WHAT WE'RE REVIEWING

Food For
Thought

Here are properties we have sourced and are currently reviewing. 

54A Cuming St, Mile End

The Numbers

 

2 - Bedroom

1 - Bathroom

1 - Car space

 

Size

Internal - 108m2

Land - 416m2

 

Orientation

Front: South

Rear: North

Sale Method

Auction, 9th Nov

Asking Price

$600K

Quick Valuation

Logical: $600,000 - $620,000 Emotional: $620,000 - $635,000 Target: $600,000 - $635,000

Current Offers

None

Quick Rental Appraisal

$420 - $440/wk

Renovation Potential

Allow $5k upfront to tart up the kitchen and bathroom for lease. Opportunity long-term to extend and add a bedroom, living space and DLUG (c. $120K)

Distance to Public Transport
950m (12-minute walk) to Mile End station

 

Distance to Shops

Brickworks - Major shopping centre (8-minute drive) and local small shops available on foot within 5-minutes

Walk Score
Land
Property
Opportunity
OO Apppeal
Overall

Our Feedback

A beautiful character-led maisonette (semi-attached) in one of Mile End's premium streets. The home has aged like a beautiful red wine, getting better by the day. Being over 100 years old, it has stood the test of time and internally, those beautiful features stand loud and proud.
 
Being on the city side of South Rd, it ticks a lot of boxes, and just recently, the school zoning changed and this house now falls into the Adelaide High School and Adelaide Botanic High School catchments. It's within walking distance to the CBD and recently built hospital. Mile End above-ground train station is only a 950m walk away also. To the west, the iconic Henley Beach and Glenelg Beach are only a 15-minute drive.
 
The street itself is littered with $800K + properties, and it is easy to see how these will soon all break through the $1M mark. The home itself is full of character, with two great sized bedrooms and a separate formal lounge room. Past this, the kitchen, bathroom and laundry are old and dated, however, still very much functional at this price point. To the rear, is a large substantially sized rear yard that is north facing. Flaherty lane runs behind and would eventually provide rear lane access with a double garage possible. Long-term, the home has plenty of opportunities to push out and add value. There is the opportunity to convert the current living room into a third bedroom and then recreate and extend from the kitchen, where you could create a new open kitchen living and dining space out onto a rear alfresco zone. To the very rear, is the opportunity to add the double lock-up garage, turning this 2, bed, 1 bath, 0 car house into a 3 bed, 2 bath, 2 car home. Of course, this is not in your strategy, but it's good to understand this from a value add, resale point of view, as your purchaser will have these options and therefore pay a premium to acquire the home.

22 Hounslow Avenue, Torrensville

Walk Score
Land
Property
Opportunity
OO Apppeal
Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

3 - Car space

 

Size

Internal - 112m2

Land - 488m2

 

Orientation

Front: South

Rear: North

Sale Method

Auction, 9th Nov

Asking Price

$590K

Quick Valuation

Logical: $580,000 - $610,000 Emotional: $610,000 - $625,000 Target: $580,000 - $625,000

Current Offers

None

Quick Rental Appraisal

$430 - $450/wk

Renovation

None required

Distance to Public Transport
2.5km (30-minute walk) to Mile End station

 

Distance to Shops

Brickworks - Major shopping centre (6-minute drive) and local small shops available on foot within 5-minutes

Our Feedback

A freestanding 1920's sandstone abode which ticks a lot of boxes. From the street, you immediately notice the frontage and curb appeal. And following through, when you walk inside, the character oozes within and you feel an instant connection with the exterior. Definitely not considered renovated, it is neat, tidy and ready to be leased. The home has three well-contained bedrooms at the front of the property, a central living zone than out the back to the kitchen, dining and wet areas. Whilst the layout is a little 'odd' with the bathroom to the rear, it is absolutely cookie-cutter material for homes in this area of this vintage. The kitchen is a decent size, and whilst a 'little ugly', certainly functional and not worthy of any additional works. The bathroom and laundry have been recently updated and are definitely nice. The rear alfresco area and green garden zone is beautiful and perfect size for this home. Not too much maintenance for a tenant by any stretch of the means. Down the side of the property is the undercover garage which can easily accommodate 3 cars, whilst there is a significant sized shed behind this. The way it has been built/designed, you can't park cars in here, however, with some minor structural alterations to the alfresco area, this could be changed, however, not necessary.

The home is located in Torrensville and the western zone of the suburb. To note, Hounslow Road borders Cowandilla, and properties on the other side of the street are classified as Cowandilla (median is $95k less than Torrensville). As a negative, the flight path is not too distant from the property and in the time I was at the property (25-minutes), two domestic aircraft flew over. Whilst not worthy of stopping the conversation, it certainly is noticeable. In this instance, it's not a show stopper for me as the home spec, location and character all outweigh the aircraft noise. 
The property will most likely goto auction and they don't believe pre-auction sales will cut the mustard with this vendor. 

* 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.