Durack Heights Property (Darwin)

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?