Ask any prudent investor and they'll tell you the first thing to consider is resale value. To preserve your value you must ensure you buy in a good location.
Check !! Mervyn Street; so close to the Rec Centre, Aquatic Centre, Youth Park, Train Station, Northam Primary School, Spud Shed and main street shopping in the town centre beyond.
A prudent investor will also consider the age of property to minimise frequency of maintenance call-outs. Tradies can charge around $110/hr which can quickly erode the weekly rental income if own one of those old 1950s asbestos or early 1900s red brick or weatherboard dwellings and tradies are making regular call-outs to effect repairs.
Check, Check !! 4B Mervyn Street; a modern brick and Colorbond dwelling constructed in 2011 with minimal maintenance years of life ahead.
Every investor calculates the ROI (rate of return on capital). The higher the rate the better.
Check Again !! 4B Mervyn's rental of $360pcm equates to a gross return on $340,000 capital of 5.5%.
Gardening is not every tenants' cup-of-tea especially considering our hot climate and the cost of water, soil wetter, fertiliser, mulch, pesticides, replacing lost plants and lawn. Few tenants' budgets will stretch that far. And people are so time-poor these days. Few tenants want to spend their precious Saturdays and Sundays slaving over their Landlord's gigantic quarter acre block watering, fertilising, mowing, weeding, pruning. Unless the investor is re-developing, a big block is the last thing wanted.
4B Mervyn Street is on a 351sqm block nicely fenced and paved, easily maintained.
This property comprises 3 bedrooms, 2 bathrooms, 2 living areas, gas hot water heating and stove hot plates, electric oven, ceiling fans, split system rev cyc air conditioner, auto reticulation, security grills, double lockup garage.
The tenancy is a short fixed term expiring 28 August so if you're an owner-occupier rather than investor, vacant possession could be timed to align with the settlement.
It's waiting for you buy it. Interested ? Ask Steve Hill and Lara Turnbull for more information and an inspection.
Note that the images on this web page are not current (taken from our Rental Dept's image library at the commencement of a former tenancy) so prospective buyers must make an inspection to verify appearance.
