Hi all,
been using the search function, but thought i'd register and get stuck in
We're looking at an IP in St Kilda east, it's a 4/3/2 on Sycamore Ave.
Seems to be a 2007 build, not 100% sure, and may have gone for $700k at that time.
Quoting 770-840, which for 8 years, is not a great return i would think? (relative to how other areas have gone... ie imagine Malvern East 8 years ago)
However i'm getting wildly different rental estimates; bank spits out $650, agent around $700-$750 but appears a 4/2/2 thouse in the same street has been rented at $875 2-3 years ago (albeit, was brand new a couples years ago, but that's big rent on the same street for the same style of property)
With potential rent in the low $800's and potential buy price in the 7's, it would seem like a decent deal but growth since 2007 does not seem good at all and St Kilda East in general when checking 3-5 year figures seems to have under-performed (by a long shot)
Which seems a little odd considering it's close to the city and quite a lot of public transport options? (and lifestyle, carlisle, chapel etc)
Maybe it's just townhouses are stuck too much in between houses and apartments?
http://www.realestate.com.au/property-house-vic-st+kilda+east-119605111
We've been looking either side of melb, trying to find a bit of balance between yield and CG, i would have thought an inner suburb would have done well...
Anyone familiar with the area? sycamore/elm/oak/grosvenor? is it just one of "those spots" that people stay away from?
appreciate any help/insight (auction this sun)
Thanks!
been using the search function, but thought i'd register and get stuck in
We're looking at an IP in St Kilda east, it's a 4/3/2 on Sycamore Ave.
Seems to be a 2007 build, not 100% sure, and may have gone for $700k at that time.
Quoting 770-840, which for 8 years, is not a great return i would think? (relative to how other areas have gone... ie imagine Malvern East 8 years ago)
However i'm getting wildly different rental estimates; bank spits out $650, agent around $700-$750 but appears a 4/2/2 thouse in the same street has been rented at $875 2-3 years ago (albeit, was brand new a couples years ago, but that's big rent on the same street for the same style of property)
With potential rent in the low $800's and potential buy price in the 7's, it would seem like a decent deal but growth since 2007 does not seem good at all and St Kilda East in general when checking 3-5 year figures seems to have under-performed (by a long shot)
Which seems a little odd considering it's close to the city and quite a lot of public transport options? (and lifestyle, carlisle, chapel etc)
Maybe it's just townhouses are stuck too much in between houses and apartments?
http://www.realestate.com.au/property-house-vic-st+kilda+east-119605111
We've been looking either side of melb, trying to find a bit of balance between yield and CG, i would have thought an inner suburb would have done well...
Anyone familiar with the area? sycamore/elm/oak/grosvenor? is it just one of "those spots" that people stay away from?
appreciate any help/insight (auction this sun)
Thanks!