9% Gross Western Sydney

Do you have an idea what is wrong with it Nathan? Apart from being in St Mary's....

Is the price inflated due to the return? If the Median house price for St Mary's is $270,000, then 359k is not under market value as the agent suggests.

Regards JO
 
That is a very high rental return for a house with a Granny Flat in St Mary's. My gut feeling is that the owner may be doing something creative as far as tenanting is concerned. Maybe rent by the room? I can't see how else you would get a rental return that high.
 
Oldlistings has a rental of $420pw back in 2007.

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That, I can believe. Maybe $300 for the house & $120 for the flat. Fast forward, without looking at the house you could maybe get $350 & $180? This would bring the return to a possible $530.

My gut says that they have 5 x bedrooms leased at around $100pw plus the flat @ $140.
 
Do granny flats require council approval in St Mary's?

Does the granny flat have approval...maybe prospective purchasers solicitor/conveyancer are seeing this as an issue.
 
yeah i remember finding this house when we were looking to move, it's actually more or less down the road from us.

Not sure there's anything wrong with it, maybe needs a lot of work..?
 
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