Purpose of Purchase: Investment
Property Type: Single Storey brick home- 3 bed/1 bth/2 car- 607sq block
Purchase Price: $545,000
Yield & Rental Info: Rented after 2 weeks for $460 p/wk resulting in a 4.4% yield on purchase. Annualised growth rate of 4%.
How this purchase met the clients brief:
- Client was after low maintenance property with good rental and growth prospects
- Property located in desired area close to infrastructure
- Within 1 hour commute to Brisbane CBD
The property is located on a quiet street within 10 mins walk to the waterfront, beaches and town center so satisfies all of the infrastructure criteria.
The property is a good size single storey brick home that had a full renovation a few years prior to purchase so it was still in a very good condition internally.
The property is also on the doorstep of the Newport Harbour recreation and leisure development & close to public transport and local shops and schools it is certainly attractive to quality tenants.
Situated less than 45 mins commute to the CBD it also satisfied the clients location criterion.