The Value Add

                                                                        23 Dallachy Street, Page                  


The Numbers


3 - Bedroom 

1 - Bathroom

4 - Car space


Total Space - 988m2

Internal Living Area - 92.51m


Position - South (Front) / North (Rear)


Auction (April 22, 2017)

No price guide


Land Value (2016)



Recommended Auction Max



Pre-Auction Purchase Price



Estimated Rental Return

$450/wk (current) / $500 (post reno) 


Gross Rental Yield (target price) 

4.17% (current) / 4.63% (post reno)



Rates = $2,510 p.a

Land Tax = $4,000 (approx.)


Acquisition Cost (on auction max)

Bank Loan = $480,000 (80% LVR)


Deposit Required = $120,000

Stamp Duty = $18,857

TOTAL OUTLAY = $138,857


Cash Flow (per month) 

Rent received = $1,950 (current)

Property Management = $136.50

Your mortgage = $1,584*
Rates & Land Tax = $542.50 

Insurance = $80

BALANCE = -$393/month


*3.96% based on pre-approval / Interest Only


Renovation Allowance

$50,000 (full feasibility TBC)


Other Fee's

Professional = $1,800 + $300 (excl. GST)


Milk Chocolate Fee's

Purchase: $12,980 - $3,245 (already paid)

Project Management: $5,500 (inc. GST)


Total Outlay (inc. GST)

Purchase Price = $600,000

Settlement Misc. Estimate = $850

Stamp Duty = $18,857

Professional Fee's = $2,310 

Renovation = $50,000

Milk Chocolate = $9,735 

Milk Chocolate = $5,500 

Sub-Total = $687,252 

- $480,000 (bank loan) 


Net Total = $207,252


The Recommendations



Already completed



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

- Approx. $80/month


Quantity Surveyor

Tax depreciation report -

Approx. $400 (once off)


Leasing Agent

Independent Property Group


The Documents


Contract of Sale & Building/Pest

The Details

Agents Advertising Details
Occupying 988m2 (approximately) in Rz2 (multi-dwelling zone) core area, offering a spectacular combination of single level functionality with an enviable ultra-convenient location- this generously proportioned home provides the practicality of present living with the dreams of future development. 

Complete with three bedrooms, an enticing living area, dining room and open study, a separate toilet and bathroom - it leaves a very practical floor plan and harmony for the whole family.

Other features include ducted gas heating, gas hot water, double carport and a large double garage.
Future opportunities could allow flexibility with a second dwelling being built at the rear of the home (subject to council approval). Located a stone's throw away from the Page shops and only moments away from the Belconnen markets and town centre your weekend shopping is literally a walk away.
Not to mention 5-star dining, cinemas and the Canberra International Sports and Aquatic Centre - just a short stroll away. 
Our Thoughts
We love this property and are very excited by the opportunities that it presents - immediately and in the future. The options are endless. Currently, the property is in a condition that can be leased immediately, with new carpets throughout and the bathroom in good condition. Our recommendation is to renovate before a tenant moves in. More on this below.
Speaking with the agent, they have had offers of $500k and $505k during the campaign. These are well under our perceived value of the property and the agent hinted that he expects it to land in the mid $500's. The agent has also provided a rental appraisal of $400 - $430/wk. We believe this is low and our research gives us a $450/wk rental valuation.
Across the road is three commercial dwellings (Page Tavern, Plumbing centre and Men's Shed). We would recommend installing nice hedge style trees/plants across the front of the property for added privacy. Our conversations with the agent are that the demographic of patrons at the tavern is older men in their 50's and 60's. He believes they generally visit there on the way home at about 3.30 and leave by 6 pm. Younger kids do not go to this establishment. The Men's Shed is a community premise where men can frequent on the weekend to build items for the community free of charge. Although it's not ideal, the positives far outweigh these possible concerns.
What We Recommend
• Provide a written offer pre-auction (signed contract), with a section 17 certificate (un-conditional) accompanied with a 5% bank cheque deposit. The offer would include conditions for a 49-day settlement and early access to start work. We recommend an offer at $561,000. If the offer is not accepted, we then recommend bidding at the auction with a max. purchase price of $600,000.
• Once successful, we recommend completing the following work on the property; 
- Internal painting throughout
- Replace window furnishings
- Update lighting with downlights throughout
- Knock out the wall separating kitchen, living and family rooms and install                                                   a new kitchen. Furthermore, remove walls around foyer entrance (if possible)
- Timber deck over the existing deck, install shading and replace the kitchen windows with bi-folds
- Spray bathroom tiles, bathtub and update vanity, fixtures and fittings
- Basic landscaping front (hedge plants for privacy) and back 
- Front patio
- Repair timber fencing where required
* Estimated cost of works is $50,000
• We would then recommend leasing the property (see below analysis)
• We then recommend completing the following when you are comfortable financially to do so;
- Build new granny flat and reposition car port (allowing access to granny flat (this should include taller fencing to separate the granny flat from the main residence) 
- Extend out to include a 4th bedroom, ensuite and living area to the rear right-hand side of the current dwelling (approx. 30m2)
- Acrylic render on existing dwelling (possibly complete this in 1st stage of work if funds available)
* Cost of works TBC
Investment Data
Click here
CoreLogic Property Report
Click here

Distance to CBD

9.3km by car and 8km as the crow flies


Recent data from the 2011 Census suggest the population is 2,880. Increased by 7% over the past 5 years.

Medium Property Price

The medium price for 3 bedroom houses in Page is $514,000

1 / 5

Please reload


The Stats


Adding Value

Weighing It Up

• An absolute opportunity to add value through cosmetic, structural and new dwelling builds - creating equity and stronger rental yields

• The property is suitable to lease out straight away if desired

• Structurally the property is solid

• Vacant premise, early access possible

• Extremely strong rental demand

• Walking distance to Westfield

• Great access to public transport

• A Large block of land with 25m frontage. Opportunity for multi-dwellings in the future (STCA)

• RZ2 zoning - provides an opportunity to sub-divide or multiple dwellings on the one block

• New duplex builds withing 200m​

• Flat block of land



• Across the road from the Page Tavern and other small commercial businesses

• Next door is a row of townhouses (this is also a positive as it shows the council is approving these builds on similar sized land to this property)

• Goes to auction and there's a possibility we'll be up against builders who could turn this over at a smaller cost than we can and therefore willing to pay a premium on auction day

80% LVR - Interest Only - 3.96%

90% LVR - Principal & Interest - 4.59%

Infrastructure Snapshot


Belconnen Town Centre
Master plan

  • The Belconnen Town Centre Master Plan defines what is important about the centre and will guide growth and development over the next 10 to 15 years. The master plan identifies land use, economic, social and environmental opportunities and challenges. It investigates opportunities for additional residential development and urban renewal. The master plan recommends ways to:

  • reinforce the town centre’s role as a major community and commercial hub for the Belconnen District and wider Canberra region

  • stimulate urban renewal in the town centre through changes to the Territory Plan

  • enable active and attractive destination areas that better utilise the centre’s lakeside location

  • identify opportunities for improvements the centre’s public spaces

  • improve access and amenity in the town centre through recommended improvements to the cycle and pedestrian networks, and

  • improve the town centre’s relationship and connectivity with the University of Canberra.​

Housing Commission Heat Map

11% of residents rent from a state or federal housing authority in the area

Sold - Un-Renovated 3 Bedroom Homes 

Sold - Renovated 3 Bedroom Homes


Dallachy Street leading upto #23

Our Photos

Photos were taken on the iPhone. The last photo is a recent sub-division 200m down the road on a RZ2 block

What Social Media Is 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.