Durack Heights Property (Darwin)

Discussion in 'Caveat Emptor (Buyer Beware)' started by Longrass, 23rd Jan, 2014.

  1. Longrass

    Longrass Member

    Joined:
    10th Jun, 2013
    Messages:
    61
    Location:
    Darwin, NT
    We are due to start on our next development project in the new suburb of Durack Heights, as such, I am looking to achieve a presale to keep the ball rolling.

    I have plans done up for a 3 bedroom, 2 bathroom, DLUG on 350sqm. As it is a master planned community, I spent quite a while putting together a design that complied with the DG's as well as creating a functional outdoor living area.

    Personally I think the house itself will win at least 2 awards from Master Builders.

    In any event, it will be a stunning house and combined with the current market conditions (as well as looking forwards) I think a shrewd investment.

    The current price is $599,000 (plus associated buying costs). My estimate for the rent would be $650 as a bare minimum, representing a 5.6% return, plus associated deductions and depreciation.

    If the property does not sell in the next 2 weeks, I will be increasing the price to $629,000 and listing it with an agent.

    Any feedback, comments or queries?
     

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  2. Longrass

    Longrass Member

    Joined:
    10th Jun, 2013
    Messages:
    61
    Location:
    Darwin, NT
    Please delete, property is now sold.
     
  3. Longrass

    Longrass Member

    Joined:
    10th Jun, 2013
    Messages:
    61
    Location:
    Darwin, NT
    Please delete, property is now sold. $619K open market.
     
  4. vaughan

    vaughan Member

    Joined:
    26th May, 2010
    Messages:
    1,741
    Location:
    Willoughby NSW
    Well done, the apartment sold too. :)
     
  5. Longrass

    Longrass Member

    Joined:
    10th Jun, 2013
    Messages:
    61
    Location:
    Darwin, NT
    Yes, mind you they settled months ago, completely forgot about the add.