2 bedder in Marrickville: Any ideas?

[Luckyrooster]

I came across this as a potential investment property:

http://www.realestate.com.au/property-house-nsw-marrickville-113450571

I'm no expert on the prices of Marickville. It's tricky to research online, since no price guides are stated. Any idea what this could be worth at Auction? And what type of rent it would get?

Appreciate input from agents/buyers and anybody who resides in the area.

Cheers

 

[esh]

Hi LuckyRooster

Sorry I cant help you much atm,on a quick break.

Rpdata tells me :
Appraisal Price: $512,000 - $626,000 (Big gap)

what do you think its worth? Marrickville is a great place for capital growth


why dont you call the agent and ask for the buyer feedback they are getting and slap another 10-30k on top

 

[roceans11]

From a general investment point of view in the inner west, how important is it to have a parking space allocated for your property?

 

[depreciator]

I reckon off street parking is pretty important in the Inner West. In places like Newtown, it would be really important - street parking is terrible there. Of course, it comes at a premium. I'm not sure what parking adds to the value of the property. I bet that Petersham Road place would be worth an extra $80K or so if it had parking. Luckily the Inner West has good public transport and there is that car scheme GoGet which is great.

 

[Propertunity]

Any idea what this could be worth at Auction? And what type of rent it would get?

The selling agent has it in an advertising price placeholder of $600-750K. So that would be the only price guide you'd get from them.

Without a physical inspection (photos can lie and sometimes it is the photos not put up, that tell the story), I can't be certain. Educated guess - high $600K's to early $700K's maybe?? (It is a busy road with limited street parking).

 

[Propertunity]

From a general investment point of view in the inner west, how important is it to have a parking space allocated for your property?

VERY important for most people.

 

[Roosterman]

You would get around $600 a week rent for that, maybe a bit more.

The lack of parking counts against it, also that is possibly the narrowest street in Marrickville.

 

[Propertunity]

...also that is possibly the narrowest street in Marrickville.

The street itself, is actually not that narrow - but it becomes that way because both sides of the road have cars parked on them.

 

[Innerwest]

Given what I've been seeing in the Innerwest, I'd say high 6s (maybe low 7s depending on the day).

I've been mainly looking around the Camperdown/Newtown/Erky/Enmore suburbs and have been seeing auction sales go up to 100k over the 'price guide'.

For example, this one had a price guide of 590+ & sold at auction 697. It's closer to the city than the one you mention, however it had flats in front and back and a busy-ish road. Needed a fair bit of work too. I spoke to one person who missed out and they said for 740 they could buy a renovated place and was surprised how much it did go for. The innerwest market is bubbly at the moment!

http://www.realestate.com.au/property-house-nsw-newtown-113345279

Parking definitely adds about 70k, however this one in marrickville is near a train station which is a valuable for professionals that work in the city.

 

[Luckyrooster]

Given what I've been seeing in the Innerwest, I'd say high 6s (maybe low 7s depending on the day).

I've been mainly looking around the Camperdown/Newtown/Erky/Enmore suburbs and have been seeing auction sales go up to 100k over the 'price guide'.

For example, this one had a price guide of 590+ & sold at auction 697. It's closer to the city than the one you mention, however it had flats in front and back and a busy-ish road. Needed a fair bit of work too. I spoke to one person who missed out and they said for 740 they could buy a renovated place and was surprised how much it did go for. The innerwest market is bubbly at the moment!

http://www.realestate.com.au/property-house-nsw-newtown-113345279

Parking definitely adds about 70k, however this one in marrickville is near a train station which is a valuable for professionals that work in the city.

Thanks for the pickup on that mate. For 697, it's def not too bad given it's fairly large, has a good sized Attic space (potential bedroom conversion) and plans for rear lane access,which you would def turn into a small carport, given the price increase. Because that's closer to the hotspots of Newtown (King st), the rent on it is probably closer to $700, which isn't too bad at all.

However, you can tell it needed a fair bit of replastering and who know's what else. Stlll, you could do worse.

 

[neK]

Just a word of advice, with all the threads you've made over the last month, can i suggest you just hire a buyers agent.

You keep posting up links to property asking what people think. If the price was right chances are:

1. By the time you get around to it getting sufficient responses, someone would have snapped up the property (the property in Marrickville you posted 7 days ago in a different thread you started)

2. If its just on the market, you could have effectively done all the work and posted up a link, someone else clicks on it, calls the agent does a deal. Meanwhile you're still here mulling over whether its good or not.

There's one thing to ask about the area in general, get suggestions etc, and another to ask a specific property(ies) that's currently on the market.

The only person that knows what you need is you. If you don't know, engage a buyers agent and share with them your information. I do not think its wise to share that level of information with strangers on the internet. Remember that this is a public forum and ANYONE with internet access can see it. You do not need to be a member.

There are several buyers agents on this forum, some of which have replied to your thread.... they have a link to their website in their signature.

 

[Luckyrooster]

Just a word of advice, with all the threads you've made over the last month, can i suggest you just hire a buyers agent.

You keep posting up links to property asking what people think. If the price was right chances are:

1. By the time you get around to it getting sufficient responses, someone would have snapped up the property (the property in Marrickville you posted 7 days ago in a different thread you started)

2. If its just on the market, you could have effectively done all the work and posted up a link, someone else clicks on it, calls the agent does a deal. Meanwhile you're still here mulling over whether its good or not.

There's one thing to ask about the area in general, get suggestions etc, and another to ask a specific property(ies) that's currently on the market.

The only person that knows what you need is you. If you don't know, engage a buyers agent and share with them your information. I do not think its wise to share that level of information with strangers on the internet. Remember that this is a public forum and ANYONE with internet access can see it. You do not need to be a member.

There are several buyers agents on this forum, some of which have replied to your thread.... they have a link to their website in their signature.

Thanks I'm looking into that. I just think it's helpful to generate discussion on these things, and so far this thread provided some great details I had not thought of - so as far as I'm concerned it validates why I asked the question and it allows other people to gain knowledge on a hot area of Sydney.

 

[neK]

Then you would be better off posting listings properties that have been sold in the last few months. That way you see what they actually sell for and the condition they were in as opposed to speculating what one could sell for.

Full picture research beats partial picture research any day