Priced at just $429 000 this brick and tile master built duplex offers 2 x 2 bedroom villas on a lovely elevated 800 m2 block. If you are looking to invest, this is an ideal situation where the risk is reduced by having income from 2 sources instead of one (in the case of a single dwelling) and it’s a well maintained established block with no work required.
For just $140 per week this could be yours.
Assuming – Paying $429 000 for the property. After paying a 10 % deposit and adding Stamp duty of $15,116 to purchase price. Total to borrow $401,216. An interest rate of 5.5 % payments made weekly and loan term 25 years. Outgoings included are Rates at $ 494.00 per quarter . Insurance of $855.80 per annum. Water Rates of $268.78 per per third. With a rent of $250 each villa per week. These figures have not included anything for depreciation.
Purchase $429 000
10% Deposit $42 900
Stamp Duty on $429,000 = $15,116
Total Purchase price $401,216
Mortgage Payment = $569 per week
Plus Outgoings of $69.96 say $70 per week
All based on above assumptions
= Out of pocket $140 per week from buyer.