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In this section, we take a dive into the nitty-gritty of the property - 32 Davenant Street, Banyo. We analyse the property itself, its surrounds and the numbers that matter. We also take a look at the comparable sales in the area and how they stack up against the property.
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The Numbers

 

4 - Bedroom 

1 - Bathroom

1 - Car space

 

Internal Floor Space - 622m2

 

Position - Rear (East) / Front (West)

 

Sale Method

Private Treaty

Agent Price Range

$510,000 +

 

Milk Chocolate Valuation 

Logical Price: $540,000 - $560,000

Emotional Price: $560,000 - $580,000

Price Range: $530,000 - $560,000

 

Rental Appraisal

$520/wk

 

Renovation Allowance

Nil

 

The Figures

Cash flow analysis

The Recommendations

 

Home & Contents Insurance
terrischeer.com.au

- Approx. $80/month 

 

Property Manager 

We will confirm this closer to the time
 

The Documents


Not required, example only 

The Stats

Distance to CBD

13.5km by car and 11.2km as the crow flies

Capital Growth Rates

Capital growth for houses in Banyo for the past 12-months is 0.47%

Houses Sold

The number of houses sold in the last 12-months is 101

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Our Thoughts

 

This is a beautifully presented post war home. A front entry deck provides a welcoming entry to the spacious, air-conditioned living and dining area. While not brand new, the adjoining kitchen is in great condition, functional and spacious. Amazing polished hardwood floors and a fresh lick of paint ticks all the boxes for a tenant to walk straight in. The renovated bathroom featuring double vanities services four generous bedrooms. All rooms are fitted with ceiling fans, crimsafe and timber Venetian blinds. An outdoor living area has been created to the side of the property overlooking the fully fenced back garden.

 

Functionally, the layout of the floorplan could be better, however, for the purpose of investment and getting a tenant into the property, a renovation is not something we would recommend at this point.

Banyo is a popular growth area which is close to the airport, gateway, an array of private and public schools and major shopping centres. The new Woolworths centre and the Australian Catholic Uni have also contributed to the popularity of this area.

 

What We Recommend

 

This is a simple buy and hold strategy for you. There are no renovations required and the property is in a condition to move straight in for a tenant. The tenant here would be a young professional and we'd be expecting them to be paying $520/wk in rent. We value the property between $530,000 - $560,000. Given the strength and growing popularity of this market, we believe the purchase price would land at the top end of our price bracket.

What's Around

Demographic

Housing Commission Heat Map

3% of residents in Banyo live in government housing. Neighbouring suburbs, Nudgee, Virginia and Northgate have 2%, 0% and 8% respectively.

Comparable Recent Sales 

Here we provide the most recent sales in the area that are no more than 1km from your property and not older than three months. We also provide a rating (superior, equal or inferior) of the comparable property against your property across three categories; market timing, location and overall. Generally speaking, if the property ranks overall inferior, then we can expect your property to be valued higher and vice versa if rated superior. Market timing refers to the strength of the market when the comparable property was purchased compared to now.

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Comparable Recent Rentals 

Here we provide the most recent rentals in the area that are no more than 1km from your property and not older than three months. We also provide a rating (superior, equal or inferior) of the comparable property against your property across three categories; market timing, location and overall. Generally speaking, if the property ranks overall inferior, then we can expect your property to be valued higher and vice versa if rated superior. Market timing refers to the strength of the market when the comparable property was rented compared to now.

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Our Photos

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What Social Media Is Saying

* Milk Chocolate price data used on this website is sourced and relies upon information supplied by a number of external sources (including governmental authorities). This data is supplied on the basis that while Milk Chocolate believes all the information provided will be correct at the time of writing, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information on this website through any cause whatsoever and limits any liability it may have to the amount paid to the external sources for the supply of such information.