Check out this week’s featured “Investment Property Buy of the Week.” 7 Km from CBD and under $500k.
This is a post-war home on 405 m2 with no money to spend on repairs and a great option for an investor or first home owner. Located in a quite street comprised predominately of post-war timber and masonry homes. It was recently purchased for $480,000. A very straight forward option for buyers on a limited budget but located relatively close to the CBD.
This property is a smart buy because of its:
- Approximately 7 km from Brisbane CBD
- Close proximity to major shopping district, neighbourhood shops, schools, cafes and parks.
- Leafy suburb predominantly occupied by families
- Land area – 405 m2
Construction and fit out:
- Low set post-war home with 3 bedrooms, 2 bathrooms, 2 car accommodation
- South-easterly aspect
- Hold long term with the view to demolish existing improvements to construct a contemporary dwelling
- Rental return of $400 per week
- Local authority rates approximately $1,600 per annum
- Tax depreciation benefit first year – $1,200
- Tax depreciation benefit (10 year accumulative) – $6,000
- The immediate location for unrenovated post-war homes on land with 405 m2 has seen 20-25 % growth in the last 3 years.
Transit times (approximate)
- Car – 20 mins
- Walk – 15 mins
- Car – 5 mins
- Major shopping Center (Westfields or equivalent) – 5 mins
- Second tiered shopping centre (Woolworths/Coles/strip shops) – 5 mins
- Hospital – 15 mins
Value for money:
- It’s great value as similar style 3 bedroom, 1 bathroom homes sell for the similar amount. This has the advantage of the second bathroom which makes it an attractive rental proposition for prospective tenants
- Nothing to be spent in the short to medium term.
- Property investors
- First home buyers.
How do we know this is a smart buy?
We put this property through our proprietary property analytics tool, our Smart Buyers Index and believe it was a great opportunity for property investors or developers. Our Smart Buyers Index gives our clients the inside running on smart buys in Brisbane. We’ve developed it from our more than 20 years in the property industry working as a registered valuer, quantity surveyor and in sales. When you work with us that means you can tap straight into our experience and save yourself loads of time, money and frustration.
Would you like help with your next investment property purchase?
As a Brisbane buyers agent we are totally committed to helping you make a smart buying decision on your next property purchase. We act independently and only select homes that meet our strict ‘smart buying’ criteria.
Our clients’ regularly tell us they engaged us because they were frustrated, and at the end of their tether, looking for a property in Brisbane that suited them. They were sick of wasting their time at weekend open homes and in the evenings – time that could be better spent with their loved ones.
We’d love to help you make your next Brisbane property investment or home purchase.
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