House for sale in Casterton, Vic $130,000

[Paul Thurston]

Sorry,

Not realise classifieds not allowed.

Apologies to all

 

[Les]

G'day Paul,

As you'd know from reading the rules, we are here to learn (not just doing a Classad). So, for those of us who know NOTHING of western Victoria, what more can you give us here?

Some thoughts:-
Demographics - population, etc
More detail about your property - e.g. is it rural? (sounds like it, with "rolling hills"
What is land size?
What makes your place special?
What are similar properties yields (more than yours? Why? less than yours? Why.....)

Perhaps more about Casterton itself - what are its features? What keeps its population "ticking over"?

Paint the picture, my man - we'd all like to see it, sounds nice so far ......

Regards,

Les
Caveat Emptor Moderator

 

[Gus]

Hi Paul,
Perhaps a photo may help, I worked there in 64/65 was a nice quiet town of approx 2000. Went through there last year still the same.

Regards Gus.

 

[Peter Parker]

Guys,

A 3 Bedroom, Weatherclad House for sale. Aksing Price $130,000 ono.

Currently leased @ $140.00 P/W with excellent long term tenants.

I have similar questions to Sim.

Sounds like a lovely house, but is it a lovely investment?

At only 5.6% rtn it will most certainly be negatively geared and very negative cashflow (especially if it's pre-85 which is likely).

Thus it will only make investment sense to buy if high capital growth is expected.

In a town of that size, will banks lend 80%?

What are the long-term population trends, the state of the local rental market and is there any outstanding project that will make Casterton Victoria's boom town of the 21st century?

Also does the block have subdivision potential, what is council's attitude to this and what price do vacant blocks in town go for?

If I can readily get 5% in a capital city with good growth prospects, nearly 7% in a regional coastal city on the move, or 9-10% in a mining town, why would 5.6% in Casterton be attractive?

Regards, Peter