Rental appeal for house with no backyard?

[Aardvark]

Hi all,

I'm a long time lurker who's finally taking the plunge in property investing.

As such, I'm considering the IP purchase of 2 houses (1 title) in the South West Brisbane coridor. There are many positives including a good potential yield, however the houses are both crammed onto a 611sq property and I'm wondering what sort of tennnents you would get for houses with effectively no backyard?
One house is 3 br, the other 4br. Both only 3 years old and nicely presented. Normally, I would imagine these as family type housing but with no backyards or large common area I'm wondering who they are going to appeal to.
My main concern is only being able to rent to 3/4 young men all co-renting together (partying etc). Perhaps this would be a good rental situation?
Any thoughts on this would be appreciated.

 

[TMNT]

youve simply got a unit now

 

[spludgey]

youve simply got a unit now

With no common walls (as I read his post anyway). I'd much prefer to live in that house than a unit.

 

[Aardvark]

Just to clarify, they are actually a pair of duplexes with a common wall.

 

[Ideo]

I'd go for one of them.

Professional couple, no kids, don't have time to look after a garden etc.

Like having a spare bedroom for guests, and work from home sometimes so a study would be useful.

That takes care of the 3 bedroom place.

In the unit block I used to live in there were a number of professionals working long hours that had a share house. Doctor, business change manager and something in finance. Good money but they were all saving. Something like the 4 bed place could appeal to them.

 

[mattnz]

Does the duplex meet the requirements to be put onto 2 titles and if it could be, would this significantly increase the value?

Also beware that financing may not be that easy given they are on the same title. The valuation could come in much lower than you expect. Maybe check with some of the finance experts here to find out their thoughts on this.

 

[Scott No Mates]

There are plenty of houses in Brisbane inner city on 1/2 perch blocks. 300 m2 is nothing too difficult.

 

[alplant]

Our very first tenants were a group of four young men. They were probably the best tenants we ever had. They all had jobs, were never late with the rent, and never did any damage either. Pity I can't say the same about some families we have had.

 

[Sez]

Are there parks and schools nearby? I've rented properties like this to professionals sometimes with young children who are in care during the week and go out to parks and things with Mum and Dad in good weather over the weekend. Never had a problem .

 

[ozmale42]

Someone who is time poor would love that set up. Better alternative to a unit

Even myself I find backyards a lot of work. So as long as there's enough room to fit a BBQ I'm happy

You'd be surprised .

 

[greentomato]

Sounds like an ideal rental property for many people. There's lots of tenants that would love not to have to worry about garden maintenance.