Granny Flat Approved Site
Property ID: 15570595
Purchase Price $285K
Estimated Rent $300 per week
Estimated Yield 5.47%
Cost to add Granny Flat $132K (Subject to Council approval)
Professional Fees, Charges, Approvals & Preparation $13K
Estimated total rent $280 + $250 = $530 per week.
Estimated Gross Yield 6.40%
The existing house has recently been renovated and was previously rented for $290 per week. The house has 3 bedrooms, 1 bathroom, a car port and good access to the back yard. It is situated towards the front of a large 817m2 block which will allow plenty of room for a granny flat at the rear.
A granny flat has previously been approved which should make any new application much smoother.
This investment is in a great location with many facilities nearby;
* Bus stop 450m
* Child care 500m
* Train station 700m
* Private school 800m
* Bunnings 900m
* Primary School 1Km
* Shopping centre 1.3km: with Woolworths, Big W, over 50 Specialty stores and 1,200 car parks.
* Aldi 1.4km
* High school 1.8km
Businesses that have invested nearby include McDonald's, Hungry Jacks, Red Rooster, Dominos, Subway, The Coffee Club, pizza Hut, KFC, Sizzler, Gloria Jeans and Toyota.
There is a $1 Billion Industrial Park just 4km away and another is to be constructed 6km away and this one is projected to create 14,000 jobs.
Other facilities within 6km include;
* TAFE Campus;
* University Campus;
* 2 Hospitals;
* Major shopping centre with Coles, Woolworths, Aldi, Target, Best & Less, Cinemas and more than 100 specialty stores.
The population of this region is forecast to more than double in the next 16 years, bringing an additional 75,000 jobs to the area. An additional 120,000 jobs are expected to be created within travelling distance to this location.
There is currently $Billions in infrastructure spending planned for this city. As a result this region is projected by property experts to see strong capital growth over the next 3 years.
* Vacancy rates are at 1.9% (2 - 3% is considered a balanced market)
* Online enquiries into this suburb are 23% higher than the state average
* The number of sales has increased by 57% compared to 12 months ago
* Days on market have reduced by 26% over the past 12 months
Call Matthew Barnes on 0430 979 900 for further details.