depends on the condition and position of the duplexes.
New, airconditioned, 4 bedroom, 2 bath 2 garages are a long way from
13 years old, no aircon, 3 bedroom, 1 bath, 1 garage
so the pm tells me anyway. May i ask who did the appraisal for you?
caboolture??
- Thread starter tamtam
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depends on the condition and position of the duplexes.
New, airconditioned, 4 bedroom, 2 bath 2 garages are a long way from
13 years old, no aircon, 3 bedroom, 1 bath, 1 garage
so the pm tells me anyway. May i ask who did the appraisal for you?
Yes very true. Still seems a bit low, but don't know that much about Morayfield.
Agent is Raywhite and this is the letter -
RayWhite said:
I have a 4/2/2 renting for $285 in Narangba......
This is perhaps a bit low I think and is due for increase in the middle of the year. I note this house has no a/c and is not brand new like all the other houses that are currently renting well above $300 in the areas such as here and Morayfield......
This is perhaps a bit low I think and is due for increase in the middle of the year. I note this house has no a/c and is not brand new like all the other houses that are currently renting well above $300 in the areas such as here and Morayfield......
Does sound too low. I get $320 for a 3/2/0 and though it is smallish (nor new or ac'd) it is a nice colonial style with a good feel/outlook and not pokey at all.
edit: in Narangba. Expect less in morayfield or caboolture
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Hi Frank
Depends on the age and location of the duplex. I have my 6 month old duplex's in Rothwell rented at 310 ea and after doing a bit of RE.com surfing I expect the duplex's that are in Morayfield and 19years old should rent for 230ea.
Both are 3br
Depends on the age and location of the duplex. I have my 6 month old duplex's in Rothwell rented at 310 ea and after doing a bit of RE.com surfing I expect the duplex's that are in Morayfield and 19years old should rent for 230ea.
Both are 3br
Is anyone thinking of buying around here??
What do you guys think....
Is anyone interested in this area at the moment? Or do you think it has plenty of room to grow....
I think potentially other areas of Brisbane has grown so much the ripple effect could be about to hit? (Although it has also seen good growth,.,.)
What do you guys think....
Is anyone interested in this area at the moment? Or do you think it has plenty of room to grow....
I think potentially other areas of Brisbane has grown so much the ripple effect could be about to hit? (Although it has also seen good growth,.,.)
Ritchie77
Just bought, went unconditional yesterday. 9a and 9b Sherwood st Morayfield. Still on RE.com if you want to look. Listed price 429k paid 395k. Have had the PM go through and we both agree the rent should be close to 230pw ea. Which is better than a 5% yield. Based on everything that is being said and written about the area im expecting 10% CG in the next 12 mths.
Just bought, went unconditional yesterday. 9a and 9b Sherwood st Morayfield. Still on RE.com if you want to look. Listed price 429k paid 395k. Have had the PM go through and we both agree the rent should be close to 230pw ea. Which is better than a 5% yield. Based on everything that is being said and written about the area im expecting 10% CG in the next 12 mths.
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i had 30% increase in valuation last year for morayfield.
Yeah, I noticed one ad said "Residex predicts 13% growth this year for Morayfield".
Found it, it looks good..... well done Wayne. Still a fair bit of land at the back as well, ...
Martin
Martins correct. Might be enough room for a possible third unit attached to the back of the premises.
Nice purchase.
Cya
Aaron
At the moment the Caboolture City Council wont let me build a 3rd. However who knows what will happen down the track. There is about 400m2 out the back.
As for the price I sent out about 30 emails or so covering Nth Bris, Sth of Bris, Ipswich, Elizabeth SA and Melton Vic. All properties I considered to listed close to the mark. On each I asked the agent to call me if the seller would concider $_____.00. The price I quoted was between 40 and 50k below asking. I only received I seller interested in a quick sale.
I am very happy with the buy.
As for the price I sent out about 30 emails or so covering Nth Bris, Sth of Bris, Ipswich, Elizabeth SA and Melton Vic. All properties I considered to listed close to the mark. On each I asked the agent to call me if the seller would concider $_____.00. The price I quoted was between 40 and 50k below asking. I only received I seller interested in a quick sale.
I am very happy with the buy.
Hi ritchie77
They were build in 1988 so still a bit of deprication.
They were build in 1988 so still a bit of deprication.
In regards to Caboolture our building company has build many new homes in the central lakes estate. These new homes (4 bed, 2 toilets and double garage) turn key rent out for about $300 - $330 at the moment. There has been plenty of growth in the estate but at the moment there are more investors then owner occupiers - therefore you'll need to be careful. I know some agents are talking up rents $340 + but I have a new home and I lease it out for $310 per week. Overall I've build about 45 homes in that estate and they are all rented. Cheers LK
Yeh, there does seem to be a lot of investors in the area....
It makes you wonder how many renters there are? And will the demand still keep going with all these new investors buying brand new houses from building companies and house/land pkg etc....
I think it will be ok but you never know? In Sydney it was the West that was hit hardest so if it was Brisbane would it be Outer West like Ipswhich? Or up North around Caboolture? Or even down south like Logan/Beenleigh etc??
It makes you wonder how many renters there are? And will the demand still keep going with all these new investors buying brand new houses from building companies and house/land pkg etc....
I think it will be ok but you never know? In Sydney it was the West that was hit hardest so if it was Brisbane would it be Outer West like Ipswhich? Or up North around Caboolture? Or even down south like Logan/Beenleigh etc??
