

$163,000

Reg. Mortgage

$129

LMI Premium

$51,003

Renovation Costs

-

Total Cash/Equity Required

$309,144

Income Statement (Cashflow)

Income

Assumptions

Year 1

Year 10

Rent Received

+4.0% PA

$41,600

$59,210

Expenses

Property Management

+7.7% PA

$3,203

$4,559

Rates

+3.0% PA

$1,877

$2,449

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

$33,255

$47,941

Interest Repayments

$96,822

$96,822

Net Cashflow Before Tax

-$63,567

-$48,881

Depreciation

-

-

Tax Offset

-$19,070

-$14,664

Net Cashflow After Tax

-$44,497

-$34,216

Balance Sheet

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Assets

Assumptions

Year 1

Year 10

Property Value

6.8%

$1,922,400

$3,475,242

Liabilities

Loan Balance

I.O

$1,467,000

$1,467,000

Net Equity

$455,400

$2,008,242

Property Inspection Report

Property Overview

Buninyong offers an incredible lifestyle on the outskirts but with town services, a rarity for a 5-acre property. This home features a north-facing design, 4 bedrooms plus an office, and formal and informal living spaces. High-quality kitchen cabinets, electric cooking, and ample space make cooking a delight. Modern conveniences like a double garage, heating and cooling systems, and an impressive alfresco area add comfort. Unique to this property are a private creek, lockable shed, solar electricity, and potential for future subdivision.

Inspection Checklist

  • Verify town service connections including sewer and natural gas.
  • Check the functionality of the bore for garden irrigation.
  • Examine the potential for future subdivision and any required permits.
  • Assess the condition of double glazing, heating systems (zoned gas central heating, split system, gas log fire), and cooling systems.
  • Inspect the overall condition and features of the alfresco area.
  • Inspect the roof and plumbing for any needed repairs.
  • Verify the condition of the lock shed including power supply and concrete flooring.
  • Evaluate the efficiency of the solar electricity system.
  • Walk through the property to admire the old growth gums and private creek.
  • Clarify land boundaries and fencing conditions around the paddock and garden.

Questions for Agent

  • Can you provide more details on the town services available, including the age and condition of these systems?
  • How is the bore water quality and how often is it used for irrigation?
  • What current zoning allows for subdivision, and what process is involved to proceed with it?
  • What recent maintenance or upgrades have been completed on the heating and cooling systems?
  • Can you elaborate on the age and maintenance history of the double glazing and alfresco area?
  • What type of solar panel system is installed and is there any remaining warranty?
  • Are there any current issues with the creek or dam that need attention?
  • How often does the electricity bill get offset by the solar system?
  • Are there any easements or local council conditions affecting the use of the land?
  • What are the neighbors like and what is the overall community feel in the area?
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Location Opportunity

City of Ballarat statistics

Location, Location, Location. Selecting an investment location set to grow, gentrify and prosper can set our investments up for success. So how do we find these High Performance locations across Australia? Property Investment is a science. Our Data Scientists have analyzed the most important factors that help identify when an area is set up for strong investment opportunities.

113,763

2021 Population

56

Suburbs

Demand

Employment

Em

New project

Pr

lifestyle

Li

population

Po

Supply

New Supply

Su

Opportunity

Opportunity

Op

Em

Employment Industries
Average

Health Care and Social Assistance - 19.0%

Retail Trade - 12.0%

Education and Training - 11.0%

Manufacturing - 9.0%

Others - 49.0%

income growth
Average

Average Income

COMMUTE TIME

26mins

13kms

Good

Pr

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Spent Per Capita

$13K
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8

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Community & Other servicesUnder consideration
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Community & Other servicesComplete
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16

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17

Victorian Government

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18

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Transport & StorageUnder consideration
$25M
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Li

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Local Services

Good

1

Albert St/Giffard St

Bus Stop

2km
2

Woolworths

Supermarket

6km
3

Coles

Supermarket

6km
4

Bunnings

Shopping Centre

9km
5

Bunnings

Shopping Centre

11km
6

Avalon Airport

Airport

85km
7

Melbourne Airport

Airport

96km
8

Ballarat Day Procedure Centre

Hospital

7km
9

Ballarat Surgicentre

Hospital

8km
10

Miners Rest Primary School

School

2km
11

Yuille Park P-8 Community College

School

5km
12

Our Lady Help of Christians School

School

5km
13

Federation University Mt Rowan Campus

University

6km
14

Australian Catholic University, Ballarat Campus

University

9km

Po

Population Growth

Average Population

SUPPLY vs POPULATION
Under Supply

Projected Population Growth

6.5%

projected

for 2025 to 2027

Very High

Su

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Recent New Home Construction

2.4%

High
SALES PRICE GROWTH

Monthly % Change in Median House Prices (Prev. Quarter)

RENTAL YIELD
Excellent

Average Rental Yield

VACANCY RATE
Excellent

Average Vacancy Rate

Days of Supply
Excellent

Average Days of Supply

Owner Occupier Level

No data available

VENDOR DISCOUNTING
Very Good

Average Population

Pricing

Sold Price

Asking Price

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