St. Marys South, NSW

[n_san5]

Hi friends,

I've read several positive articles about investing South of St. Marys.

Just curious to know what is really bad about other areas or what is good about south of st. marys..?

What areas do you guys suggest investing for potential returns in near future.

your feedback will be highly appreciated

Thanking You

 

[skater]

Why not take a drive out West & look at the area. There are some good areas out here & some bad ones. Talk to the local Real Estate Agents, go to some open homes.

 

[Witzl]

good advice from Skater..... nothing beats some good old fashioned legwork!!

When you are out there, have a look at the back streets just east of Mamre road, between Great western hwy and the M4 - you should instantly realise why the area is a good investment.

We are currently trying our darndest to buy our 2nd IP in Sth St Marys, but its hard to find something with our budget on a full doc loan. A couple more months and we should be ok tho.

Some quick points about why I personally am targeting the area:
- undergoing gentrification
- close to main transport line
- good bus services
- close to several amenities
- geographical centre of sydney's greatest growth area
- historically good capital growth
- decent rental yields
- very good rental demand, even in a depressed rental market

But really you should evaluate all these things for yourself, and make your own decision.

 

[n_san5]

Guys -

Thanks a tonne for your suggestions..!!

i'm planning my day out very soon..

Thanking You.

 

[n_san5]

good advice from Skater..... nothing beats some good old fashioned legwork!!

When you are out there, have a look at the back streets just east of Mamre road, between Great western hwy and the M4 - you should instantly realise why the area is a good investment.

We are currently trying our darndest to buy our 2nd IP in Sth St Marys, but its hard to find something with our budget on a full doc loan. A couple more months and we should be ok tho.

Some quick points about why I personally am targeting the area:
- undergoing gentrification
- close to main transport line
- good bus services
- close to several amenities
- geographical centre of sydney's greatest growth area
- historically good capital growth
- decent rental yields
- very good rental demand, even in a depressed rental market

But really you should evaluate all these things for yourself, and make your own decision.

Hi,

Great input..!!

 

[j4mesa]

hi all,


hope things are well with you all.

re-visiting this thread again , how do you guys travel with any of your ip in st marys area ? are they performing well in terms of rental and capital growth ?

appreciate your comments

 

[beachgurl]

I bought 2 in Nov 07 for 230ish each. Worth over 300K now, only having a small makeover. Rental $330 per week and never seem to have trouble finding new tenants.

 

[ozmale42]

I bought 2 in Nov 07 for 230ish each. Worth over 300K now, only having a small makeover. Rental $330 per week and never seem to have trouble finding new tenants.

That sounds like a good investment.... What type of property is it Beachgirl?

 

[beachgurl]

They are both 3 bedroom houses, single garage. Ex department of housing so a bit rough around the edges but in a reasonable street now that a few of the others have been sold.

 

[catlib01]

Townhouse in St Mary's

Hi everyone,

I found a 3 bedroom townhouse in St Mary's and i know the owner is prepared to accept $245000. The real estate agent said it can be rented out for $350 per week. I had a quick check on Domain and it sounds about right. It has 2 bathroom and 1 garage.

Do you think it's a good buy?

Any ideas on the capital growth in the area for past few years?

Thanks heaps!

Catherine

 

[ericproperty]

St. Marys

The area between Greater Western HW and M4, developers are buying large number of residential houses and knocking them down to develop apartments and Townhouses, just wondering how will this affect the local market if I want to buy a house in this area?

 

[ozmale42]

Hi everyone,

I found a 3 bedroom townhouse in St Mary's and i know the owner is prepared to accept $245000. The real estate agent said it can be rented out for $350 per week. I had a quick check on Domain and it sounds about right. It has 2 bathroom and 1 garage.

Do you think it's a good buy?

Any ideas on the capital growth in the area for past few years?

Thanks heaps!

Catherine

That's a 7.4% gross yield so the rent would cover the interest cost. Not sure about CG but my ears have certainly pricked up at this transaction. Well done

 

[ozmale42]

That's a 7.4% gross yield so the rent would cover the interest cost. Not sure about CG but my ears have certainly pricked up at this transaction. Well done

Just looking at 3 br townhouses in that area on re.com and it seems you're on a winner .They seem to range from $269k to around $319k with most around the $280k mark .This one is on for $269k and rent of $300 per week

http://www.realestate.com.au/property-townhouse-nsw-st+marys-106942368


Cheers
Pete

 

[Jacque]

You could always check out areas closer in for similar money eg: Blacktown area http://www.realestate.com.au/property-townhouse-nsw-blacktown-107035771

Similar returns, due to entry price - which you'll find across many of these suburbs out west. From an investment point of view, I'd attempt to buy closer to transport (preferably rail) and established amenities, as your likely pool of tenants is going to be higher as well. Best of luck.

 

[MikeJosef]

We purchased a 3 bed weather board clad fibro home in North St Marys for $250k in March 2010 - renting for $320 - sitting on 900 sqm land.

Although we had a bit of trouble finding tenants at 1st, it all seems to have settled down.

 

[Television]

We purchased a 3 bed weather board clad fibro home in North St Marys for $250k in March 2010 - renting for $320 - sitting on 900 sqm land.

Although we had a bit of trouble finding tenants at 1st, it all seems to have settled down.

Nice work... Exactly the kind of property I'll be hunting for. Here's hoping prices stay flat or drop off even

 

[MikeJosef]

Nice work... Exactly the kind of property I'll be hunting for. Here's hoping prices stay flat or drop off even

Thanks, and when you look at some properties, try to see whats under the carpet as we found lovely untouched wooden floorboards. We just ripped the carpet up, gave them a quick polish and they look great.

Good luck!

 

[ozmale42]

We purchased a 3 bed weather board clad fibro home in North St Marys for $250k in March 2010 - renting for $320 - sitting on 900 sqm land.

Although we had a bit of trouble finding tenants at 1st, it all seems to have settled down.

Good find . especially with the 900 block !...well done

I may have to go out to St Marys and get a feel for the area

 

[MsAli]

How do people find North St Marys? From what it seems it's not as popular as the south. But it's appealing to see houses next to Ropes Crossing...

Looking at a property at the moment for the which the vendor has dropped $10k off. It seems reasonably priced....Asking price is around $250k and I'm thinking around $230k (worse case $235k) but that does seem low as the recent sales suggest a 2 BR villa sold for $235k.

What do people think of a 14 year old 3 BR townhouse in the area? With a bit of bit of a spruce up by painting, putting in new blinds and cleaning the carpet...So it does need a good $5,000 - $6,000 reno. The downside I saw is that the back yard has a busy road right behind it. Not ideal, but can't get it all, can we?

Ideally, I'd like to buy it below market value but don't want to miss out on the deal by not being flexible. Especially as it "seems" once the works are done, it may really be worth $260k or so...(Around Oxley Park there have been recent sales of newer 3 BR properties for $260k)

Thanks.

 

[beachgurl]

Oxley park and north st marys are very different areas and can't really be compared. If you can buy something for a similar price in oxley park I'd definitely buy there instead. In general, the closer the property to the little shopping centre, the less desirable. There are also some very DOH dominated streets that potential tenants may avoid.