Blackett home sells for Sydney's cheapest weekend auction

The cheapest weekend sale was in Blackett in Sydney’s west when $410,000 was paid for a redundant NSW Housing Department residence.

The three-bedroom Franklin Cres home sold through LJ Hooker Mount Druitt agent Deniz Sagin to an investor renovator. The home sits on a 645 sqm block with granny flat potential.

Mr Sagin advised post-renovation it could attract $380 a week rental, reflecting a 4.8 per cent rental yield before costs.

The suburb’s median price is $450,000, according to realestate.com.au, still well below its $545,000 boomtime 2017 median.

The next cheapest was $462,000 for a three-bedroom Tregear home, just 3km away.

The third cheapest sale was at Bondi Beach, snapped up pre-auction at $535,000. The one bedroom flat, last sold in 2008 at $235,000, was recently a $400-a-week rental, thereby reflecting a 3.9 per cent rental yield.

This article was first published in the Daily Telegraph.