The Project
Stephen was an inter-state investor looking for a medium to long term hold with capital growth potential. Working with a budget of $400k, he was looking for a property within 30kms of the CBD that was able to provide a yield of at least 5%. Minor renovation potential was also acceptable in order to get the right location on a desirable block.
The Property
The property we purchased was in a great location, only a short walk to a variety of shops and restaurants, the supermarket, and the train station. The house itself was a tidy high-set with a recently renovated kitchen, huge covered outdoor deck, and double internal garaging. The bathroom was getting a bit tired however, so we set about re-tiling around the shower and bath, then updating the cabinetry prior to advertising for rent. With these additions, and a couple other minor maintenance upgrades, we were able to present the property to the rental market, and a secure a good income for Stephen shortly thereafter.
The Numbers
- Listing Price: ‘For Sale’
- Purchase Price: $374,500
- Current Rental: $380pw
