Friday Form Guide: Yields of up to 4.8% in Cremorne

20/21 Sutherland Street, Cremorne, NSW, 2090

In The Links building in Cremorne, this two-bedroom unit is currently leased until November 2012 at $500 per week. Listing agent Fran Turner of Croll Real Estate says the tenants have been in place for 12 years and are playing significantly below market rent. She says a rental analysis of the property indicates it could be rented out for between $650 and $680 per week. It features views over Willoughby Bay and the surrounding district, laundry and 103 square metres of living space. 

Turner is marketing the property with price hopes of $730,000 plus.  If it sells for $730,000, its current rent would secure an investor a gross rental yield of 3.6%, below the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. A rental of $680 per week would equate to a gross rental yield of 4.8%. 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. Levies are $1,340 per quarter, council rates are $187 per quarter and water rates are $142 per quarter.

The median unit price for Cremorne rose by 5.6% in the past year, according to RP Data.

The property will be open for inspection on Saturday, February 25 at 11.30am and will go to auction on Saturday, March 10 at 12.15pm.

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

For another investment prospect open for inspection this weekend, see page 2.

 

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4 Fitzroy Court, Endeavour Hills, VIC, 3802

This three-bedroom house is currently tenanted at $270 per week, and the lease has expired. Ray White agent Daniel Pepperell says a new lease could be signed for the house at between $300 and $320 per week. All three bedrooms include built-in wardrobes, and it is close to Chalcot Lodge Primary School, the M1 Freeway and Endeavour Hills Shopping Centre.

Pepperell is marketing the property with price hopes "in the low to mid $300,000s". If it sells for $320,000, its current rental would secure an investor a gross rental yield of 4.4%, above the indicative gross rental yield for Endeavour Hills houses of 4.2%, according to RP Data. If it were rented at $320 per week, that would equate to a gross rental yield of 5.2%. 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 median price for Endeavour Hills increased 3.8% in the past year, according to RP Data.

The property is open for inspection on Saturday, February 25 at noon and will go to auction on Saturday, March 17 at 1.30pm.

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