QLD Springwood Qld - super close to chatswood school ..

Discussion in 'Where to Buy' started by jazzsidana, 3rd Nov, 2018.

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  1. jazzsidana

    jazzsidana Well-Known Member

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    Keen to hear everyones opinion/thoughts?

    Property located more or less opposite to Chatswood School, Springwood qld..

    Friend of mine is super keen to buy...

    Block size 650sqm odd (corner block). 3bed, 1bath and single garage house ..

    It's off-market opportunity. Purchase price approx $475k.

    Expected rental $420p.w...

    Thoughts please on suburb/price/land size bla bla ..

    Thanks in advance!!...
     
    jazzsidana, 3rd Nov, 2018
    #1
  2. icic

    icic Well-Known Member

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    icic, 4th Nov, 2018
    #2
    Tom Rivera likes this.
  3. jazzsidana

    jazzsidana Well-Known Member

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    jazzsidana, 4th Nov, 2018
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  4. David Shih

    David Shih Mortgage Broker Business Member

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    Hey Jazz, I guess the question here to ask is why is your friend so keen on this property? What's so special about this house, or is it just the "off market opportunity"?

    As a comparison one of my client just bought in Springwood as well. It's a 3/1/1 neat & tidy house sitting on 1050sqm close to Springwood Shopping Mall. Paid low $400K and currently renting at $475 so decent yield with good land component and options moving forward.

    Cheers,
    David
     
    David Shih, 5th Nov, 2018
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  5. jazzsidana

    jazzsidana Well-Known Member

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    Which year was it purchased David?

    In terms of property..
    1) The suburb of-course.
    2) It's opposite to the school (easier to rent)
    3) Corner block (can help long run depending upon council regulations)
    4) Low maintenance brick
    5) Not bad block size (650 sqm)..

     
    jazzsidana, 5th Nov, 2018
    #5
  6. David Shih

    David Shih Mortgage Broker Business Member

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    This year, just settled in October.

    OK. How about value add potentials?

    Cheers,
    David
     
    David Shih, 5th Nov, 2018
    #6
  7. jazzsidana

    jazzsidana Well-Known Member

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    Cosmetic stuff roughly $15k. . (flooring, carpet, paint & some handyman work)
    Actual purchase price $450k

    Total $465k. Sorry I accidentally wrote $475k before ..
     
    jazzsidana, 6th Nov, 2018
    #7
  8. Tom Rivera

    Tom Rivera Property Manager Business Member

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    That's a good yield for Springwood!
     
    Tom Rivera, 11th Nov, 2018
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  9. Rich2011

    Rich2011 Well-Known Member

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    That is indeed... I'm going to guess the property has a pool and pool maintenance might be included?! $475 for 3/1/1 in Springwood is very good going.
     
    Rich2011, 12th Nov, 2018
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