VIC Frankston North

Discussion in 'Where to Buy' started by Yinka Dare, 30th Apr, 2017.

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  1. Dave3214

    Dave3214 Well-Known Member

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    Well, it's about as close to the bay as that property is in Frankston North, that's for sure. And probably not all that much closer to Melbourne than Corio is anyway.

    Based on that lot in Tallis St that sold for $213K for a 700m2 block, land prices are still a lot cheaper here. But if they hit $600K....i'll be a happy man!

    Actually, those large double blocks along Matthews Rd do come close to touching that dollar figure, i think one sold for the mid $500's a few months ago.
     
    Dave3214, 4th Jul, 2017
    #21
  2. Natedog

    Natedog Well-Known Member

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    Wow! I mean.....wow!
     
    Natedog, 5th Jul, 2017
    #22
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  3. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Either a: the guy who bought it is mad and crazy or b: just knows something we Dont...I heard he bought with his SMSF.

    It only pushes everything else up....
     
    sauber, 6th Jul, 2017
    #23
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  4. strongy1986

    strongy1986 Well-Known Member

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    The fact he bought it through his SMSF confirms he is crazy
    The yield will be rubbish and he will have to cover the shortfall in expenses by making additional super contributions
    He could easy be 20k out of pocket per year on this purchase
    So to cover it he would have to earn about 200k
     
    strongy1986, 6th Jul, 2017
    #24
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  5. Otie

    Otie Well-Known Member

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    The thing is once there is one big sale then all the other sellers about to put theirs on the market expect nothing less so it pushes all of the prices up. I see value in Frankston north if you can buy under 450 if u have the cash. Agree the yields are absolute crap and I don't think you'd be attracting desirable tenants either.
     
    Otie, 6th Jul, 2017
    #25
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  6. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Look at frankston central. People nearly asking 700k now. Its crazy!!!!
     
    sauber, 7th Jul, 2017
    #26
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  7. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Agreed otie
     
    sauber, 7th Jul, 2017
    #27
  8. is_don_is_good

    is_don_is_good Well-Known Member

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    7 Wirilda Crescent Frankston North Vic 3200 - House for Sale #125867518 - realestate.com.au

    This sold for $570k in Franga North before auction.
     
    is_don_is_good, 30th Jul, 2017
    #28
  9. Otie

    Otie Well-Known Member

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    Otie, 31st Jul, 2017
    #29
  10. is_don_is_good

    is_don_is_good Well-Known Member

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    I didn't see a price listed for it previously.
     
    is_don_is_good, 2nd Aug, 2017
    #30
  11. frank22

    frank22 Well-Known Member

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    Its May 2020 and right in the middle of storm of COVID 19. Stock is low in Frankston North . What I noticed was ,number of properties for rent around 7 or 8 for 3 bedroom homes . I agree ,yield is crap $310 to $330 but, is it a hot spot ? Property for 3BV is $440 to $480 (not Fibro ) long way off positive gearing . I am looking at IP .your thoughts please
     
    frank22, 23rd May, 2020
    #31
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