Townsville house or units?

Lucky you! Can't believe 'dry' can be used for weather of TSV.
Do you live in TSV? Which suburbs you think is most popular for local there?

 

Townsville is a desert. I live in Brisbane, but am a disability housing provider. We have a heap of stuff finishing in the next few months in Townsville. I like the old established ones close to the strand or close to the major shopping centres. But most people don't seem to mind driving there and so there are some new estates that are popular.

 

The opinions is great, just not sure about the calculation,
The duplex Lollie picked,
the rent is $27000, which is around $520 per week.
The rate should be around $6000, and the insurance can be $2000-$4000? And the water usage might can't be split but already in the $6000 rates.
So the net could be more than 17000/350000=5% which is not bad?

Assume buy a 300k single house, rented $350, rate $3000, insurance $1000-$20000,
net (350*52-5000)/300k=4.4% lower than 5% duplex?

It might harder to manage, guess agent in TSV should be experienced for this kinda of Property, potential buyer- could be more investors than families.
potential tenants-could be more singles, couple without kids, retired than families.

 

It might because TSV is quite small town to drive around?
Or it's free easy parking around the stand area?
Do you have investment property there and any suggestion?

 

We have SDA in Mt Louisa, Rasmussen, Oonoonaba, South Townsville, Bushland Beach and next year just behind The Strand.

There are no comparable properties in TSV for us to judge.

 

well you havnt put in property management fees which are minimum 10%
i always use 50 weeks rent in my calculations to allow for vacancy and the re letting fees

also its probable that the maintenance on a duplex will be higher and that your vacancy will be higher

so even if the return on rent is .5% better it doesnt go close to compensating the investor for the increased risk

 

True, how much TSV rental agent charged? 8%? plus one week rent for new tenant?
Agree that the management fees will go higher for duplex.
Not sure vacancy will be higher cause duplex is similar with Villa/TH, rent cheaper than single house, potential tenants and buyer will be different with single house, depends on the population structure there.