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Qualified Properties For Secondary Residence Potential

Potential Gross Return: 6.73%

Address: 6 Edwards Street, Higgins ACT 2615 Block-Size: 677 sqm
Block: 18 Section: 28
Type: House House/Building Size: TBC
Bedrooms: 3 Bathrooms: 1
Garaging/Car Spots: 1 EER: 2.5
Unimproved Value: $531,000 (2022) UV Price Ratio: 75.86%
Sales Method: Auction (2023-06-08) Recommend Purchase Price: 700000
Rates Residential: $17,480* Land Tax Residential: $4,095*
Property Link: https://www.allhomes.com.au/6-edwards-street-higgins-act-2615 Marketing Agent: Fleur Scheele
Date Added: 10/05/23

Photos:

Block Details

Block Size: 677 sqm Block Type: Large Block
Zoning: RZ1: SUBURBAN Frontage Approx:
Precinct Code: 6 Edwards Street, Higgins ACT 2615 Precinct Code Download Heritage: N/A
Planning Assessment Report: PAR - 6 Edwards Street, Higgins ACT 2615

 

Suburb information

Median house price: 775000 Median house rent: 620
Suburb highest price: 900000 Rental vacancy rate: 0.65
Medium household income (Census 2021): $2,248 Income to rent ratio: 28%
Download Suburb Profile: Profile - May 2023

Property Purchase Recommendation Summary

Recommend Purchase Price: $700,000 Estimated Stamp Duty: $23,040
Approx Legal And Building Report Costs: $3,000 Total Purchase Investment: $723,040

Recommended Secondary Residence

Recommended Secondary Residence: https://www.canberragrannyflatbuilders.com.au/design-pages/design-383 Approx Turnkey Build Cost inc GST: $319,946
Downloadable Brochure: Design Brochure - 383 Download Proposal: PAP - 6 Edwards Street, Higgins ACT 2615

 

Potential Rental Income

Rental Income Stratgety: Potential Gross Weekly Rental Income of Existing Property: $600
Potential Gross Weekly Rental Income of Recommended Design: $750 Potential Combined Gross Weekly Income: $1,350
Potential Combined Gross Annual Income: $70,200

Financial Summary

Total Purchase and Build Investment: $1,042,986 Potential Combined Gross Rental Annual Income: $70,200
Potential Gross % Return: 7%

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