Durack Off Market Investment Property Purchase
Durack Off Market Investment Property Purchase added to my Brisbane Buyers Agent Portfolio for a client seeking an investment property within 15 kilometres of the Brisbane CDB that had to be cash-flow positive with a return over 4.5%. His timing was perfect as the client was providing details of his requirements, a local agent was informing me of a potential property coming onto the market in the very near future.
The property is located in the suburb of Durack, about 13 kilometres south of the Brisbane CBD. The property itself is located on a Cul-De-Sac which is very appealing to both tenants and when the time is right, buyers.
The property itself was my standard perfect Brisbane investment property formula, 4 bedrooms 2 bathrooms double lockup garage on land over 400m2. This property also featured dual living areas and plumbed in water tanks.
The property was purchased for $515,000 with a rental assessment of between $460 to $480 per week giving it the lowest return of 4.6%.
If financed at 100% of the property amount at 3%, which is a high rate in today’s current financial market, then the property would cost $297 per week to service. This leaves a weekly cash surplus of $162 per week or $8424 per year gross.