This property was secured off market for $470,000. The vendor’s price expectation off market was $485,000 and we were able to negotiate this down to the purchase price of $470,000.
This property is a 4 bedroom, 1 bathroom, 1 garage property situated on a 550m2 block and built in 1994. Comparable properties selling for around $510,000, making approximately $40,000 equity in day 1. Weekly rental appraisal at $480 per week making this a 5.31% gross rental yield.