Nambour - What would you pay?

[stuguts]

Noticed this hit the market a few days ago, the numbers look good.

What do you think its worth??

http://www.realestate.com.au/property-house-qld-nambour-119174811

 

[Ace in the Hole]

Well it sold for 320 mid last year.
Has there been much growth in the area since then?
What have surrounding properties been selling for?

 

[Mscholard]

Noticed this hit the market a few days ago, the numbers look good.

What do you think its worth??

http://www.realestate.com.au/property-house-qld-nambour-119174811

Numbers do look good, are you familiar with the area? I grew up on the sunshine coast and Nambour has always been a low socioeconomic area and IMO I think it will always stay like that. The rental yields in the area are usually very good but for CG potential id stay away. All depends on what you are after in a property I guess.

 

[Ace in the Hole]

Is it legal to split that house into 3 separate units?
If so, why not buy a similar sized cheaper property for 100k less and do the same?

 

[stuguts]

Its under contract. Agent reckons owner spent $50k to convert.

 

[Arnoldus]

IMO there's an element of bravery buying anything in regional Qld at the moment.

But then this might be the bottom of the market and those buying right now might well be geniuses (or lucky) in hindsight.