Every day I search the Brisbane property market for good investment properties for my clients.

Every Monday I send one out for free to give you an insight into how an investor finds and assesses properties.

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Property of the Week #30- 1st Feb, 2016

Address: 24 Goondoola Street, Redbank Plains, QLD 4301

Area: Ipswich City Region

Property Type: 3 Bedroom, 1 Bathroom, 2 Car House

Land Size: 1,040sqm

Listing: http://www.domain.com.au/24-goondoola-street-redbank-plains-qld-4301-2012520901

Estimated Market Value: $300,000 (sign up below to get the full valuation report)

Listed Price: $268,000

Rental Return: $310 – $330 per week according to agent  (6% yield)

Affordability: Cash-flow positive by $4/wk (calculated for an investor with an income of $50k/yr).

The Verdict

This property is definitely for the Renovators and small Developers among us.

It’s a triple whammy with high capital growth potential AND a discount below market value to create instant equity AND future development potential to add value and manufacture your own capital growth.

High capital growth potential

Terry Ryder, Australia’s leading property researcher and Director of Hotspotting.com.au, has his to say about the Ipswich area:

Ipswich has shown strong growth in the past but we believe its evolution into a headline hotspot of national standing will continue well into the future. There remain many suburbs that are attractively affordable for first home buyers and investors on a budget.”

Discount ($32k)

This property has been listed at $268,000. The estimated market value of the property is $300,000 (sign up below to get the full valuation report) which potentially puts you $32,000 in front from day 1.

Affordability (+$4/wk)

With a rental yield of around 6% this property provides a good return. Our cash-flow analysis estimates that this property will be cash-flow positive by around $4 per week.

Future development potential

This is a good investment property “as-is” and can be rented out immediately. But it also provides potential to add value and manufacture your own growth in the future because it is situated on a large block that has the potential to be subdivided or developed (subject to Council approval of course).

There is also potential to add value to the property by renovating.

Get the full details, analysis, and research…

Join the Property of the Week Club to get the full report on this property. It includes:

  • The valuation report
  • The rental appraisal
  • Cost calculations for an investor earning $50k p.a.
  • Profile of the Ipswich City Region as a growth area
  • Links to the resources we’ve used for our research