$425K
$68,061
"Discover the potential of 813 Ripon Street South, a delightful residence in the heart of Redan, Victoria, presenting an exceptional opportunity for firsttime homebuyers, investors, or those keen for a project. This charming house, set on a generous 557 square meter allotment, offers a comfortable living space complemented by three cozy bedrooms, each featuring builtin robes. The heart of the home is adorned by a practical kitchen, boasting an array of cupboards, loads of bench space, a gas upright stove, a rangehood, and a double sink. The bathroom is wellmaintained. Step outside to the back veranda, where outdoor entertaining beckons against the backdrop of your sizeable garden. The property includes two parking spaces, further enhancing its appeal. Location is key, and this home ticks all the boxes, being in close proximity to schools, a variety of shops, and convenient transport links. Leisurely pursuits are easily satisfied with Moreshead Park which is just a stroll away, and for fitness enthusiasts, the D2E Gym is nearby. Take advantage of the chance to make 813 Ripon Street South your new address or the next addition to your investment portfolio. Every precaution has been taken to establish the accuracy of the above information. However, prospective purchasers are advised to carry out their own due diligence"
Below are some similar properties in the area you may be interested in.
1.5%
55.6%
$480K
4.1%
$30,000
-$7,257
5.0%
3.3%
-10.4%
6.0%
Asking Price
$425,000
Estimated Purchase Price
$395,000
Stamp Duty
$18,770
Transfer Fee
$1,030
Conveyancing
$1,196
Deposit (10%)
$39,500
Reg. Mortgage
$129
LMI Premium
$8,732
Renovation Costs
-
Total Cash/Equity Required
$69,906
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$19,760
$28,125
Property Management
+7.7% PA
$1,522
$2,166
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
$13,096
$19,250
Interest Repayments
$23,463
$23,463
Net Cashflow Before Tax
-$10,367
-$4,213
Depreciation
-
-
Tax Offset
-$3,110
-$1,264
Net Cashflow After Tax
-$7,257
-$2,949
Assumptions
Year 1
Year 10
Property Value
6.8%
$453,900
$820,543
Loan Balance
I.O
$355,500
$355,500
$98,400
$465,043
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewLocation, 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
Sales Price Growth (% Change)
Average Days of Supply
Sold Price
Asking Price