Qualified Properties For Secondary Residence Potential

Potential Gross Return: 5.16%

Address: 2 Nyrang Street, Narrabundah ACT 2604 Block-Size: 958 sqm
Block: 2 Section: 2
Type: House House/Building Size: TBC
Bedrooms: 2 Bathrooms: 1
Garaging/Car Spots: 1 EER:
Unimproved Value (2022): $890,000 (2022) UV Price Ratio: 93.68%
Sales Method: Auction (2023-03-18) Recommend Purchase Price: 950000
Rates Residential 2022: $3,984* Land Tax Residential 2022: $6,683*
Property Link: https://www.allhomes.com.au/2-nyrang-street-narrabundah-act-2604 Marketing Agent: David Stokes
Date Added: 01/03/23

Photos:

Block Details

Block Size: 958 sqm Block Type: Large Block
Zoning: RZ1: SUBURBAN Frontage Approx:
Precinct Code: 2 Nyrang Street, Narrabundah ACT 2604 Precinct Code Download Heritage: N/A
Planning Assessment Report: PAR - 2 Nyrang Street, Narrabundah ACT 2604

 

Suburb information

Median house price (2022): $3,625,000 Median house rent (2022): $700
Suburb highest price (2022): $3,625,000 Rental vacancy rate (2022): 1.3%
Medium household income (Census 2021): 2352% Income to rent ratio: 30%
Download Suburb Profile: Profile - March 2023

Property Purchase Recommendation Summary

Recommend Purchase Price: $950,000 Estimated Stamp Duty: $37,000
Approx Legal And Building Report Costs: $3,000 Total Purchase Investment: $987,000

Recommended Secondary Residence

Recommended Secondary Residence: https://www.canberragrannyflatbuilders.com.au/design-pages/design-144 Approx Turnkey Build Cost inc GST: $220,000
Downloadable Brochure: Design Brochure - 144 Download Proposal: PAP - 2 Nyrang Street, Narrabundah ACT 2604

 

Potential Rental Income

Rental Income Stratgety: Potential Gross Weekly Rental Income of Existing Property: $600
Potential Gross Weekly Rental Income of Recommended Design: $600 Potential Combined Gross Weekly Income: $1,200
Potential Combined Gross Annual Income: $62,400

Financial Summary

Total Purchase and Build Investment: $1,207,000 Potential Combined Gross Rental Annual Income: $62,400
Potential Gross % Return: 5%

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