T was an inter-state investor looking for a medium to long term hold with capital growth potential. Working with a budget of $500k, he was looking for a property within 25kms of the CBD, ready to rent in its current condition, and preferably with a yield of 5% or more.
The property we purchased was in a quiet location, only a short distance to the heart of the local shopping area and transport hub. On a large 650m2 block, it was surrounded by low maintenance lawn and gardens ideal for tenant with a young family. Out the back, there was a large garden shed, and a covered outdoor entertaining area off the dining room. The house itself was a well-maintained low-set brick, with nothing to do prior to advertising for rent. With a good sized living room, aircon and ceiling fans throughout, we had tenants moving in just two weeks after settlement! This was a great example of a solid and straightforward investment property in a good location, with good numbers to boot, and snapped up prior to going to market where the competition would have been hot!
- Listing Price: Off-market Property
- Purchase Price: $395,000
- Current Rental: $370pw