Best of the Rest

Agent Description
  • Quiet Street, close to parklands & kids playground
  • Rumpus/multipurpose room/4TH bedroom with separate entry, high ceilings & skylight
  • Updated kitchen, ducted range hood & dishwasher
  • Ducted gas heating (still under warranty)
  • Updated bathroom
  • All 3 bedrooms with built-in robes
  • Timber flooring
  • Storage shed
  • Pergola & paved entertaining area
  • External awnings
  • Large laundry with room for storage
  • Spacious main bathroom with shower & separate toilet
  • Triple carport plus multiple car park space on the driveway
  • Vacant possession & a flexible settlement timeframe
 
Our Thoughts
An Interesting option given the affordable purchase price and options this property provides. The current owner has created a Rumpus/Multi-Purpose room off the living and meals room. However, access to this is either from the driveway or pergola. There is another 3m before the boundary fence so there's room to extend this right open. There are two options here, one is to keep it separate from the main residence and extend it out to create a decent sized studio/granny flat. Alternatively, opening up the main residence from the living/meals area into this room. 
 
We feel stronger about Edwards Street and the potential to add value than what 7 Eaves Street provides. We believe this still presents good buying and an offer prior to auction is the way to go here if we were looking to purchase. The location of Higgins is better and Edwards St presents the chance to create instant equity which we prefer in this instance.

7 Eaves St,

Holt

 

3 - Bedroom

1 - Bathroom

3 - Car space

 

Total Space - 663m2

Internal Living Area - 129m2

 

Position - North facing

Energy Efficient Rating (EER) - 1

 

Auction (8th March)

$450,000 (buyers interest)

 

Our Target Purchase Price

$440,000

 

Estimated Rental Return

$450 - $490/wk  

 

Gross Rental Yield (target price) 

5.32%

 

Outgoings

Rates - $1,103.75/qtr

 

Investment Cash Flow (per month) 

Your rent received = $1,950

Agent Commission (7%) = $136.50

Landlord Insurance (Approx.) = $80

Your mortgage = $1,467*
Rates = $367.92 (approx.)

BALANCE = -$101.42/month

*Based on your CBA pre-approval dated 9th of June and 20% deposit

 

Renovation Allowance

N/A

 

Other Fee's

Professional: Approx. $1,750

Stamp Duty: $11,857 (target price)

 

Milk Chocolate Fee's

Purchase: $12,900

Project Management: $0

 

Total Outlay

Purchase Price = $450,000

Settlement Misc. Estimate = $1,500

Stamp Duty = $11,857

Professional Fee's = $1,750

Renovation Allowance = $0

Milk Chocolate = $12,900 (inc. GST)

Milk Chocolate PM Fee = $0

= $478,007

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132 Pennefather St, Higgins

 

3 - Bedroom

1 - Bathroom

2 - Car space

 

Total Space - 748m2

Internal Living Area - 97m2

 

Position - South West facing

Energy Efficient Rating (EER) - 3.5

 

Auction (4th March)

Low-Mid $500's (buyers interest)

Our Target Purchase Price

$515,000

 

Estimated Rental Return

$500/wk  

 

Gross Rental Yield (target price) 

5.05%

 

Outgoings

Rates - $1,300/qtr

Investment Cash Flow (per month) 

Your rent received = $2,166.67

Agent Commission (7%) = $151.69

Landlord Insurance (Approx.) = $80

Your mortgage = $1,679*
Rates = $433.33 (approx.)

BALANCE = -$177.35/month

 

**Based on your CBA pre-approval dated 9th of
June and 20% deposit

 

Renovation Allowance

N/A

 

Other Fee's

Professional: Approx. $1,750

Stamp Duty: $14,607 (target price)

 

Milk Chocolate Fee's

Purchase: $12,900

Project Management: $0

 

Total Outlay

Purchase Price = $515,000

Settlement Misc. Estimate = $1,500

Stamp Duty = $14,607

Professional Fee's = $1,750

Renovation Allowance = $0

Milk Chocolate = $12,900 (inc. GST)

Milk Chocolate PM Fee = $0

= $545,757

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Agent Description
The home has been tastefully renovated and features an inviting, light-filled living room with RC/AC for year round comfort; gourmet kitchen with quality stainless steel appliances, and a renovated bathroom. 
The expansive elevated rear timber deck is an absolute delight and overlooks the back garden where you can oversee the kids whilst playing in the comfort and privacy of their own backyard.
 
Features include:

Three bedrooms; two with built in robes
Light and spacious master bedroom 
Bedroom three with RC/AC
Timber flooring
North facing living room with RC/AC
Open plan kitchen and dining room
Gourmet kitchen with s/s appliances including a 900mm Smeg freestanding gas cooker, range hood, splashback and dishwasher
Added wall and ceiling insulation 
Sparkling renovated bathroom with floor to ceiling tiles
Separate toilet
Large north facing timber deck
Spacious double garage
Colorbond fencing 
Instant gas hot water
New window furnishings
Separate laundry 
 
Our Thoughts
This property rates equally with Edwards street given its location in a growth suburb. However, given this property has been updated recently, we believe the better option is Edwards Street given the equity we can create with a smart renovation. The footprint and layout of this property is identical to Edwards St and the sale price they receive will illustrate what we can achieve on Edwards Street or better. We prefer to sit this one out and monitor the sale price.

* 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.