Weekend Yield Watch: Gross yield of 4.8% in Richmond

13/7 Davison Street, Richmond, VIC, 3121

The tenants of this one-bedroom Richmond unit with a car space are paying $270 per week and although the lease is expired, are keen to stay on. RUN Property agent Carol Hayes marketed the property before auction with price hopes of $280,000 plus. It sold at auction on Saturday, November 26 for for $290,000, which equates to a gross rental yield of 4.8%, higher than the indicative gross rental yield for Richmond units of 4%, 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. The property is close to Victoria Street restaurants, Victoria Gardens and public transport. Washington Brown estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $7,000. 

For more information about yields and prices in Richmond, see the RP Data suburb page.

For more investment prospects that went auction this weekend, see pages 2 and 3.

14 Chagall Court, Scoresby, VIC, 3179

This three-bedroom, two-bedroom house with two car spaces is rented until July 2012 at $355 per week. Michael Sergides from First National Real Estate is marketing the property with price hopes in "the low $400,000s". If it sells for $400,000 that would secure an investor a gross rental yield of 4.6%, higher than the indicative gross rental yield for Scoresby houses of 3.8%, 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. The property is in a quiet court and is close to EastLink. Washington Brown estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000. The property was passed in at auciton on Saturday, November 26 at 11am. 

For more about yields and prices in Scoresby, see the RP Data suburb page.

28 Adelaide Avenue, Umina Beach, NSW, 2257

"Rose Cottage" is a three-bedroom property close to the sea, and its tenants pay $330 per week. The lease is expired but the tenants are keen to stay on.  McGrath agent Craig Harrison is marketing the property with price hopes of $350,000 plus, and if it sold before its scheduled Saturday auction for $375,000.  This equates to a gross renal yield of 4.6%. 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. The 1920s property includes a pool and is a 10-minute walk to the beach. Washington Brown estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $8,000.