Independent review:
Small, free standing investment/ home in Mudgeeraba.
We visited this property on the weekend.
3 bedroom, 2 bathroom, 527 m2, asking A$339,000.
Positives
- No body corporate, free standing property
- affordable
- Tenants probably happy to stay, at under $400/ week rent, why wouldn't they
- Close to Robina Town Center, close to schools (Kings, Somerset)
- Flat property, possible expansion possible (at least another garage/paved area outside, and possible another room out the back.
- It's probably the worst presented house on the street, which makes for easy capital growth.
- All rooms have built in robes.
- For the kids, there is a little park + bush area to explore.
Negatives
- It's literally right on the back of the highway
- It's a hammer head property, no frontage on the street
- It probably isn't a home I would live in, purely for investment purposes.
- Built in 1998, so much of the depreciation has been claimed.
- interior a bit cramped and starting to show serious wear and tear
- Most of the other properties in the area are small, so even with extensions, may over capitalize.
Research:
Land value: $192,500
Single Unit Dwelling
Last (part sale) 2006 for $160,000, 2001 for $145,000, 1996 for $151,100.
On a side note, I think the real estate agent did a really good job on the open house, presentation, and photos. I'd use them again. Unfortunately, only 3 people turned up to the open house. 2 investors and a small family.
Repayments: approximately $2000/ month + water/rates approximately $250/month + insurance
Personally, I wouldn't pay more than A$300,000 for this property as an investment, but if you have a small family, this may also make a good entry level home at A$339,000.
Small, free standing investment/ home in Mudgeeraba.
We visited this property on the weekend.
3 bedroom, 2 bathroom, 527 m2, asking A$339,000.
Positives
- No body corporate, free standing property
- affordable
- Tenants probably happy to stay, at under $400/ week rent, why wouldn't they
- Close to Robina Town Center, close to schools (Kings, Somerset)
- Flat property, possible expansion possible (at least another garage/paved area outside, and possible another room out the back.
- It's probably the worst presented house on the street, which makes for easy capital growth.
- All rooms have built in robes.
- For the kids, there is a little park + bush area to explore.
- It's literally right on the back of the highway
- It's a hammer head property, no frontage on the street
- It probably isn't a home I would live in, purely for investment purposes.
- Built in 1998, so much of the depreciation has been claimed.
- interior a bit cramped and starting to show serious wear and tear
- Most of the other properties in the area are small, so even with extensions, may over capitalize.
Research:
Land value: $192,500
Single Unit Dwelling
Last (part sale) 2006 for $160,000, 2001 for $145,000, 1996 for $151,100.
On a side note, I think the real estate agent did a really good job on the open house, presentation, and photos. I'd use them again. Unfortunately, only 3 people turned up to the open house. 2 investors and a small family.
Repayments: approximately $2000/ month + water/rates approximately $250/month + insurance
Personally, I wouldn't pay more than A$300,000 for this property as an investment, but if you have a small family, this may also make a good entry level home at A$339,000.
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