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Qualified Properties For Secondary Residence Potential

Potential Gross Return: 6.32%

Address: 31 Scarlett Street, Melba ACT 2615 Block-Size: 653 sqm
Block: 28 Section: 31
Type: House House/Building Size: TBC
Bedrooms: 4 Bathrooms: 2
Garaging/Car Spots: 1 EER: 1.0
Unimproved Value: $670,000 (2022) UV Price Ratio: 83.75%
Sales Method: Auction (2023-03-18) Recommend Purchase Price: 800000
Rates Residential: $3,279* Land Tax Residential: $5,284*
Property Link: https://www.allhomes.com.au/31-scarlett-street-melba-act-2615 Marketing Agent: Tyran Murphy and Brett Hayman
Date Added: 08/03/23

Photos:

Block Details

Block Size: 653 sqm Block Type: Large Block
Zoning: RZ1: SUBURBAN Frontage Approx:
Precinct Code: 31 Scarlett Street, Melba ACT 2615 Precinct Code Download Heritage: N/A
Planning Assessment Report: PAR - 31 Scarlett Street, Melba ACT 2615

 

Suburb information

Median house price: 1455000 Median house rent: 695
Suburb highest price: 1455000 Rental vacancy rate: 0.55
Medium household income (Census 2021): $2,326 Income to rent ratio: 30%
Download Suburb Profile: Profile - March 2023

Property Purchase Recommendation Summary

Recommend Purchase Price: $800,000 Estimated Stamp Duty: $28,150
Approx Legal And Building Report Costs: $3,000 Total Purchase Investment: $828,150

Recommended Secondary Residence

Recommended Secondary Residence: https://www.canberragrannyflatbuilders.com.au/design-pages/design-256 Approx Turnkey Build Cost inc GST: $240,000
Downloadable Brochure: Design Brochure - 256 Download Proposal: PAP - 31 Scarlett Street, Melba ACT 2615

 

Potential Rental Income

Rental Income Stratgety: Potential Gross Weekly Rental Income of Existing Property: $700
Potential Gross Weekly Rental Income of Recommended Design: $600 Potential Combined Gross Weekly Income: $1,300
Potential Combined Gross Annual Income: $67,600

Financial Summary

Total Purchase and Build Investment: $1,068,150 Potential Combined Gross Rental Annual Income: $67,600
Potential Gross % Return: 6%

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