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.
Property of the Week #17 – 19th Oct 2015
Address: 209 Macdonnell Road, Clontarf, QLD 4019
Area: Redcliffe Peninsula – Moreton Bay Region
Property Type: 3 Bedroom, 1 Bathroom, 2 Car House
Land Size: 911sqm
Estimated Market Value: $384,000 (sign up below to get the full valuation report)
Listed Price: $379,000
Rental Return: $390 to $410 per week (according to agent) (5.3% yield)
Affordability: $28/wk to own (calculated for an investor with an income of $50k/yr).
The strategy I would recommend for this property is Renovation and/or Future Development – this property is definitely one for the sub-dividers and duplex-developers among us.
Renovation or development potential
This property will not work if your strategy is focused on immediate positive cash flow.
However, with the right type of development strategy this little Ugly Duckling could be transformed into a positive cash flow super-star and produce multiple income streams.
High capital growth potential
The Moreton Bay region (covering Brisbane’s urban sprawl to the north) is the third largest local government area in Australia and one of the fastest growing areas in the country with the population set to exceed 500,000 by 2031.
The region offers affordable housing as well as good rail and roads links to Brisbane to the south, and northwards to the Sunshine Coast and beyond.
This property has been listed for $379,000. The estimated market value of the property is $384,000 (sign up below to get the full valuation report) which potentially puts you $5,000 in front from day 1.
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 Redcliffe Peninsula as a growth area
- Links to the resources we’ve used for our research