VIC Thoughts on property in Reservoir

Discussion in 'Property Analysis' started by DLe, 3rd Dec, 2019.

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  1. DLe

    DLe New Member

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    DLe, 3rd Dec, 2019
    #1
  2. lightbringer

    lightbringer Active Member

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    wow I'm surprised that there is no comment on this one.
    There are not a lot of comparable sales for the property. I understand that it was sold for $971,000 but I would speculate that it was because of a home buyer jacking up the price.

    The location is quite favourable, right next to Ruthven station, land size if massive for the suburb as well. I'd say 900k would have been what I bid on, since I'd like to spend somewhat 10k more to renovate the place.
     
    lightbringer, 21st Jan, 2020
    #2
  3. Bunbury

    Bunbury Well-Known Member

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    Check out 6 Broadhurst Avenue, Reservoir to get an idea of the value of number 19. Works out to be only $1,092 per sqm.

    Maybe not.
     
    Bunbury, 21st Jan, 2020
    #3
  4. lightbringer

    lightbringer Active Member

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    can you help me in determining that $1,092/sqm value.
    I couldn't figure it out.
     
    lightbringer, 21st Jan, 2020
    #4
  5. Bunbury

    Bunbury Well-Known Member

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    Sale price of $971,000 divided by 889 square metres = $1,092.23847 per square metre.
     
    Bunbury, 21st Jan, 2020
    #5
  6. lightbringer

    lightbringer Active Member

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    ohh I thought the figure was for 6 Broadhurst Avenue, Reservoir. That one was sub-divided so I couldn't get an indication of how much it is worth to compare with the 19.
     
    lightbringer, 21st Jan, 2020
    #6
  7. Bunbury

    Bunbury Well-Known Member

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    Well number 6 is 1,040 square metres and has 5 townhouses on it.
     
    Bunbury, 21st Jan, 2020
    #7
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