Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Fire? Is it fire damanged? What's it worth? Looks pretty rough...
yes, then the project finished and there was nothing there, so I (my company) moved me away.
North is presumably everything other than North Adelaide.
That chart you have presented is pretty misleading - its only for the 5112 post code and doesn't include adjacent suburbs like Munno Para.
How is that chart misleading when you claim 'North' represents Elizabeth?
I personally think the people on Centrelink and rent assistance put a floor under the rental price and there is upside from the many good paying jobs nearby.
How can you say there are no jobs when you have many of the states largest employers in the area? DSTO, RAAF, Holden, Scholle industries, Exide batteries, Coles DC, BAE Systems, DHL, Lockheed Martin, Detroit MTU, Kimberley Clarke... Shall I continue?
I personally think the people on Centrelink and rent assistance put a floor under the rental price and there is upside from the many good paying jobs nearby.
How can you say there are no jobs when you have many of the states largest employers in the area? DSTO, RAAF, Holden, Scholle industries, Exide batteries, Coles DC, BAE Systems, DHL, Lockheed Martin, Detroit MTU, Kimberley Clarke... Shall I continue?
What is it worth? - Not much in my opinion.
I saw Jim`s post just before leaving work so i put the camera in the car and went to have a look at it.
As i drove into the street leading to this house - my first thoughts were yuk! Several very untidy looking houses. Then when i pulled up in front of the house -this is what i saw -
The burnout marks are possibly from the crapadore in the driveway opposite, and WTF is that power pole all about?
Here are a couple of shots of the house -
The tin sheets on the roof are old and rusty, fascia boards under the guttering do not look very good and the verandah itself probably needs replacing. Fences also are not very good. So just from the front view there is probably 10k required to make it all good.
This property is a good example of why you should always check out the neighbourhood before buying. It is just a run down, *****y area.
Before viewing it i would have considered it would sell for around 125k at auction. After going there i would not pay 100k for it!
Any others want to take a stab at the price it will sell for?
Stangman.
Misleading! What are you on about. We are talking elizabeth area. I believe it to be spot on.
Yes - I did go via Penfold Rd. What a bloody mess! On the way to inspect the property i was quite excited at the possibility of adding a low cost property to the portfolio, but came away deflated and depressed
Stangman.
On the way to inspect the property i was quite excited at the possibility of adding a low cost property to the portfolio, but came away deflated and depressed
Stangman.
Good stuff mate.
Making a trip to this area in the coming months, can't wait to see what is up
Hi LoneWolf, Good idea to come over and check the areas out for yourself.
As part of your research can i suggest you check out realestate.com on a regular basis, but check the rentals as well as houses for sale. I have noticed that semi detached home rents are now pushing over the $200 per week mark and some are as high as $230 -$240. This is approaching the same rent as a single home! Surely people would prefer to live in a single home.
Maybe this will push the rent higher for single homes?
Found a fixer upper in a good part of Elizabeth Downs on realestate.com It is a single home advertised at 159k. Needs paint, floor coverings, etc
http://www.realestate.com.au/property-house-sa-elizabeth+downs-112939015
Block size is 687Square Metres. Could be a good buy for those who can do their own handyman work. Looks ok from the photos. Have not been past the house to check out the street, but if anybody is interested let me know and i will check it out.
As always - do your own due diligence.
Stangman.
As part of your research can i suggest you check out realestate.com on a regular basis, but check the rentals as well as houses for sale. I have noticed that semi detached home rents are now pushing over the $200 per week mark and some are as high as $230 -$240. This is approaching the same rent as a single home! Surely people would prefer to live in a single home.
Maybe this will push the rent higher for single homes?
Found a fixer upper in a good part of Elizabeth Downs on realestate.com It is a single home advertised at 159k. Needs paint, floor coverings, etc
http://www.realestate.com.au/property-house-sa-elizabeth+downs-112939015
Block size is 687Square Metres. Could be a good buy for those who can do their own handyman work. Looks ok from the photos. Have not been past the house to check out the street, but if anybody is interested let me know and i will check it out.
As always - do your own due diligence.
Stangman.
Did anyone here purchase this?
http://www.realestate.com.au/property-residential+land-sa-elizabeth+downs-200428387
This could have been a nice syndicate for us.
http://www.realestate.com.au/property-residential+land-sa-elizabeth+downs-200428387
This could have been a nice syndicate for us.
I was able to make it to a few inspections today:
http://www.realestate.com.au/property-house-sa-elizabeth+downs-112840215
Nice budget reno inside, good kitchen and bathroom. Small yard. Horrible street. Eliz Downs really is the worst of the bunch.
http://www.realestate.com.au/property-house-sa-elizabeth+downs-112822899
Agent recons around $175k. Had a couple of young families looking. Very outdated inside and needs work. All cupboards need to be replaced, flooring filthy and severely needs a Mortein bomb.
http://www.realestate.com.au/property-house-sa-elizabeth+south-112856631
As already talked about. Does need a fair amount of work done and street isn't the nicest. Am considering getting a building inspection and trying to grab at auction if it goes for a bargain price. If it fails at auction, agent recons it will go up at around $135k abouts.
http://www.realestate.com.au/property-house-sa-elizabeth+downs-112840215
Nice budget reno inside, good kitchen and bathroom. Small yard. Horrible street. Eliz Downs really is the worst of the bunch.
http://www.realestate.com.au/property-house-sa-elizabeth+downs-112822899
Agent recons around $175k. Had a couple of young families looking. Very outdated inside and needs work. All cupboards need to be replaced, flooring filthy and severely needs a Mortein bomb.
http://www.realestate.com.au/property-house-sa-elizabeth+south-112856631
As already talked about. Does need a fair amount of work done and street isn't the nicest. Am considering getting a building inspection and trying to grab at auction if it goes for a bargain price. If it fails at auction, agent recons it will go up at around $135k abouts.
Are you heading to the auction Anon?
Thanks Stangman..
As this will be our first interstate investment, any info is good info hearing from a local.
