20% OFF list price and 8% yield.
And it pays you to buy it!
Want a Melbourne property that pays you to buy it? This does.
This is yet another spectacular buy for one of our clients. Who says you cannot invest in property with under $20k? You can. And we've found one.
This property is hiding in a Victorian town, not far from Melbourne, with an ultra low vacancy rates of just 0.2%, has just gone unconditional.
✅ $45,000 savings
✅ 21% off list price
✅ Only $8,500 cash to secure*
✅ $95,000 below valuation
✅ 8.1% rental yield
✅ Ultra low 0.2% rental vacancy
✅ Double size block
✅ Potential for 4 to 5 new houses.
Here are the purchase numbers:
List Price: $215,000
Bought: $170,000 (a 20% savings)
Buyer Agent Fees: $11,000
Savings for our client: $34,000
This is not just another purchase. Other positives includes:
1. Immediate Equity of $95,000
The bank subsequently valued this property at $265,000, ie, this property has an immediate positive equity of $95,000! Yes, refinance or access your equity at 80% LVR, and you'll get you'll get $19,000 back in your bank account almost immediately!
2. Rental yield of 8.1%
Rental has been appraised at $265 per week, making this a 8.1% yield. And in this region of ultra low vacancy rates, this will be leased in no time.
3. Developers dream. Profit circa $400,000
Did I mention this property sits on a double sized block? It is on a full 1500 sqm land. The creative developer will have no trouble building at least 4 townhouses on this land. New townhouses in the area are being sold at $450,000 to $500,000. Factoring a build cost of $1.2m, there is a potential for a tidy profit of $400,000 conservatively.
Positive cashflow properties like this with good rental yield and instant capital growth are almost impossible to find. But we found it.
Get in touch, if you want a similar one. We cannot promise we'll find another one with such potentials, but we'll be working hard to get something for you.
* Buyers eligible for the First Home Loan Deposit scheme pays only $8,500 to secure this!