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Qualified Properties For Secondary Residence Potential

Potential Gross Return: 6%

Address: 3 Mentha Place, Rivett ACT 2611 Block-Size: 1034 sqm
Block: 2 Section: 52
Type: House House/Building Size: TBC
Bedrooms: 4 Bathrooms: 2
Garaging/Car Spots: 2 EER: 2.0
Unimproved Value: $709,000 (2022) UV Price Ratio: 91.48%
Sales Method: $799,000 (Private Treaty) Recommend Purchase Price: 775000
Rates Residential: $3,320* Land Tax Residential: $5,365*
Property Link: https://www.allhomes.com.au/3-mentha-place-rivett-act-2611 Marketing Agent: Peter White and Nick Paine
Date Added: 27/03/23

Photos:

Block Details

Block Size: 1034 sqm Block Type: Large Block
Zoning: RZ1: SUBURBAN Frontage Approx:
Precinct Code: 3 Mentha Place, Rivett ACT 2611 Precinct Code Download Heritage: N/A
Planning Assessment Report: PAR - 3 Mentha Place, Rivett ACT 2611

 

Suburb information

Median house price: 915000 Median house rent: 690
Suburb highest price: 990000 Rental vacancy rate: 0.43
Medium household income (Census 2021): $2,207 Income to rent ratio: 31%
Download Suburb Profile: Profile - March 2023

Property Purchase Recommendation Summary

Recommend Purchase Price: $775,000 Estimated Stamp Duty: $26,675
Approx Legal And Building Report Costs: $3,000 Total Purchase Investment: $801,675

Recommended Secondary Residence

Recommended Secondary Residence: https://www.canberragrannyflatbuilders.com.au/design-pages/design-256 Approx Turnkey Build Cost inc GST: $238,000
Downloadable Brochure: Design Brochure - 256 Download Proposal: PAP - 3 Mentha Place, Rivett ACT 2611

 

Potential Rental Income

Rental Income Stratgety: Potential Gross Weekly Rental Income of Existing Property: $650
Potential Gross Weekly Rental Income of Recommended Design: $550 Potential Combined Gross Weekly Income: $1,200
Potential Combined Gross Annual Income: $62,400

Financial Summary

Total Purchase and Build Investment: $1,039,675 Potential Combined Gross Rental Annual Income: $62,400
Potential Gross % Return: 6%

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