$800K
$152,189
"Duplex Potential with 734m2. Potential Retain and Build This amazing 1970 built brick and tile home has been owned by the same current owners since new. Perfectly positioned in the heart of Morley, this prime development site is not to be missed With sites of this calibre becoming increasingly rare dont delay and express your interest today Situated in a perfect position of Morley, sits 17 Sunningdale Street. On a generous 734m2 with an 18 metre frontage and boasting plenty of side access for driving through to the rear, this one wont last long 3 x 1 with Jarrah floorboards and a large double garage at the back perfect for tradies or the ultimate Man Cave This property will be a great addition to your investment portfolio with so much future potential or fantastic to move straight in and renovate. Options Galore 1. Keep this as an investment and Landbank your future while getting rent 2. Demolish the home and potentially build Two new dwellings. 3 Potentially retain the current home and build at the rear or sell off the rear block of land. Approx 5 meters clearance down the side if garage is taken off and over 300m2 rear future block 4. Demolish the home and build your dream family home on a full block in Morley with rear workshop or swimming pool etc 5. Move in and renovate while living in this beautiful street and plan your future Close proximity to Crimea Park, West Morley Primary School and Morley Galleria Shopping Centre. Located in a vibrant community perfect for families and only a few minutes drive to the new Morley Train Station and approx. 15 minutes to the CBD and Airport"
Below are some similar properties in the area you may be interested in.
-
77.8%
$650K
5.2%
-$75,000
-$24,326
2.7%
1.9%
-16.4%
6.0%
Asking Price
$800,000
Estimated Purchase Price
$860,000
Stamp Duty
$35,406
Transfer Fee
$373
Conveyancing
$1,535
Deposit (10%)
$86,000
Reg. Mortgage
$203
LMI Premium
$24,522
Renovation Costs
-
Total Cash/Equity Required
$148,588
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$23,400
$33,305
Property Management
+8.2% PA
$1,919
$2,731
Rates
+3.0% PA
$1,444
$1,884
Water
+3.0% PA
$1,455
$1,898
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
$16,332
$23,856
Interest Repayments
$51,084
$51,084
Net Cashflow Before Tax
-$34,752
-$27,228
Depreciation
-
-
Tax Offset
-$10,426
-$8,168
Net Cashflow After Tax
-$24,326
-$19,059
Assumptions
Year 1
Year 10
Property Value
6.8%
$838,380
$1,515,592
Loan Balance
I.O
$774,000
$774,000
$64,380
$741,592
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2021 Population
Suburbs
Retail Trade - 17.0%
Health Care and Social Assistance - 14.0%
Construction - 9.0%
Manufacturing - 8.0%
Others - 52.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Rental Yield
Average Vacancy Rate
Average Days of Supply
Sold Price
Asking Price