VIC Melbourne IP 400k

Discussion in 'Where to Buy' started by Investaa, 25th Mar, 2017.

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  1. jaybean

    jaybean Well-Known Member

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    jaybean, 23rd Apr, 2017
    #21
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  2. Pash81

    Pash81 Well-Known Member

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    Is this a better investment as compared to some new4 bedroom houses on a bigger block in places like Wollert?
     
    Pash81, 24th Apr, 2017
    #22
  3. The Y-man

    The Y-man Moderator Staff Member

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    You won't get 4 BR in Wollert for that price.

    Equivalent would be 3br towny:
    1 Banjo Close, Wollert, Vic 3750 - Property Details

    The Y-man
     
    The Y-man, 24th Apr, 2017
    #23
  4. Pash81

    Pash81 Well-Known Member

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    Sorry i didn't mean the same price.

    So would you prefer the old unit in essendon or a new house in Wollert if the price is similar?

    Just asking as someone (one of my friend's friend) in Melbourne suggested me to buy 97 Allumba Way, Wollert, Vic 3750 - View Sold History & Research Property Values - realestate.com.au

    But i have no idea about Melbourne as i live in Brisbane. The agent said that this one will sell around $525k
     
    Pash81, 24th Apr, 2017
    #24
  5. The Y-man

    The Y-man Moderator Staff Member

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    Personally I prefer Mernda to Wollert.
    I might be wrong, and things may have changed - but last time I looked Wollert was rather devoid of any public transport options. Mernda on the other hand is getting a new train station.
    As a comparison, I guess Wollert might be like Redbank Plains - an outer sub with loads of farms around it.

    For that money, I'd personally be looking at Mill Park or Epping (old part).

    The Y-man
     
    The Y-man, 24th Apr, 2017
    #25
  6. Pash81

    Pash81 Well-Known Member

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    5 Henry Court Epping Vic 3076 - House for Sale #125157210 - realestate.com.au

    this was the other one i was suggested as this is with the same agent. Near to Epping train station. Agent indicated will sell for around $540k
     
    Pash81, 24th Apr, 2017
    #26
  7. The Y-man

    The Y-man Moderator Staff Member

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    uh dude/dudette... there's a train running behind it.... and from memory the rails aren't below ground level in that stretch .....don't touch.

    The Y-man
     
    The Y-man, 24th Apr, 2017
    #27
  8. Pash81

    Pash81 Well-Known Member

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    Thanks
    Thanks Man..i didn't even notice that.
     
    Pash81, 24th Apr, 2017
    #28
  9. willister

    willister Well-Known Member

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    Noble Park is going into the mid to high 700ks now for a decent block and bedroom house. IMHO a bit too far out to the CBD for my liking and I think it suffers the same issues that Heidelberg West has. Don't get me wrong, its gentrifying and quite quite quickly too.
     
    willister, 24th Apr, 2017
    #29
  10. Jaggannath

    Jaggannath Well-Known Member

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    What do you reckon that Essendon property would rent for Y-Man?
     
    Jaggannath, 25th Apr, 2017
    #30
  11. The Y-man

    The Y-man Moderator Staff Member

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    $290-300 pw unreno-ed (other than painted)
    2/6 Lincoln Road Essendon Vic 3040 - Flat for Rent #413612387 - realestate.com.au
    1/11 Stanley Street Essendon Vic 3040 - Unit for Rent #420817058 - realestate.com.au

    Fascinating - current owner let it out for 295 pw in 2011
    But more importantly paid 331k for it in 2010.
    They aren't going to be making much money out of this sale even if they get the full $379k being asked.... like allowing for stamp duty and sales costs, I'd say they'll barely break even ... let alone holding costs.... anomally here.... we're talking yet another prop effectively for sale for the purchase price of 7 years ago...

    The Y-man
     
    Last edited: 25th Apr, 2017
    The Y-man, 25th Apr, 2017
    #31
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  12. Tattler

    Tattler Well-Known Member

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    Just how bad are buying properties next to railway lines? How loud are the suburban metro trains in Melbourne? I always wondered whether it is worth buying those as they are close to train stations ....
     
    Tattler, 25th Apr, 2017
    #32
  13. Anthony Brew

    Anthony Brew Well-Known Member

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    Buying Next to Railway
     
    Anthony Brew, 25th Apr, 2017
    #33
  14. The Y-man

    The Y-man Moderator Staff Member

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    While the south morang line is not too bad (there's no level crossings past epping staiotn, so they don't have to use horns), I can't remember from my last ride on a train there if the rails were continuous weld ~ I suspect they are as the epping s.morang extension is one of the latest to be built in Melb. So compared to places like say Camberwell or Box Hill where a train seems to lose half its wheel in the expansion gap, it's not too bad

    Some might joke it is extremely quiet because all the trains get cancelled ha ha - but let's not go there

    The other exception is the vline freight line - eg anything going through Packenham for example - these have the giant freight trains with dual diesel locos - and super extra loud horns for country crossings - and in order not to clog the line, they conveniently run in the middle of the night!

    The Y-man
     
    The Y-man, 25th Apr, 2017
    #34
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