$410K
$72,673
"Nestled in a popular Mitchell Park estate, this property boasts a charming street presence and is conveniently situated moments from the Walter Drive Playground and Reserve. It also offers fantastic commuting options to Melbourne via the Western Freeway. Easy access to Wendouree shopping precinct via Learmonth Road, as well as a quick route to Lucas township via the Ring Road. This charming brick home on its own title, offers a lowmaintenance lifestyle in a serene location. Step inside to discover an inviting open plan layout, seamlessly connecting the kitchen, dining, and lounge areas. Entertaining is a delight with direct access to the outdoors, perfect for gatherings with friends and family. The kitchen is a standout feature, boasting a wellappointed design with a pantry, stainless steel appliances, generous bench space, and a convenient dishwasher. Each of the three bedrooms is equipped with builtin robes, ensuring ample storage, while large windows flood the rooms with natural light. The main family bathroom is thoughtfully designed with a shower, vanity, and bath, complemented by a separate toilet for added convenience. The laundry offers additional storage space and easy access to the lowmaintenance backyard. Throughout the home, central heating ensures comfort and warmth during the cooler months. For added convenience and security, the garage provides direct access to the home, while a roller door at the rear offers easy access to the backyard, making gardening tasks a breeze. Situated on a 337m block, this property offers the perfect blend of comfort and convenience. With vacant possession available, this makes it the ideal first home or downsizer. With an estimated rental return of 350 390 per week, it presents an ideal investment opportunity to set and forget. Whether youre entering the property market for the first time, seeking a reliable investment, or downsizing to a more manageable lifestyle, this maintained singlelevel home is a must see."
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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.
2021 Population
Suburbs
Health Care and Social Assistance - 19.0%
Retail Trade - 12.0%
Education and Training - 11.0%
Manufacturing - 9.0%
Others - 49.0%
Average Income
Average Population
projected
for 2024 to 2026
Average Days of Supply
13.8%
56.3%
-
-
$140,000
-$6,121
5.5%
3.8%
-8.6%
6.0%
Asking Price
$399,000
Estimated Purchase Price
$400,000
Stamp Duty
$19,070
Transfer Fee
$1,042
Conveyancing
$1,196
Deposit (10%)
$40,000
Reg. Mortgage
$129
LMI Premium
$8,842
Renovation Costs
-
Total Cash/Equity Required
$70,829
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$21,840
$31,085
Property Management
+7.7% PA
$1,682
$2,394
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
$15,016
$21,982
Interest Repayments
$23,760
$23,760
Net Cashflow Before Tax
-$8,744
-$1,778
Depreciation
-
-
Tax Offset
-$2,623
-$533
Net Cashflow After Tax
-$6,121
-$1,244
Assumptions
Year 1
Year 10
Property Value
6.8%
$576,720
$1,042,573
Loan Balance
I.O
$360,000
$360,000
$216,720
$682,573
Did you know you need to engage a conveyancer when buying a property?
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