Friday Form Guide: Rental yields of up to 6.1% in Tullamarine
22/226 Melrose Drive, Tullamarine, VIC, 3043
This one-bedroom, one-bathroom unit in the outer-Melbourne suburb of Tullamarine could suit investors, as Ray White Tullamarine agent Danny Coffey has done a rental assessment of the property and estimates that it will rent for between $25o and $270 per week. He has price hopes of $230,000 plus for the unit, which would be a gross rental yield of 6.1% if it sells for $230,000, well above the indicative gross rental yield for Tullamarine of 4.4% for units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. This property goes to auction on Saturday, September 3 at 11am.
For more information about prices and gross rental yields in Tullamarine, see the RP Data suburb page.
For more investment prospects, see pages 2 and 3.
2/49 Delmar Parade, Dee Why, NSW, 2099
This two-bedroom, two-bathroom unit has been withdrawn from auction but is still for sale. It is currently tenanted at $595 per week, and Australian Property Choice agent Abdul Moussalli is marketing it with price hopes of $620,000 plus. If it sells for $620,000 that would be a gross rental yield of 5%, right at the indicative gross rental yield for Dee Why, according to RP Data. The strata fee for this apartment is $1,031 per quarter, the water is approximately $140 per quarter nd council fees are $225 per quarter.
For more about prices and indicative yields in Dee Why, see the RP Data suburb page.
4/7 Keys Street, Dandenong, VIC, 3175
This recently renovated two-bedroom property has undercover parking and a new kitchen. Stockdale & Leggo Dandenong agent Neil Butler is marketing the property with price hopes of $230,000 plus and has done a rental assessment that concluded it would pull in $250 per week from a tenant. If it sells for $230,000 this would be a gross rental yield of 5.7%, which would be significantly above the indicative gross rental yield of 4.7% for units, according to RP Data.
For more information about gross indicative yield and prices in Dandenong, see the RP Data suburb page.