cobb

Property Report 138 Cobb Rd Burpengary East

Owners have been seeking a price of $1.1 Million. The only offer they have had in the short time the property has been on the market is just over 1 million and was subject to the sale of the buyers existing home. 

This property in the right market will attract a price of $1.1 million easily. It is the best property in Burpengary East, which makes it hard to find anything to compare its value with. 

The right price for the house is $1,070 million with strong conditions. Subsequently your offer was accepted.

Please note that all figures and projections are very conservative and should be considered worst case.

Property Comparisions

cobb 1

138 Cobb Rd Burpengary East, Qld 4505

$1,070,000

  • 6
  • 3
  • 10
  • 4339m2
  • 400 m2
comp1

19-21 Scrubwren Ct Burpengary East, Qld 4505

$810,000

  • 4
  • 2
  • 5
  • 3000m2
  • 340 m2

Inferior Property, land shape is triangular, no sheds, smaller home. Land undulates , not flat. 

Sold March 2019

comp2

20 NECTAR WAY Burpengary East, Qld 4505

$710,000

  • 4
  • 2
  • 6
  • 2000m2
  • 307 m2

Inferior Property ,very small block, small single shed, smaller home. 

Sold Jan 2019

comp3

10 BOWERBIRD CL Burpengary East, Qld 4505

$960,000

  • 6
  • 3
  • 6
  • 3001m2
  • 310 m2

Inferior Property , odd shaped land, smaller block, good shed .

Sold June 2018

Summary

Very hard to find any property that meets or exceeds the standards, build and land size and property features  of 138 Cobb Rd. 

From everything I have seen 138 Cobb Rd is either the best or one of the best properties in the suburb. 

Property Future Valuation and Returns

Capital Growth Explanation

The capital growth for the area of Burpengary East is being affected bu the high number of land sales occurring in the area which do not reflect that actual established property prices in the suburb. 

For that reason I cam using the lowest capital growth numbers available to give a purely conservative worst case analysis of the property. This method is considered worst case examples and is ultimately the best form of future valuation reporting due to the worst case scenario. 

A second for of future valuation is also implemented to give a more reasonable and anticipated future valuation of the property.

Capital Growth - Conservative 2.76%

Explanation – The conservative capital growth report uses the average capital growth for a period of 10 years and projects that amount forward. In call cases this should be the worst case performance for the property. 

Capital Growth - Actual 5.1%

Explanation – The conservative capital growth report uses the average capital growth for a period of 10 years and projects that amount forward. In call cases this should be the worst case performance for the property. 

Assumptions 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr
Property Value
$1,070,000
$1,125,000
$1,242,000
$1,372,000
$1,760,000

Capital Growth - Potential 8%

Explanation – The potential capital growth report uses the potential capital growth for a period of 10 years and projects that amount forward.

I am using 8% however this is still conservative.  With the completing of the Harbour Development and thr Business park area, 10% is a more accurate amount. 

Rental Return

Explanation – There is nothing to compare this property too in regards to rental return. There are no other properties in the suburb that match the quality, size and features of 138 Cobb Rd.

There is evidence of a similar property in the4 next suburb that would be considered inferior receiving a rental income of $950 per week. 

For this reason I am employing 2 figures here, 1 ultra-conservative and 1 conservative anticipated, with  anticipated being the actual potential  rent this property should achieve minus $100 per week.

Ultra Conservative Rental Return

$620 per week

Anticipated Conservative Rental Return

$850 per week

3.01%

4.13%

NOTE – The 4.13% return is actually a very high return for a property of this value.

138 Cobb Rd has previously been rented in 2015 for $850 per week.

cobbrent

Suburb Statistics, Notes and Predictions

Suburb Growth

The Moreton Bay region is one of the fastest growing regions by population in Australia, and will continue to be the third largest local government area by population in Australia behind Brisbane and the Gold Coast. As at 30 June 2015 (ABS 2013), the region had an estimated current resident population of 399,406, and has shown dramatic growth over the past decade. The population is estimated to exceed 530,000 by 2031.

North Harbour will do much more than provide Burpengary and the Moreton Bay region with a residential community where people feel right at home. Its development will contribute to the Brisbane to Sunshine Coast corridor’s prosperity and growth.

North Harbour’s master plan will see a spirited community grow over a period of 15 years, with the development providing employment during construction and through the establishment of businesses and tourism opportunities at North Harbour marina*.

North Harbour Marina

North Harbour marina is proposed to grow to become one of Australia’s most vibrant recreational marina hubs. It will emerge to become a meeting place, somewhere North Harbour residents and their visitors want to spend time.

North Harbour marina will likely include a marina village, neighbourhood shopping centre, public spaces and promenades, cafés and restaurants, a 300-berth marina, 500 dry boat stacker, associated shipyard and cluster of marine industry businesses, as well as a range of housing choices, apartments and townhouses.

With its direct access to Moreton Bay, North Harbour will play a key role in meeting the strong demand for marine-related industry development. The establishment of marine industries, with an education and training centre, will see the precinct drive economic growth and workforce development in Burpengary East, Morayfield and the greater Morton Bay Region, while also helping to satisfy the growing regional demand for marina berths and marine facilities.

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Summary

Description Amount
Property Type
House
RPD
L4 SP150796
Year Built
2003
Zoning
752, Rural Residential
Last Sale
25-March-2011
Last Sale Price
$865,000
Description Amount
Purchase Price
$1,070,000
Stamp Duty Total
$38,364
Conveyancing
$1495
Building and Pest Inspection
$545
Buyers Agents Fees
$7500
Total
$1,179,904

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