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Qualified Properties For Secondary Residence Potential

Potential Gross Return: 4.95%

Address: 17 Cole Street, Downer ACT 2602 Block-Size: 741 sqm
Block: 34 Section: 68
Type: House House/Building Size: TBC
Bedrooms: 2 Bathrooms: 1
Garaging/Car Spots: 5 EER:
Unimproved Value: $924000 (2022) UV Price Ratio: 90.15%
Sales Method: Auction (2022-09-03) Recommend Purchase Price: 1025000
Rates Residential: $4,288* Land Tax Residential: $7,280*
Property Link: https://www.allhomes.com.au/17-cole-street-downer-act-2602 Marketing Agent: Alistair Morrel and Peter Morrel
Date Added: 22/11/24

Photos:

Block Details

Block Size: 741 sqm Block Type: Large Block
Zoning: RZ1: SUBURBAN Frontage Approx:
Precinct Code: 17 Cole Street, Downer ACT 2602 Precinct Code Download Heritage: N/A
Planning Assessment Report: PAR - 17 Cole Street, Downer ACT 2602

 

Suburb information

Median house price: 1333000 Median house rent: 670
Suburb highest price: 2055000 Rental vacancy rate: 1.25
Medium household income (Census 2021): $2,267 Income to rent ratio: 30%
Download Suburb Profile: Profile - November 2024

Property Purchase Recommendation Summary

Recommend Purchase Price: $1,025,000 Estimated Stamp Duty: $41,550
Approx Legal And Building Report Costs: $3,000 Total Purchase Investment: $1,066,550

Recommended Secondary Residence

Recommended Secondary Residence: https://www.canberragrannyflatbuilders.com.au/design-pages/design-305 Approx Turnkey Build Cost inc GST: $320,000
Downloadable Brochure: Design Brochure - 305 Download Proposal:

 

Potential Rental Income

Rental Income Stratgety: Potential Gross Weekly Rental Income of Existing Property: $650
Potential Gross Weekly Rental Income of Recommended Design: $670 Potential Combined Gross Weekly Income: $1,320
Potential Combined Gross Annual Income: $68,640

Financial Summary

Total Purchase and Build Investment: $1,386,550 Potential Combined Gross Rental Annual Income: $68,640
Potential Gross % Return: 5%

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