Is it too expensive for Frankston?
- Thread starter want2buy
- Start date
http://www.realestate.com.au/reales...rt+(frankston)+pty+ltd/xhsfra/page7/104033945
is this the prop you purchased..?
Well.. Frankston has multi million $ prop right down to the $230k ones, and it is almost 3 times the size of an average suburb, so it is too subjective to say that a prop worth $345k is too expensive for the area.
It is however one of the best pockets of Frankston (outside bayside area) and is referred to as the golden triangle.
What sort of rent are you expecting..?
is this the prop you purchased..?
Well.. Frankston has multi million $ prop right down to the $230k ones, and it is almost 3 times the size of an average suburb, so it is too subjective to say that a prop worth $345k is too expensive for the area.
It is however one of the best pockets of Frankston (outside bayside area) and is referred to as the golden triangle.
What sort of rent are you expecting..?
Thanks for the replay.
I didn't buy that one. A guy from Ireland bought that one. Mine is very close to that one.
Looking for $220~$230 P.W. What do u recon?
I think you paid a lot for it, but only time will tell if you paid too much. Next door was leasing for 250 a week and down the road 230. A guy up the road was asking 300 but it stayed empty for a while and i dont know if he got that much. I bought a property very close to there for 106K but that was in 2001.
You might find that there is potential to build a small 2 storey unit on the rear of that property, you might have to remove part of the house though. There is currently an application to build three units down the road on the same sized block. I think it is one of the best areas of frankston for long term growth (apart from ones close to the water) and who knows, the area may be redeveloped into something else oneday. It is a much nicer area than the houses around beach street, particularly less feral residents. And most of all I dont think you will lose. Dont stress.
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=5431865
http://64.233.167.104/search?q=cach...+dell+road+frankston&hl=en&ct=clnk&cd=1&gl=au
You might find that there is potential to build a small 2 storey unit on the rear of that property, you might have to remove part of the house though. There is currently an application to build three units down the road on the same sized block. I think it is one of the best areas of frankston for long term growth (apart from ones close to the water) and who knows, the area may be redeveloped into something else oneday. It is a much nicer area than the houses around beach street, particularly less feral residents. And most of all I dont think you will lose. Dont stress.
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=5431865
http://64.233.167.104/search?q=cach...+dell+road+frankston&hl=en&ct=clnk&cd=1&gl=au
With 3.5% Gross return and net yield of what around 2.5% i really dont see rationale behind this investment until of course if it has something which suggests higher then average CG like ocean fronting, subdividable block, re-zoning etc....
Hey my un-met friends,
I recently signed an unconditional offer for a 3 Bed BV corner property in frankston for 345K. My friends all said i am pissed off and it's bit too rich for the vendor. Just wondering how much is it really worth?
You have bought in a very exclusive little pocket of Frankston. Whilst the rental return is not necessarily all that great, the CG in this area will be huge.
I have lived in the Frankston area for some time and have purchased in total 12 properties for myself and friends. I believe Frankston is going to take off in a big way and surprise even the investors in the area.
Where you have bought is considered to be the upmarket part of Central Frankston. It is accessable to everything and when developement starts, you can bet your bottom dollar it will be one of the top areas in Frankston to be.
Hold onto your hat, don't get disheartened. You have done well.
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Golden triangle?
What is the golden triangle that is referred to by formites and REAs'? Why does this area have such great potential?
Curious?
Thanks in advance
Purple Patch
What is the golden triangle that is referred to by formites and REAs'? Why does this area have such great potential?
Curious?
Thanks in advance
Purple Patch
What is the golden triangle that is referred to by formites and REAs'? Why does this area have such great potential?
Curious?
Thanks in advance
Purple Patch
There are several parts to Frankston. As in any major city, homes that are located within walking distance to the city often are or will become very sought after and as a result very expensive.
Frankston South is an upmarket place of Frankston and is well sought after due to its proximity to the beach, City of Frankston, University and if you buy right you can get into the Frankston High School Zone
Frankston Central incorporates homes that fit the criteria of being within walking distance to the City of Frankston, beach, University and transport
If you look on the map of frankston, the Birdwood Street area, which looks like a triangle and is also in the Frankston Central area and thus is often referred to as the Golden Triangle.
The Birdwood Street area or Golden Triangle, looks and is, more upmarket than the Beach Street part of Frankston Central with less undesirables.
It's a lovely area.
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Golden triangle
So it is the section around the cemetery there am i right?
So what makes this area so desirable (Golden Triangle) and why is it the most sought after area in frank apart from south franga?
theres a 2br 1 bath going for 270-290k honestly you would have to bulldoze it and build a new unit or even 2, cause its the old.
??
So it is the section around the cemetery there am i right?
So what makes this area so desirable (Golden Triangle) and why is it the most sought after area in frank apart from south franga?
theres a 2br 1 bath going for 270-290k honestly you would have to bulldoze it and build a new unit or even 2, cause its the old.
??
You can never pay too much for a property, only too early.
The deals done isnt it? No use worrying about it now.
The deals done isnt it? No use worrying about it now.
As long as you have paid close to fair value for the type of property you have bought then over time it should be ok. (Give or take $5000) It may be worthwhile checking what other similar properties have sold for recently.
Is it possible to get out of the contract now?
Regards Jason.
