Reply: 1.1.1.1.1.1.1.1
From: Ian Parham
Good Morning All!
Michael & Robert - sorry for delay I didn't spend much time on here last night, so missed your posts.
Essentially this house (in Terry Street Connells Point) was renovated by owners about 4 yrs ago. 3xBr, large 'L' shaped lounge/dining room, revamped open plan kitchen/family room at rear, new tile job in bathroom, second shower in large laundry, largish block...say 700 to 750 sq.m?? Red brick, and although renovated I believe it still needs work to roof tiles, lots of rising damp, yard is a bit shabby. A second storey on top would give some views of the river...$$$$$$
Owners (who don't want to sell by the way ;>)) said 2yrs ago...640k on VG report....a few months ago..580K in their opinion. Me...I reckon it would struggle to get past 520 - 530K, but there are lots of silly people out there borrowing truck loads of low interest (for the time being) money!!
As I mentioned in earlier post, perhaps 350/wk rent as is. So the yield figures would be negligible, hardly worth turning on the calculator for. Potential capital growth next cycle though???
Have a good day!
Cheers Ian