5 Claire Court
Property Rating: 97
68 days on Market

5 Claire Court,
Kurunjang, Vic

house
First listed on 25/10/2024
Property Overview
Bedrooms4
Bathrooms2
Car Spaces4
Current Asking Price

$649K

Cash Required (10% Deposit)

$105,837

Agent

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Market Appraisal

Confidence

High

High

$710,000

Medium

$670,000

Low

$630,000

Appraised Rent

Confidence

Medium

$450/week

Original Listing

Street Statistics

Public Housing (%)

4.8%

Owner Occupiers (%)

74.5%

Median Street Sold Price

$518K

Median Street Rental Yield

4.3%

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Property Investment Scores

Property

Configuration

Very Good

Street

Sweet Spot

Average

Suburb

Proj. Growth

Very Good

Overall

Investment

Very Good

Under Market Value

$50,000

Net Cashflow PA

-$14,055

Gross Yield

3.8%

Purchase Costs

Asking Price

$670,000

Estimated Purchase Price

$620,000

Stamp Duty

$32,270

Transfer Fee

$1,557

Conveyancing

$1,196

Deposit (10%)

$62,000

Reg. Mortgage

$129

LMI Premium

$17,679

Renovation Costs

-

Total Cash/Equity Required

$115,379

Income Statement (Cashflow)

Income

Assumptions

Year 1

Year 10

Rent Received

+4.0% PA

$23,400

$33,305

Expenses

Property Management

+7.7% PA

$1,802

$2,565

Rates

+3.0% PA

$1,584

$2,067

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

$16,749

$24,414

Interest Repayments

$36,828

$36,828

Net Cashflow Before Tax

-$20,079

-$12,414

Depreciation

-

-

Tax Offset

-$6,024

-$3,724

Net Cashflow After Tax

-$14,055

-$8,690

Balance Sheet

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Assets

Assumptions

Year 1

Year 10

Property Value

6.8%

$715,560

$1,293,562

Liabilities

Loan Balance

I.O

$558,000

$558,000

Net Equity

$157,560

$735,562

Property Inspection Report

Property Overview

Explore this charming family home in a desirable Kurunjang neighborhood. Set on a generous 790 m2 plot, this property offers spacious living with a well-landscaped front yard and car accommodation. The home features a roomy master bedroom with an ensuite and walk-in wardrobe, and three additional bedrooms equipped with built-in robes. Enjoy modern amenities in the kitchen with its appliances and ample storage, adjacent to an open-plan living and dining area. A large pergola allows for year-round outdoor entertaining. The secure, astroturfed yard is perfect for kids and pets, with garden sheds, a greenhouse, and side access. Special features include ducting, air conditioning, security doors, and solar panels. Viewing requires photo ID.

Inspection Checklist

  • Verify the size of the land (790 m2) and its boundaries.
  • Inspect condition and functionality of modern appliances in the kitchen.
  • Check for any maintenance issues in the ensuite and central bathroom.
  • Examine the condition of the astroturf and identify its age.
  • Assess the structural integrity and any necessary maintenance of the pergola.
  • Evaluate security features, such as security doors and windows.
  • Confirm the functioning of ducted heating, evaporative cooling, and split systems.
  • Inspect the solar system and inquire about its energy efficiency and age.
  • Investigate the condition of garden sheds and greenhouse.
  • Check the legitimacy of the land title and ensure no encumbrances.
  • Note any signs of potential water damage or leaks indoors or outdoors.

Questions for Agent

  • Can you provide more details about the history of the solar system? Is there any warranty left?
  • What is the age of the roof and when was it last inspected?
  • Are there any known issues or recent repairs in the home, such as plumbing or electrical?
  • Could you clarify the zoning laws and any restrictions related to the property?
  • How old is the astroturf and what is the maintenance routine to keep it in good condition?
  • What are the average utility costs for this property, considering the existence of a solar system?
  • Have there been any pest inspections done recently? If so, can you provide the report?
  • Is there any potential for future development or neighborhood changes that could impact the property?
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Location Opportunity

City of Melton 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.

178,960

2021 Population

18

Suburbs

Demand

Employment

Em

New project

Pr

lifestyle

Li

population

Po

Supply

New Supply

Su

Opportunity

Opportunity

Op

Em

Employment Industries
Diverse

Retail Trade - 14.0%

Education and Training - 14.0%

Construction - 11.0%

Health Care and Social Assistance - 10.0%

Others - 51.0%

income growth
Low

Average Income

COMMUTE TIME

29mins

15kms

Good

Pr

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Spent Per Capita

$7K
1

SUEZ Australia

A new recycling facility that will process up to 50000 tonnes of waste per year

ManufacturingUnder construction
$25M
2

Patties Foods

A new food manufacturing facility that will produce a range of frozen food products

ManufacturingConfirmed
$30M
3

Melton City Council

A proposed manufacturing precinct that will provide a range of industrial land for businesses

ManufacturingUnder consideration
$50M
4

Melton City Council

A renewable energy project that aims to reduce the citys carbon footprint

Energy, Electricity, Gas & WaterUnder construction
$25M
5

Western Water

An upgrade to the existing water recycling plant to increase its capacity

Energy, Electricity, Gas & WaterConfirmed
$30M
6

AusNet Services

An upgrade to the existing electricity network to improve reliability and capacity

Energy, Electricity, Gas & WaterUnder consideration
$40M
7

Boral Limited

The Melton Quarry is a hard rock quarry located in the Local Government Area of Melton Victoria The quarry will supply construction materials to the growing western suburbs of Melbourne

MiningUnder construction
$25M
8

Hanson Australia

The Toolern Quarry is a proposed hard rock quarry located in the Local Government Area of Melton Victoria The quarry will supply construction materials to the growing western suburbs of Melbourne

