NSW Would you buy on Falcon street, Crows Nest

Discussion in 'Where to Buy' started by OllyOliver, 26th Mar, 2021.

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  1. OllyOliver

    OllyOliver Well-Known Member

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    For those familiar with this side of town, you'd know that Falcon street is a pretty busy 4 lane street. From the looks of things, it will also be an exit point for the western harbour tunnel once its built. Looking at the street sold house history of seems a bit hit and miss in terms of sales, but rental yield appears reasonable for an inner Sydney region.

    From an investor point of view would you bite?
    https://m.realestate.com.au/property-house-nsw-crows+nest-135835278

    Looks like there's a R4 one on the other side of crows nest:
    https://m.realestate.com.au/property-house-nsw-crows+nest-135846122
     
    OllyOliver, 26th Mar, 2021
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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    I know people who have recently rebuilt on that block in Falcon St - no complaints about noise. Rear lane access helps too. What's the go with no interior or front elevation photos? Possibly a second storey addition, rejig the layout to have the main bedroom away from the road.

    There was a fire a few doors up (emptyish warehouses) - developer is seeking to lodge a DA for units but there are some issues with council wanting a larger amalgamation of blocks (opportunity?)
     
    Scott No Mates, 26th Mar, 2021
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  3. Trainee

    Trainee Well-Known Member

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    The great location (restaurants, etc) compensates for the noise tho.
     
    Trainee, 26th Mar, 2021
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  4. Simon Hampel

    Simon Hampel Founder Staff Member

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    There will always be demand for these properties due to the location - close to Crows Nest shopping and restaurant precinct and new metro station coming soon - close to North Sydney and St Leonards commercial centres - and quite close to the CBD too.

    I don't know whether it makes sense for investment purposes, by which I mean - I don't have enough knowledge of investing in the area to comment.

    Those row cottages will likely only experience noise from the front rooms - it's not as if there are any side windows for street noise to come in.
     
    Simon Hampel, 26th Mar, 2021
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  5. OllyOliver

    OllyOliver Well-Known Member

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    Mm I was thinking just that. Granted it's a semi so you would need next door to want to sell too. Just looking at some of the recent sales along falcon street in the past 2 years and definitely in the down turn early to mid last year, they stalled.

    Eg: Property Report for 70 Falcon Street, Crows Nest NSW 2065

    Remember seeing it back in 2019 first off market, then on market. Took close to a year to sell. But I guess it's a bit of an odd shaped one with the parking connected by a small strip.
     
    OllyOliver, 26th Mar, 2021
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  6. OllyOliver

    OllyOliver Well-Known Member

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    How'd they find the area in general? Any so called better pockets of Falcon street?
     
    OllyOliver, 26th Mar, 2021
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  7. OllyOliver

    OllyOliver Well-Known Member

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    True, but wondering whether its worth paying more for something more a street or 2 back off the main streets. At the end of the day not planning to live there, as main road is generally a no go for us, but price tends to be driven by owner occupier demand so if its compromised in that regards, capital growth may be affected?
     
    OllyOliver, 26th Mar, 2021
    #7