• $1,500 engagement fee + 1.5% on final sale price + gst
• 10% on total renovation costs for Project Management (if any) + GST
Building & Pest - Approx. $400 (one off)
Strata - Approx. $300 (one off)
Full landlord insurance inc. damage, loss of rent, theft, legal and contents
- Approx. $300 p.a
Tax depreciation report -
Approx. $400 (one off)
About the property
Quietly positioned and ideally located, this home is set in a tree-lined street oozing with character it will be sure to impress that first home buyer of investor.Offering 3 Large Bedrooms with BIR (Master Ensuite/WIR), Open living/dining areas, Separate BathroomTremendously located, families will definitely enjoy the gentle stroll to Buckingham Reserve and Kororoit Creek trails. Only minutes away from Public transport, Local schools, Cafes/Shopping Centers, Cinemas, Medical Centers and access to Melbourne CBD just down one road.
• Property size is 222sqm
About the suburb
We see a unique opportunity with this property and would reccomend a 'low ball' offer given its current state. The strategy on this would be to use the savings made on a hopefully accepted 'low ball' offer to give the unit a make-over. We would estimate $20,000 would be required to complete this. We believe after this renovation that we would see the properties new value to fall in-between $370,000 - $390,000.
However, as we have mentioned previously, we dont see long term capital growth for units in Penrith so our suggestion would be to sell the property after 12 months (given a positive valuation after the renovation and market research).