The Project

T&C were inter-state investors and previous Zest clients looking for a medium to long term hold with capital growth potential.  Working with a budget of up to $650k, they were looking for a property within 12kms of the CBD.  The previous purchase had resulted in a fantastic brick low-set in the Northern suburbs, so for the second investment property, it’s always a good idea to diversify and search for something a little different, and in a different part of the city.

The Property

The property we purchased was in a suburb that has experienced strong growth over 2017, with a real feel for gentrification and modernisation.  Less than 1km from the nearest train station and shopping centre, this property was a great find only 12km from the Brisbane CBD.  The house was a renovated ex-commission home now typical of this area, but in great condition.  With the added bonuses of aircon, built-in-robes, and a new laundry extension off the back, there was really nothing left to do prior to advertising for rent.  On a good sized block, and with plenty of space to expand, there is still potential to add value in the future with the addition of a large deck or even another extension.  Houses in this area have become increasingly popular over 2017, and it is getting more difficult to get into that area in this price range!  So for this property, T&C can sit back and watch the equity grow.

 

The Numbers

  • Listing Price: Offers Over $589,000
  • Purchase Price: $592,500
  • Estimated Rental: $420-440pw

Client Comments

Fast communication; followed up on all requests.  Thank you for all your help in searching and buying this property so quick.