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Agree with tc. If that price is all inclusive, turnkey, ready to sell or rent, then you would not expect to spend less in Ivanhoe or you may be under-capitalising. Indeed, pending level of finish and inclusions, you may be getting a good deal as has been mentioned by tcocaro. If you were...

Sammy-K, I have sent you a PM.

Thanks for sharing Sammy-K If those numbers are accurate.....are you having trouble with servicibility holding the site now as is at that return (or potential return as you state the current reno'd property SHOULD rent for around 350 p/wk)? Why not hold it if you can. You've got four years...

Sammy-K, is your Dandenong site approved with plans and permits or merely at planning stage without development approval? How far from town centre/train?