John was a returning client, and had a specific goal in mind for his second purchase. Looking for a townhouse in Logan, we were able to narrow his search down to a couple of central suburbs that rent well and had a good selection on the market at that time. With a budget of $260,000, a minimum yield of 5.5% was the focus, with potential for capital growth an added bonus.
The property we purchased was in a central Logan suburb, close to a local group of shops, and with good transport connections. The townhouse was in a gated complex of units, with each in side-by-side pairs. There was a shared pool and BBQ facilities, but still with a low body corporate fee. The townhouse itself was in a very tidy condition, with one long-term tenant having taken good care of the place for some years now. A patio area at the rear, along with a sought-after patch of grass, provided some outdoor space to enjoy the warm Queensland summers. With the living areas and kitchen downstairs, then three good-sized bedrooms upstairs, this townhouse had more space than most in this price range. The effect of the third bedroom is definitely noticeable in the rental return when compared to similar 2-bed’s in the area! Overall, a solid purchase in good condition, with tenants in place and no work required.
- Listing Price: Offers Over $232,000
- Purchase Price: $220,000
- Estimated Rental: $305pw (a potential yield of over 7%!)