$350K in Melb. Coolaroo, Dallas or Lalor

[Camry]

Hi there,

I am been thinking of the above suburbs for a while. I believe I can get a reasonably good 3 bedrooms house for about $350K on a 550 block of land.

My checking seems to reveal that Coolaroo and Dallas will have better capital growth than Lalor, but I am concerned of the quality of the tenant in Dallas and Coolaroo area.

I also read one poster that said Dallas is near the Melbourne Water Reserve and may have smell.

Can someone advise where should I buy, for IP, in terms of capital growth and quality tenant ? Or there are better choices elsewhere below $350K.

Thanks.

 

[pickle pickle]

Out of those 3 areas I would choose Dallas. On the train it's quicker to get to the city than those 3 areas, Dallas is closer to a train station than Coolaroo (happens to be the same station). The only advantage that Lalor has over Dallas is that the train service is a little bit more regular, however the saving on the train to the city gives Dallas the edge.

I don't believe that Dallas is near a Melbourne water treatment plant. As for quality of tenants, it's really pot luck in some ways whether you are.

You may get a place under 350k around Dandenong or Frankston. Dandenong is in the east suburbs, while Frankston is near the bay.

However Dallas is only 20km from the city and I think it has great potential for capital growth.

 

[Camry]

Thank you Pickle Pickle,

Coolaroo in fact has a new station since May (?) this year.

It appear that you are not concern abt the smell from the water treatment plant. May be there is none. Some said the same thing for Laveron and Point Cook, which are also near a water treatment plant.

 

[Shaneelastic]

you wont get a 550 block in lalor for any change out of 500K

 

[Shaneelastic]

something like this http://www.realestate.com.au/property-house-vic-lalor-106712503