MiningConfirmed
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9

Holcim Australia

The Melton Sand Pit is a proposed sand pit located in the Local Government Area of Melton Victoria The sand pit will supply sand to the growing western suburbs of Melbourne

MiningUnder consideration
$20M
10

Victorian Government

The Melton Hospital Expansion project will deliver a new hospital with increased capacity and services to meet the growing needs of the local community

Community & Other servicesUnder construction
$200M
11

City of Melton

The Melton Library and Learning Hub will provide a modern and inclusive community space for learning recreation and social connection

Community & Other servicesConfirmed
$30M
12

City of Melton

The Melton Community Centre will provide a vibrant and inclusive space for community activities events and services

Community & Other servicesUnder consideration
$25M
13

Victorian Government

The Melton Youth Justice Centre will provide a secure and supportive environment for young people in the justice system

Community & Other servicesUnder consideration
$150M
14

Victorian Government

The Melton Hospital Redevelopment project will deliver a new hospital with increased capacity and modern facilities to meet the growing healthcare needs of the Melton community

HealthUnder construction
$148M
15

Djerriwarrh Health Services

The Djerriwarrh Health Services Redevelopment project will deliver a new hospital with modern facilities and increased capacity to meet the growing healthcare needs of the Melton community

HealthConfirmed
$30M
16

VicRoads

The Melton Highway Upgrade will improve safety and reduce congestion on the highway

Transport & StorageUnder construction
$243M
17

Public Transport Victoria

The Melton Rail Upgrade will improve rail services and increase capacity on the line

Transport & StorageConfirmed
$150M
18

Qube Holdings

The Toolern Creek Freight Terminal will provide a new freight hub for the region

Transport & StorageUnder construction
$100M
19

Melton City Council

A 30m revitalisation of the Melton Town Centre including new shops restaurants and community facilities

Mixed useUnder construction
$30M
20

QIC

A 40m expansion of the Woodgrove Shopping Centre including new retail and dining options as well as a new cinema complex

Mixed useConfirmed
$40M
21

Frasers Property Australia

A proposed 25m mixeduse development in Melton West including residential retail and commercial spaces

Mixed useUnder consideration
$25M
22

Lendlease

A proposed 20m mixeduse development in Toolern including residential retail and commercial spaces

Mixed useUnder consideration
$20M
23

Melton City Council

The Melton Business Park will provide a range of commercial and industrial land opportunities for businesses

Finance, Property & Business servicesConfirmed
$50M
24

Private Developer

The Toolern Creek Business Park will provide a range of commercial and industrial land opportunities for businesses

Finance, Property & Business servicesUnder consideration
$30M
25

Melton City Council

A 25 million redevelopment of the Melton Civic Centre including a new library community centre and council offices

AccommodationUnder construction
$25M
26

Tabcorp

A 20 million hotel and convention centre development at Tabcorp Park featuring 120 rooms and conference facilities

AccommodationComplete
$20M
27

Private Developer

The Melton Business Park project involves the development of a new industrial estate with office and warehouse spaces to support local businesses

TradeConfirmed
$50M
28

Private Developer

The Toolern Creek Development project involves the construction of a new residential and commercial precinct with a focus on sustainability and community facilities

TradeUnder consideration
$30M
29

Victorian Government

The Melton Rail Upgrade project involves the upgrade of the rail line and stations to improve public transport services and reduce congestion in the region

TradeUnder consideration
$100M
30

Melton City Council

The project aims to improve the councils digital infrastructure and enhance communication with the community

CommunicationUnder construction
$25M
31

Telstra

The project aims to upgrade Telstras mobile network in Melton improving coverage and capacity for residents and businesses

CommunicationConfirmed
$30M
32

NBN Co

The project aims to deliver highspeed fibre broadband to premises in Melton improving internet connectivity for residents and businesses

CommunicationUnder construction
$40M
33

Southern Rural Water

The Melton Irrigation District Modernization project aims to upgrade the existing irrigation infrastructure to improve water efficiency and reduce energy consumption

Agriculture, Forestry & FishingUnder construction
$25M
34

Werribee Irrigation Area Inc.

The Werribee Irrigation Area Expansion project involves the development of new irrigation infrastructure to support the growth of agricultural production in the region

Agriculture, Forestry & FishingConfirmed
$30M
35

Melton Fish Farm Pty Ltd

The Melton Fish Farm project proposes the development of a new fish farm to produce highquality fish for the domestic market

Agriculture, Forestry & FishingUnder consideration
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Private Developer

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Li

Local Services

Very Good

1

Norton Dr/High St

Bus Stop

2km
2

Cobblebank Railway Station

Train Station

3km
3

Coles

Supermarket

5km
4

Woolworths

Supermarket

5km
5

Bunnings

Shopping Centre

13km
6

Bunnings

Shopping Centre

14km
7

Melbourne Airport

Airport

20km
8

Melbourne-Essendon Airport

Airport

24km
9

Melton Health

Hospital

6km
10

Sydenham Day Surgery

Hospital

12km
11

Melton Primary School

School

4km
12

St Dominics School

School

4km
13

Kurunjang Secondary College

School

4km
14

University of Melbourne

University

32km
15

Charles Sturt University Study Centres, Melbourne

University

32km

Po

Population Growth

Average Population

POPULATION vs SUPPLY
Under Supply

Projected Population Growth

15.2%

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

1.9%

High
SALES PRICE GROWTH

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

RENTAL YIELD
Excellent

Average Rental Yield

VACANCY RATE
Very Good

Average Vacancy Rate

Days of Supply
Very Good

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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