3 bedroom House for sale in Gunn (Darwin)

I'm just about to list my 3 bedroom cottage for sale in Gunn (arguably the premier suburb in Palmerston, 20 kms from Darwin). Gunn is a Delfin Lend Lease master planned estate.

House was built in 1999. 3 bedrooms, one bathroom dual entry off lounge area and bedroom, separate toilet. Fully airconditioned. I bought in May 2005. Its on a 312m 2 block.

Currently let for $530/week to reliable tenants (been there 12 months) with fixed lease about to expire. Tenants willing to pay $550/week (5.85% gross yield) on a new lease.

Am asking $490,000.

A photo I have on file (July 2009) is attached (not recent although not much has changed).

A copy of the building plan is also attached.

Link to property research report on Gunn:-

http://www.homepriceguide.com.au/Re...unn&LocationType=Suburb&State=NT&SuburbId=933

Any questions please ask.
 

Attachments

  • 8 Wakelin Close Gunn July 2009.jpg
    8 Wakelin Close Gunn July 2009.jpg
    30.1 KB · Views: 138
  • 8 Wakelin Close Gunn plans.pdf
    554.3 KB · Views: 94
Last edited:
The numbers are just starting to stack up for the property. Unfortunately I've locked in interest rates of 7% (fixed till end of 2014) and have a lot of business expenses to meet.

If you signed the tenants up for 6 months at $550/week (they are keen to stay and have always paid rent on time) and borrowed at around 5% p.a. then the numbers look good. Managing agent I currently use (Michelle Davies at Chilcott Real Estate) has been doing a good job managing the property over the last year.

I've done very little to present the property as well as it could be. It could benefit from a garden makeover and new front door otherwise it is sound.
 
Residex Postcode Explorer Report ($90) predicts 8%p.a. capital growth for the next 5 years for postcode 0832 which includes Bakewell, Bellamack, Gunn, Johnston, Mitchell, Rosebery and Zuccoli.

With rental return of 5.8% combined capital gain and rental return is 13.8% p.a.
 
Am just about to drop asking price to $489,500. Have received a couple of lower offers.
This represents a yield of 5.85% if tenants re-sign at $550/week.

This return is easily acheivable given similar house next door is rented for $580/week.

http://www.realestate.com.au/property-house-nt-gunn-115843119

Now has two new airconditioners installed at a cost of just under $4k and another air-con installed in Sept 2012.
 

Attachments

  • 8 Wakelin Close Gunn February 2014.jpg
    8 Wakelin Close Gunn February 2014.jpg
    28.2 KB · Views: 85
Last edited:
Rent appraisal comes in over 6% p.a.-Gunn, NT

I have just had a call from the managing agent. The property I am selling is on a periodic lease at $530week.

Managing agent's rent appraisal is now $560-$570/week as rents have jumped from end of last year.

I am selling the property (in Gunn, NT) for $489,500

Am starting to generate some good buyer interest at this price level (cheap entry in Gunn-a satellite city 20km from Darwin).

http://www.realestate.com.au/property-house-nt-gunn-115843119

It has 2 new airconditioners (apprx. $4k installed) so I don't expect any maintenance cost for these for some time.

Residex predict 8%p.a. capital growth for next 5 years for Gunn
 
Back
Top