This property was purchased off market for $470,000, $40,000 under the desktop valuation making 8% on the way into the deal. Rental appraisal at $470 making this a 5.2% yield.
Property is located in a quiet owner occupied appealing street in a quality pocket. The property has just had a cosmetic renovation and is sitting on a large 600m2 block.
We were able to negotiate a $2,000 discount using the Pest and Building report putting money back in our clients pocket to then add more value back to the property.
South east Queensland purchase.