Check out this week’s smart property investor case study. 10km from CBD, $530k with the ability to create real value and or satisfy growing family requirements.
This is a post-war home with no money to spend on repairs and a great option for an investor or first home owner. Located in a quiet street comprised predominately of post-war timber and masonry homes. Recently purchased for $530,000. Well kept home for investors or buyers on a limited budget, but located still relatively close to the CBD, shopping districts and conveniences.
This property is a smart buy because of its:
- Approximately 10 km from Brisbane CBD
- Close proximity to large neighbourhood shops, schools, cafes and parks
- Moderately leafy, quiet suburb predominantly owner-occupied with families
- Land area – 610 m2.
Construction and fit out:
- High set post-war home with 3 bedrooms, 1 bathroom, 2 car accommodation
- North-easterly aspect overlooking parklands
- Elevated with leafy outlook
- Semi open-plan living space
- Polished timber floors and painting in good condition
- Semi modern kitchen and bathroom
- Built-in cupboards
- Plenty of storage for tenants with families to settle in long term and feel comfortable
- Predominately plasterboard linings internally (i.e. minimal asbestos)
- Concrete stumps, copper plumbing and modern cabling (no need to replace going forward).
- The following attributes make this home a cost-effective renovator. Compared to other homes, it’s much easier to extend and create value due to:
- existing roof design
- portion of the lower level already at legal height
- natural fall of the land allows for minimal excavation
- location of services
- position of the home on the land, (no requirement to move or lift the dwelling)
- This home can be extended to create additional living space with a large wrap-around verandah to capitalise on the elevation and orientation
- Front facade would benefit with simple alterations to create a contemporary feel and improve its street appeal.
- Rental return of $460 per week
- The immediate location for unrenovated post-war homes on land with 610 m2 has seen 20-25 % growth in the last 5 years.
- Local authority rates approximately $1,600 per annum
- Tax depreciation benefit first year – $1,100
- Tax depreciation benefit (10 year accumulative) – $5,000.
Transit times (approximate)
- Car – 25 mins
- Bus – 60 mins
Nearest train station
- Walk – 30 mins
- Car – 5 mins
- Second tiered shopping centre (Woolworths/Coles/strip shops/cafes) – 5 mins
- Hospital – 20 mins
Value for money:
- It is great value as it will be easy to extend the living area, and there is capacity to enclose the lower level that is already at legal height
- Almost no asbestos located internally, with most wall and ceiling linings being plasterboard lined throughout
- Nothing to be spent in the short to medium term for maintenance.
- Property investors
- First home buyers
- Home buyers on a budget with growing family requirements for space.
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.
FREE session: “Brisbane Property Buyers Strategy Session”
Imagine being crystal clear on what’s most important to you, so you buy the property that sets you up best financially and lifestyle-wise. Book a free strategy session with us where you will clarify your Buying Brief and get some insight into property opportunities available in Brisbane right now.
You will leave this session knowing exactly the type of property you need to help you grow a strong financial future and property portfolio.
To book your “Brisbane Property Buyers Strategy Session” register at the form to the right of this blog, call 0409 499 034 or email firstname.lastname@example.org