The Homely Home

                                                    37 Belinda Crescent, North Epping 

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The Numbers

 

4 - Bedroom + Study

2 - Bathroom

2 - Car space

 

Total Space - 850.8m2

Internal Living Area - 164.49m

 

Position - North/South facing

 

Auction (April 22, 2017)

$1.050M - $1.150M (Initial)

 

Our Target Purchase Price

$1.410M (To secure prior to auction)

 

Estimated Rental Return

$900-$1,100/wk  

 

Gross Rental Yield (target price) 

4.05%

 

Outgoings

Rates = TBC

 

Acquisition Cost

Bank Loan = $1,066,000

Deposit Required = $344,000

Stamp Duty = $63,312.60

TOTAL OUTLAY = $407,312.60

 

Cash Flow (per month) 

Your mortgage = $5,110*
Rates = TBC 

BALANCE = TBC/month

 

Renovation Allowance

$300,000 (full feasibility TBC)

 

Other Fee's

Professional = $1,500

Bank Fees = $850

 

Milk Chocolate Fee's

Purchase: $12,980

Project Management: $30,000 (If req.)

 

Total Outlay

Purchase Price = $1,410,000

Settlement Misc. Estimate = $850

Stamp Duty = $63,312.60

Professional Fee's = $1,500

Milk Chocolate = $12,980 (inc. GST)

= $1,488,642.60 

 

The Recommendations

 

Inspections

Building & Pest 

 

Insurance

Home & Contents

- Approx. $850 p.a

canstar.com.au

 

Quantity Surveyor

Tax depreciation report -

Approx. $400 (one off)

www.washingtonbrown.com.au

 

Leasing Agent

Not required

 

The Documents

 

Contract of Sale

The Stats

Distance to CBD

22km by car and 15km as the crow flies

Population

Recent data from the 2011 Census suggest the population is 4,902

Medium Property Price

The medium price for 4 bedroom houses in North Epping is $1.4M

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The Details

Agents Advertising Details
On 857sqm in a secluded cul-de-sac street, this solid brick split level home captures sweeping bushland views from an elevated position overlooking Lane Cove National Park. The home has undergone a comprehensive renovation, with stylish modern interiors ready to enjoy now, while DA approval for a north facing deck, swimming pool, multi-car garage and passenger lift provide scope to further capitalise and fully realise dream plans. A private sanctuary in a sought-after setting, it promises a serene lifestyle moments to everyday essentials.

* Architectural concepts also available for a luxurious cabana/studio 
* Open plan living/dining area plus a second lounge or media room
* Deluxe entertainers' kitchen has stone finishes and Miele appliances
* Double bedrooms with built-ins, master has walk-in robe and ensuite
* Underfloor heating in bathroom and ensuite, separate internal laundry
* Quality floorboards, wood fireplace, integrated audio, split air-conditioning
* Close to transport and within minutes of Epping North Public School
 
Your Brief Specifics
• $1.2M budget excl. stamp duty: Target price here is $1.4M
• 4 Beds, 2 Bath, 1-2 Car + SStudy: 4 Bed, 2 Bath, 2 Car + Study
• Potential to add value
• A sloping lot
• On the Northern train line
• Bushy/Leafy outlook
• A house built in to the land
• Great bones and style 
 
Our Thoughts
As we discussed, we generally look for properties where we can add value to either immediately or in the future. This property presents the opportunity - in a grand way! A DA approved property with well thought out and modern designs to suit your needs.
 
To buy this property, as you know, we need to pull the trigger and go in with a very strong and enticing offer. The offer needs to be unconditional, above their expectations and immediate. 
 
Our recommendation is $1.41M purchase price stated with best and final. We don't have time to wait until the auction, nor do we want to nibble about with this property. There is genuine interest and the agent is hinting at other parties playing the early ball game too.
 
Further discussion needs to happen around the construction and execution of the approved build. We can have this talk once we feel comfortable that the property has been secured.  As you know, Milk Chocolate offer a Project Concierge service. The service is designed to take the stress away and manage all trades and contractors on your behalf. 
 
Investment Data
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CoreLogic Data Report
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Demographic

Locality

Housing Commission Heat Map

All areas in green represent 0% housing commission in the area

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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.