Independent review:
Small, 3 bedroom duplex in Arundel close to Griffith university and hospital (5 minute drive).
3 bedroom, 1 bathroom, 100 m2, asking A$359,000.
Positives
- Rents about $360/ week.
- affordable, with a large yard for the family.
- Close to Griffith university and Gold Coast Hospital (1km). NOT walkable distance, but if you ride a bike it's fine.
- Close to schools and parks
- Won't have a problem finding someone to rent
- No body corporate, just pay building insurance, approx $600/ year
- 2-3 car spaces, one garaged
- newly renovated, so depreciation allowances available
- built in wardrobes
Negatives
- about 20 years old
- It's tiny, I mean 100m2, with a bulk of that being the large yard
- Unlikely to be able to add any value to it, maybe a car port.
- The renovation still needs work. The trims aren't completed, because small children already live there, there are signs of wear and tear. so a fresh coat of paint is probably needed.
- only single garage, not automatic
- the exterior leaves something to be desired, I mean, if you look outside, the neighbours fence and trees look like they are about to crash through your window-- I hope they have bought insurance.
- and since it's a duplex, it's unlikely, you are able to knock down and build something else.
- maybe pay $4000 to get it rendered but anything you do will be a risk of over capitalising.
- It will be hard to make any significant capital gains at this price, unless a developer wants to buy out
Research:
Listed $320,000 last year in April. $134,000 in 2001.
Real estate agent really prompt with responding to online inquiries. And a friendly bloke. The pictures look a lot better than the property does in real life. Hats off to the agent.
Repayments: approximately $2125/ month + water/rates approximately $250/month + insurance
I think this property is priced pretty well for the location. I would place an offer for $350,000 if I had to live there (i.e. I had to rent nearby because I worked at the hospital or university), don't expect a huge amount of capital growth but it's probably going to be on par with rent. For an investment property, I would place an offer at $340,000 because there really isn't much depreciation incentive left on this property. And because the outside is just ugly and there are plenty of other options nearby. It's more a home for a small family, in the short term if anything.
Owner- builder is upgrading to a bigger property. Get in quick if interested, as I was leaving, I saw an asian male make an offer.
Small, 3 bedroom duplex in Arundel close to Griffith university and hospital (5 minute drive).
3 bedroom, 1 bathroom, 100 m2, asking A$359,000.
Positives
- Rents about $360/ week.
- affordable, with a large yard for the family.
- Close to Griffith university and Gold Coast Hospital (1km). NOT walkable distance, but if you ride a bike it's fine.
- Close to schools and parks
- Won't have a problem finding someone to rent
- No body corporate, just pay building insurance, approx $600/ year
- 2-3 car spaces, one garaged
- newly renovated, so depreciation allowances available
- built in wardrobes
Negatives
- about 20 years old
- It's tiny, I mean 100m2, with a bulk of that being the large yard
- Unlikely to be able to add any value to it, maybe a car port.
- The renovation still needs work. The trims aren't completed, because small children already live there, there are signs of wear and tear. so a fresh coat of paint is probably needed.
- only single garage, not automatic
- the exterior leaves something to be desired, I mean, if you look outside, the neighbours fence and trees look like they are about to crash through your window-- I hope they have bought insurance.
- and since it's a duplex, it's unlikely, you are able to knock down and build something else.
- maybe pay $4000 to get it rendered but anything you do will be a risk of over capitalising.
- It will be hard to make any significant capital gains at this price, unless a developer wants to buy out
Research:
Listed $320,000 last year in April. $134,000 in 2001.
Real estate agent really prompt with responding to online inquiries. And a friendly bloke. The pictures look a lot better than the property does in real life. Hats off to the agent.
Repayments: approximately $2125/ month + water/rates approximately $250/month + insurance
I think this property is priced pretty well for the location. I would place an offer for $350,000 if I had to live there (i.e. I had to rent nearby because I worked at the hospital or university), don't expect a huge amount of capital growth but it's probably going to be on par with rent. For an investment property, I would place an offer at $340,000 because there really isn't much depreciation incentive left on this property. And because the outside is just ugly and there are plenty of other options nearby. It's more a home for a small family, in the short term if anything.
Owner- builder is upgrading to a bigger property. Get in quick if interested, as I was leaving, I saw an asian male make an offer.
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