NSW Dulwich Hill NSW - HOW MUCH WOULD YOU PAY?

What would you pay for this?

https://www.realestate.com.au/property-house-nsw-dulwich+hill-138910643

 

it's a deceased estate, so the beneficiaries are likely super keen on the cash. It's had a failed auction and asking prices have been reduced. Mixed the with now growing sentiment of prices fall, especially in Sydney inner west suburbs, anything around $1.1 - 1.15mil would be a steal but I think it's achievable.

Furthermore, the house next door sold for around 2.2mil back in Feb 2022, so definitely some upside there.

of course, significant Renos are needed and with the cost of building materials and labour, one must tread very carefully.

 

Id say 1.3 is honestly a fair price if the market stayed as it is today. ie if the market drops 10%, then you could probably say it would be around 1.2.

There definitely seems to be a lot of upside. Rpdata valuation is $2million for that site (1.67 low - 2.2 high) - but take that with a bag and a half full of salt

 

Looks like a lot of work but given 2 Lincoln sold at $2.2m and it is a good example of a "before"and "after". Not sure you could get close to comparing #2 for its potential. Its a 100% fully renovated 2 level brick terrace house with 3 baths+studio not a ""Original"" single level timber cottage 1bath.

 

https://www.realestate.com.au/sold/property-house-nsw-dulwich+hill-138716719

The above is a duplex and similar sized frontage/block. about 1k away, but same distance from new canterbury rd.

#2 Lincoln offers smaller frontage by 1m and smaller lot size. And though it has a relatively clean interior, it definitely wouldn't be considered "luxury" or "high end" finish by any means. So if that hit 2.2 during peak market, I'm thinking a knock down re-build of the subject property with a much better level of finish would push into the 2.5 + range.

FSR sitting at 0.9 so you could build up to 220m2 over 2 levels.

 

Apparently sold on Monday for $1.22 mil