7/19-21 McFarlane Road, Mooroopna VIC 3629
Sold for $97,000
9.3% Gross Rent Return - Outstanding Unit - Property ID: 753258
Got any loose change? I have a bargain waiting for an astute investor. I have a willing and eager seller and an excellent tenant who would like to continue renting this unit. If you buy this unit it will be positively geared from day one.
Here are the figures:
Current rent $180 per week /$9,360 per annum
Less 2014/15 Council Rates /$901.30 per annum
Less Owners Corp fees $150 per annum
Less Landlord Insurance (optional) $235 per annum
Less rental management fees @ 7.7% $720.72 per annum
Less interest on investment loan $4,992 per annum
Amount remaining after deductions $2,360.95 per annum
Yes, if you buy this unit for $100,000 and you borrow the full amount you will still be left with $2,360.95 per annum after all your expenses.
Other stuff you might like to know, the unit is neat and tidy, it has 1 bedroom, 1 lounge room, 1 bathroom and 1 carport. The last unit sold in the block for $92,500. The lease ends on 30/4/2015 and the tenant would like to continue renting this unit after the lease expires. The current rent of $180p.w. has been the same for the past 2 years. Owner selling to move overseas.
So the only question remaining is why haven't you called me yet?
Interest calculated at 5% per annum on an interest only investment loan over 30 years, source Broker House.