Friday Form Guide: Yields of 7.1% in Bundoora
1131 Plenty Road, Bundoora, VIC, 3083
This four-year-old contemporary townhouse is currently leased to excellent tenants at $555 per week. It was sold by Ray White Bundoora agent Joshua Allison at auction on Saturday, July 30, for $402,500. It had price hopes of $390,000 before auction. It will net its new owner yields of 7.1%, far above the indicative rental yield for Bundoora houses of 3.7%, according to RP Data. The three-bedroom, three-bathroom house is well situated to appeal to tenants, as it is between La Trobe University and RMIT and close to the 86 tram and Bundoora's shopping district.
For more information about indicative yields and average prices in Bundoora, visit the RP Data suburb page.
For other investment possibilities going to auction this weekend, see pages 2 and 3.
52/1 Maddison Street, Redfern, NSW, 2016
This light-filled three-bedroom apartment in Redfern is close to shops, transport and cafes and could be appealing to tenants. The building includes a pool, gym, sauna and rooftop terrace, and the 115-square-metre apartment has a large balcony. It is being marketed by Kho and Lee Property agents Sami Yildiz and Patricia Kho with price hopes of $640,000 plus. The property has the potential to rent for $700 a week, which would represent a yield of 5.7% at the asking price. This is well above the indicative gross yield of 4.9% in Redfern, according to RP Data. The property went to auctino on Saturday, July 30 but was passed in. Its price expectation remains $640,000.
For more about indicative gross yields and average prices in Redfern, see the RP Data page.
71 Newton Road, Newton, SA, 5074
This three-bedroom property needs some work, but after renovations it could be a good investment property, as it is close to major shopping strips, transport and schools. Indicative gross rental yield is 4% in the suburb, and after an upgrade 71 Newton Road could be an attractive prospect for tenants. It was brought to auction by Elders Real Estate agent Bill Gent on July 30 but was passed in. Its price expectations remain $350,000 plus.
For more about indicative rents and prices in Newton, see the RP Data suburb page.