Edens Landing Off Market Transaction This property was available for sale prior to being released to the public. The property is in very good condition and will be painted prior to sale. All bedrooms are of a good size with master bedroom including an ensuite. Features open plan living area and fully fenced back yard.
There is an easement at the back of the property which has been factored into the price.
The house size itself is very good and the land is over 700 m2. There is an easement at the back of the property which keeps it price below $400,000. You get a lot of house for this money. Location is very good with parklands at the bottom of the road and very close to railway station which takes you to Brisbane or the Gold Coast.
I value this house at $400,000, accounting for the easement.
Price, we need to be between $380K and $390K. I have a strategy for the lower price and that would be very good value.
Rental Return, $420 per week which equates to a return of 5.7% THIS IS VERY HIGH RETURN
Actual money without considering ongong costs, tax benits etc, finance with a 10% deposit at 4.5% interest only would cost $295 per week.
Thats over $100 per week cash flow positive. THAT IS A VERY GOOD RETURN
Please see the below financial analysis for a more accurate after tax result.
Recomendations
This is a good investment option with potential for long term capital growth. The region is growing rapidly with many new suburbs opening up further South than this one.
You are positioned 30 kilometres South of Brisbane and 40 kilometres North of the Gold Coast.
Price
Becuase of the relationship I have with the agent, there is generally very little point in going backwards and fowards with offers. The owners want as close to $400K as they can get but I have mentiioned the easement and he is realistic. His bottom dollar is $390,000. We can try and negoatiate for a lower amount but at $390,000 I think we have a very good property.
Supporting Information
There is a button on the right above this that will downloand the full RPdata report and you can see all the sales in the area and the rentals.
There is anothr button that will take you to the Realestate.com listing for the property.
All reporting I have looked at puts the value if this property above $390,000.
Purchase Costs
Stamp Duty : $13,151.00 incuding transfers and mortgage
Conveyancing : $1,700.00
Buding and Pest Inspection : $520.00
Buyers Agents Fees : $5,500.00 inlcuding GST
Total : $20,871.00
