PROPERTY 3 - Sit and forget

2A Moira Street, Sunshine

The Numbers

 

3 - Bedroom

2 - Bathroom

1 - Car space

 

For Sale Price

$440,000 - $470,000 (As advertisied)

 

Target Purchase Price

$TBC

 

Estimated Rental Return

$400/wk 

 

Rental Yield (target price) - TBC%

 

Outgoings

Water - TBC /qtr

Council - TBC /qtr

Energy - TBC /qtr

 

Renovation Allowance

N/A

 

Other Fee's

Professional: Approx. $1,500 + gst

Stamp Duty: $22,806 - $24,680

 

Milk Chocolate Fee's

• $1,500 engagement fee + 1.5% on final sale price + gst

• 10% on total renovation costs for Project Management (if any) + GST

 

The Recommendations

 

Inspections

Building & Pest - Approx. $400 (one off) 

Strata - Approx. $300 (one off)

 

Insurance

Full landlord insurance inc. damage, loss of rent, theft, legal and contents

- Approx. $300 p.a

 

Quantity Surveyor

Tax depreciation report -

Approx. $400 (one off)

 

Leasing Agent

www.superbproperty.com.au

The Details

 

About the property
Quietly positioned and ideally located, this home is set in a tree-lined street oozing with character it will be sure to impress that first home buyer of investor.Offering 3 Large Bedrooms with BIR (Master Ensuite/WIR), Open living/dining areas, Separate BathroomTremendously located, families will definitely enjoy the gentle stroll to Buckingham Reserve and Kororoit Creek trails. Only minutes away from Public transport, Local schools, Cafes/Shopping Centers, Cinemas, Medical Centers and access to Melbourne CBD just down one road.
 
• Property size is 222sqm

About the suburb
 
 
Our thoughts
We see a unique opportunity with this property and would reccomend a 'low ball' offer given its current state. The strategy on this would be to use the savings made on a hopefully accepted 'low ball' offer to give the unit a make-over. We would estimate $20,000 would be required to complete this. We believe after this renovation that we would see the properties new value to fall in-between $370,000 - $390,000.
 
However, as we have mentioned previously, we dont see long term capital growth for units in Penrith so our suggestion would be to sell the property after 12 months (given a positive valuation after the renovation and market research).     
 
Suburb specific data
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Investment data
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Recent sales data
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