Want Somewhere To Put Granny

[keg75]

Or your teenagers, that are looking for a bit of freedom.

Well I am selling a 3x1 home, with a 1 x1 granny flat attached, that would suit your needs well.

The original house was built in 1988 and the granny flat was built in 2001, both buildings are relatively new compared to most in Wanneroo. The granny flat is about the same size as the original house.

As I have mentioned the property would suit a family with aging parents or teenagers. The property could also suit an investor seeking to cater for students of Edith Cowan University or the Foreign Language School at Joondalup. The property would possibly suit someone looking to do home day-care.

Either way the property represents a great opportunity to purchase a Unique Property.

I have attached a link to domain.com.au (this link will become inactive once the property is sold or I stop paying for the listing) which shows a few photos of the property and gives some details about the property, pricing etc.

Domain site doesn't mention that there is new paint throughout, new carpets to the majority of the house/s. the front garden has been rejuvenated by recent plantings and watering. The backyard has had some landscaping done as the front yard. This area requires some additional maintenance; basically it needs a good watering.

If you are interested in looking at the property or have more questions regarding the opportunity then please contact me through PM, or the details on domain.com.au.

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2005413127

Cheers Keg75

 

[Peter Parker]

The original house was built in 1988 and the granny flat was built in 2001, both buildings are relatively new compared to most in Wanneroo.

So the depreciation should be good, making it potentially worthwhile (as an IP) if the other things stacked up.

I suspect that public transport is limited compared to suburbs further west. Is the house walking distance to local shops? Also if the granny flat was to be let out seperately, does it have its own parking that is accessible from the street (or a rear lane)?

What sort of rental income would the house and granny flat get if rented seperately?

Based on the asking price of around $420k how does this yield compare with neighbouring houses?

Also how does $420k compare with vacant blocks for sale in the Wanneroo area?

I understand that Wanneroo is an outer suburb 30km from the CBD and has had a reputation for being a light industrial sandbelt. Is it still possible to buy a house nearer to the CBD, beach and train for under $420k in other suburbs (eg Craigie or Greenwood)?

If the answer is yes, are there any planned projects (eg proposed suburb rejuvenation) that make Wanneroo worth investing in and preferable to other suburbs listed?

Peter

 

[keg75]

So the depreciation should be good, making it potentially worthwhile (as an IP) if the other things stacked up.

I guess that depreciation on the granny would be good being 4 yrs old. the original house as it is only built in 88 will still be eligible and would possibly have some depreciation - don't forget houses back then cost a bit less than today.

I suspect that public transport is limited compared to suburbs further west. Is the house walking distance to local shops? Also if the granny flat was to be let out seperately, does it have its own parking that is accessible from the street (or a rear lane)?

There is a bus which travels past the front door every hour (i think) which goes to whitfords train station, which is 5-8mins away. A short work to Wanneroo Road and you have a bus link that goes straight to Perth every 20mins. And there is a bus link that is every 15-20 mins between whitfords and joondalup train station. so I'd say transport is very good. You could be getting off the train in perth in 25mins after leaving your front door. I'd have to check a timetable to confirm these exactly though.

There is no rear lane, access is to the side of the original house. If you see the domian site you can see the van in the drive - this is the only access tot he granny flat. If you worked in Joondalup (effectively a satellite city) as my mother does, you can be at work in about 10mins and for about $1.00 in bus fare ~ she loves it now, as she used to work in Perth, which cost her almost $8 and about an hour each day in travel so the 20mins and $2 is great.

What sort of rental income would the house and granny flat get if rented seperately?

I'd say that you could get 220-280 per "house" so around 440-560 for the property.i guess your true range is 220 - 560+, assuming you lease the whole property to one person or you split them. If you were smart and do what the people in joondalup do and rent out each room you could increase the rent, there's potential for 5 rooms or more as such it could be very lucrative, with the foreign school and uni students being in abundance. Obviously if you were interested a property manager would need to give you an idea depending on the scenario.

Based on the asking price of around $420k how does this yield compare with neighbouring houses?

Neighbouring houses are 3x1 (heaps) and 4x2 (a couple), as it has a granny flat the yield can be compared, but it would be tricky to evaluate. As I said above it depends how smart you are with the property, rent as a house, rent as two houses, rent as a communal home for students, family daycare.....

Also how does $420k compare with vacant blocks for sale in the Wanneroo area?

I'm not sure how you compare a newer house with vacant land. but land is anywhere from 165K. A new area to the south of Wanneroo, the new blocks released jumped 60K to around 205K for 640 sqm.

If you compare this house to other houses it is a little higher but that is because it is effectively two homes on the one block. When people generally think of a granny flat, they think of a stuffy litttle converted garage or a small house squeezed into the back yard. This granny flat is HUGE compared to most infact it has the capability to have 2nd bedroom added if you lose the study. Note: Every agent or prospective buyer has commented on the size and presentation.

I understand that Wanneroo is an outer suburb 30km from the CBD and has had a reputation for being a light industrial sandbelt. Is it still possible to buy a house nearer to the CBD, beach and train for under $420k in other suburbs (eg Craigie or Greenwood)?

I don't know about being a light industrial sand belt. If you look at the aerial photos on maps.google.com you can see that there is a lot of residential development in the area, to the north and south. Buying a house closer to the the city is very costly - depending on what you buy you can look at a starting price of around 300K+ but that would be a dog box of a house.
to get anything on a block 720sqm now is near on impossible I think block sizes now are around 640 max. to build anything as large as this would cost a small fortune. you could buy close to the city but it would be comprarble if not more expensive. If you could buy a cheaper established house, you'd be hard pressed to find anything comparable in size etc for less I would expect.

If the answer is yes, are there any planned projects (eg proposed suburb rejuvenation) that make Wanneroo worth investing in and preferable to other suburbs listed?

Wanneroo is currently undergoing a complete revamp. With the splitting of wannero shire into city of wanneroo and city of joondalup. the wanneroo council had to find a new premises. Plans were put in place to demolish a vast majority of existing shops. (about 5mins walk up the road) and build a new council office and new school church, townhouses, and a lot of other things which have improved the area somehwat. I believe the coucnile is toying with thew idea of rezoniung a lot of the area. This provide developers with a fantastic opportunity as block in the area are 720+.

As for other areas of perth there's lots going on, to the south and north of wanneroo is a bit of devleopment. but as I said previously blocks sizes are smaller, and you paying almost as much if not more, albeit the houses are more modern.


This property as I a great opportunity, in a good location and if your smart you can make it into a gold mine.

Cheers keg75

p.s. sorry about grammer it's bit shocking - trying to type quickly and i'm at work... (i'll fix it up when i get home.)