Is this unit worth 490k

Hi guys

This unit was recently listed at 490k and was sold. I saw it and it had an ancient kitchen and dirty carpet etc. And needed Reno. Otherwise it was ok

Would it be worth 450 - 490k ?

 

Forgot to mention the unit:

7/24 Albert Street Hornsby, NSW 2077

 

What are other similar units selling in the area?

Have a look at other sold properties to get an indication.

Though, given the changing market, historical data may not be a good reflection.

 

Similar units that do not require as much renovation are listed / listed about 550-575 k in the area

 

I helped my sister look for an apartment to rent in North Parramatta recently.
She wouldn't even consider them unless they had a north facing balcony.
Drove me up the wall. She rejected some absolutely gorgeous ones I would have taken in a heartbeat.

 

Having lived in units before, sun light is important for us - north facing is always better

 

Will $50k bring this unit up to the same standard sad the other units?

Are they as well located?

North facing?

 

1. Yes

2. Yes (8 mins walk to station, 2 mins to westfield, quiet location)

3. No. Maybe that is why the listing agent was stressing on the cross flow of air in the Unit.

 

It looks like the balcony fall is directed to the building - is that likely to be a drainage issue? Or is it for safety reasons?

 

What is that balcony vall ?

 

Hi guys,

Please comment on the property if it is worth 490k - is this something which can be a good reno flip property - if bought around 460k and reno at 510k - sold at 540k - is that possible ? What do you think based on above info

 

What about stamp duty, legals, holding costs, mortgage fees & selling costs?

 

"Fall" should be the slope of the flooring to direct water to the drain/s.

 

You are not going to make money after transaction, holding and reno costs by flipping this property.