The Entertainer

2/11 Edgar Street, Kingsville


The Numbers


2 - Bedroom

2 - Bathroom

2 - Car space



$590,000 + (Price guide)

Auction: September 17, 2016

Our Target Purchase Price


This property is going to auction so there are many influencing factors outside of our hands. This is the price that we believe is the true value based on our market analysis.

Estimated Rental Return



Gross Rental Yield (target price) 




Water - $300 / qtr (TBC)

Council - $450 /qtr (TBC)

Investment Cash Flow (per month) 

Your rent received = $1,820

Your mortgage = $2,490*
Your outgoings = $250 (approx.)

BALANCE = -$920/month

*Based on your CBA pre-approval dated 9th of June


General Residential Zone (GRZ1)


This means: There is no area for concern with this property relating to the zoning regulations.


Renovation Allowance

Not required at this stage


Other Fee's

Professional: Approx. $1,750 

Stamp Duty: $33,927 (based on target price).


Milk Chocolate Fee's

• 0.9% on final sale price + gst ($5,580 + gst based on target price).

Total Outlay

Purchase Price = $620,000

Settlement Misc. Estimate = $1,500

Stamp Duty = $33,927

Professional Fee's = $1,750

Milk Chocolate = $5,580

Milk Chocolate Incidentals = $1,500

= $664,257  


The Recommendations



Building & Pest - Approx. $450 (one off)



Full landlord insurance inc. damage, loss of rent, theft, legal and contents

- Approx. $300 p.a


Quantity Surveyor

Tax depreciation report -

Approx. $400 (one off)


Leasing Agent

The Documents


Contract of Sale

To be supplied

The Stats

Distance to CBD

7km from the Melbourne CBD.


The population in 2006 was 3,347. Recent data from the 2011 Census suggest the population is now 3,509.

Medium Property Price

The medium price for 2 bedroom houses in Kingsville is $835,000 and $355,000 for 2 bedroom units in kingsville.

1 / 5

Please reload

Infrastructure Snapshot


  • A $4.6 million investment in cycle ways and footpaths across our City will make wandering the local neighbourhoods by foot or pedal even more enjoyable

  • $8 million to improve Council-owned roads across the City, making them safer and easier to drive on

  • $970,000 for the renewal of nine reserves and open spaces, with two popular parks made even more appealing on sunny days, with Skinner Reserve receiving shade tree planning and a shade sail for McNish Reserve

  • Renewal works at the Kingsville Kinder and Brenbeal, Angliss, Kingsville and Saltwater Children’s Centres, to give our young residents the best care they can get in the crucial first years of life.

  • $100k for crossing renewals will also make it safer for children and families to get to and from care centres and schools

  • $250,000 for cleaning and an exciting Laneway Activation Project in Footscray, as we continue support and promote the vibrancy and tourism appeal of this cultural hub

  • Support for community-driven events such as the Seddon and Yarraville Festivals, along with supporting the New Little Music Festival and Australia Day favourite, the Stony Creek Music Festival

  • Upgrades to many local sporting clubs to pavilions and club rooms, and new public exercise equipment for North Braybrook – as we remain dedicated to an active and healthy community

  • $500,000 will provide further planting of trees in streets, boulevards, and parks, as we continue to green our City.



The Details    


About The Property
The ultimate entertainer. This recently renovated Inner city pad ticks alot of boxes as an investment property. It's in the small Inner West pocket of Kingsville, nestled between Yarraville, West Footscray and Footscray. Surrounded by public transport connections and only being a short commute into the CBD, it's sure to attract the busy young professional who likes to entertain. The property was built in 2010 so there's still opportunity for tax depreciation on the build, fixtures and fittings (please consult your accountant for further information). Brick veneer finish with stainless steel kitchen appliances. The land is sub-divided into 3 lots; Lot 1 - 2 bed freestanding house on 274sqm / Lot 2 - 2 bedroom townhouse on 127sqm / Lot 3 - 2 bedroom townhouse on 160sqm. We're looking at Lot 2.
The current vendors have turned the garage into a studio/second living area. The potential is to leave this as is, convert into a 3rd bedroom (STCA) or return the space to a garage. We would like to view the property first and then give you a recommendation on our thoughts.
Agent Advertising Details:
• Superbly updated town residence offers expansive living just minutes to all the popular cafes and restaurants the Inner-West has to offer
• Unique large side garden
• Lock up parking which doubles as an indoor studio or further entertaining space
• Two generous size bedrooms with access to their own bathroom (the main with a walk in robe)
• Separate laundry facilities

Your Brief Specifics
• 1.5km from the train station - This property is 1.2km from West Footscray Station (15 minute walk)
• Land size 400sqm block / 120sqm house - This townhouse falls shy of your prefered land and living     area specs - 127sqm land and 88sqm living area. It does however use every square metre to it's full     potential with quality finishes and outstanding outdoor entertaining area.
• 10% capital growth / 5% rental yield - We note the capital growth for the past 12 months in Kingsville    is 13.09% and the rental yield is 3.0%. There is no way to guarantee that the property you buy will        increase in value, but in order to increase your chances, we have carried out detailed research on        the property and Kingsville in general. We estimate that the rental yield will be below your                      ideal 5%. Overall Melbourne yields are low in comparison to other markets. We believe as demand      catches up with supply in Melbourne (following suit in Sydney), that demand for housing will grow        and rental yields will increase. This property is in great condition and presents an opportunity to          attract higher rent and quality tenants. 

Our Thoughts
We have included this property to the mix because we believe it's a great investment property for your portfolio. There's nothing left to do with this property, it really is a sit and forget scenario. Our only concern is the true value of the property. Being very unique in the area, there's very few accurate comps to get a true value. We have listed the target price as $620,000, however, this could be short of the mark. Our preference would be to complete the site inspection to be able to give you a more accurate valuation.
Suburb Specific Data
Click here​
Investment Data
Click here​
RP Data Report
Click here​
Related News Articles 
Click here​​

Comparable Sold Properties

18th of September

    23/296 Sommerville Rd,  Kingsville 

VIC 3012


Comparable Properties for Rent

Available September

3/40-42 kingsville St, Kingsville 

VIC 3012



What is Social Media Saying?

* Milk Chocolate price data used on this website is sourced and relies upon information supplied by a number of external sources (including governmental authorities). This data is supplied on the basis that while Milk Chocolate believes all the information provided will be correct at the time of writing, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information on this website through any cause whatsoever and limits any liability it may have to the amount paid to the external sources for the supply of such information.