QLD These two houses in Carseldine

11 Denver Rd, Carseldine QLD 4034 | Domain
36 Whitehorse St, Carseldine QLD 4034 | Domain

What would be the price differential (100m2 extra land, nicer reno on the Denver one)? my guess 100k+..

The rent would be lower obviously, maybe as much as 100pw

Questions:

Which one would you buy? If second, renovate and only then rent?

Assuming I am not keen on starting a reno, would you accept a higher rent in return for no value add?

Finally, is Carseldine a place you'd invest in? Seems to me it's mostly participating in the overall CG.

 

Not sure about the price difference but if it were $100k I’d def get the second one and do up the bathrooms and kitchen with the savings. I think the second one is a nicer house - better layout, nicer facade. It obviously has very dated bathrooms and kitchen, albeit still very useable and rentable. FYI - having a pool at an IP will eat into your yield, especially if something goes wrong and that looks like an old pool...

I don’t know the suburb so can’t comment if one is a better location than the other.

 

Carseldine is full of quality (but dated) large homes and has a good station. Heaps of works for the new development on the old uni site underway. Beams Rd blocks up pretty badly, good shopping complexes in the suburb. High demand for family owner occs. Large blocks for now. Haven't see kdr yet due to the larger homes typically built in the suburb, but it'll come nice breezes on-top the higher spots.

 

Having been hunting with my cousin over the last 9 months in the northern middle ring but not really looking closely at Carseldine, I would say Stafford through to Aspley and Zillmere have been doing very well, so ripple effect being next suburb out from those might bode well. I think I have heard reports Bridgeman Downs is also doing well. So Carseldine is in close proximity to suburbs that are doing well.

If I had a choice between similar priced and sized homes, I would prefer Carseldine over Bridgeman Downs, but that is possibly based on experiences from a scarily long time ago - I lived in the area about 25 years ago: it had a vibe of solid suburban area back then. It seemed to have the feel of more going on that Bridgeman Downs, and it didn't have the perception of social issues that came with Zillmere and the higher amount of social housing in that area, even though Zillmere is closer to city.So back when I was a uni student who even then was dreaming of owning, I would have valued Carseldine higher than either of those two neighbouring suburbs.

Carseldine is a large suburb. I prefer the side to the East of Gympie Road (the side these houses are located in), as it seems to have better transport options.

Denver St has some advantages - the Northern facing backyard is often a prized aspect. Slightly bigger. And backing on what looks like a very nice little park gives bonus green space which sets it above the standard block. So if I was looking based on land value alone that would be more desirable and higher value.

A little far from train station for a lot of Brisbanites to be considered an 'easy' walk, but still doable as a walk. And looks like well serviced by bus services that are a little closer. So I think overall it is pretty decent in terms of public transport.

Will be interesting to see what the future for the old Carseldine QUT campus looks like and impacts. May increase supply, but residential component likely to be higher density, so may not be direct competition for family home on large block in the same area, and perhaps the facilities that come along with it will provide more lifestyle amenities that boost the appeal of living in the area.

Recent comparable sale over $900k, but I think this recent sale the reno looked slightly nicer, but didn't have position backing onto park facing North.

46 Denver Road, Carseldine | Property History & Address Research | Domain

 

FYI - check the flood maps for the first property, the park placement behind it is odd, perhaps it’s a flood zone...

 

Looks okay....?

 

massive thanks for your replies guys, honestly this is a great forum for opening one's eyes to the many 'details' of what to look for in a property, and the market in general

 

The street will be a river when there’s heavy rain. The orange shape is the overland path flow. It’s right in front of the property. Might not affect the property but may make it not accessible during heavy rain.

 

OK I did notice that shape but thought it refers to a flow during some infrequent flood type of event, not just heavy rain.
E.g. once in a few years or less, say for a couple of days it becomes a river.
Sounds too optimistic ?

 

if it becomes inaccessible 1+ times a year during heavy rain (which I realise Brisbane sees regularly) then .. it becomes a factor

 

We can get some pretty severe rain events once in a while, Gympie road is regularly cut - the main arterial... I wouldn't be too concerned from a practical point of view but it should affect land value somewhat. Unfortunately most buyers have zero clue what overland flow is and buy in it anyway. The QUT campus site is all townhouses from the advertising I've seen.

 

It’s hard to know without knowing the area. The overland flow paths are the drainage for stormwater when the normal stormwater system is overwhelmed. Depends on the area it could be impacted several times a year. The good news is that it doesn’t last long. Maybe half an hour after the rain stops? Depends on the rain event. And it’s unlikely to affect the property itself. If I really liked a property that wouldn’t stop me buying it. Just need to understand that when there is a burst of very heavy rain you might not be able to get your car in or out. Or get a 4WD

 

I'll chime in here. I prefer the 2nd property because the first one will be opposite many many townhouses. As others have said, the second house looks so much nicer than No1 and as an IP, a pool can be an issue. On the other hand, a family renting these homes will probably consider a pool very desirable and be willing to pay for the benefit. The dark house is the same era as my home, built late 1980s. Best to ask a local agent (independent of these sales) in the suburb what types of homes their typical tenants are looking for.

 

Amazing, thanks everyone for your extremely helpful replies - so many things to watch out for in the hunt for IPs!