Investor form guide wrap: Yields of up to 5.1% in Oakleigh

Investor form guide wrap: Yields of up to 5.1% in Oakleigh
Cassidy KnowltonDecember 8, 2020
12/1554 Dandenong Road, Oakleigh, Vic 3166


This one-bedroom unit is currently leased until April 2012 at $1,260 per month. It includes a modern kitchen, a generous well-styled bathroom, reverse cycle air-conditioning, dishwasher, European laundry, secure parking, storage cage and a private courtyard.

The property was passed in at its weekend auction for $275,000. There was one bid of $265,000. Ray White agent Gareth Apswoude is now marketing the property with price hopes of $295,000, which would secure an investor a gross rental yield of 5.1%, higher than the indicative gross rental yield of 4.7% for Oakleigh 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.

Washington Brown estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.

The median unit price for Oakleigh fell by 10.4% in the past year, according to RP Data.

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

For more about investment prospects that went to auction over the weekend, see pages 2 and 3.

 


 

61 Bull Street, Cooks Hill, NSW, 2300

This three-bedroom house is currently tenanted at $370 per week, though the lease is expired. It sold at auction for $460,000 on Saturday, March 3, and if the new owner continues to rent it out, it would return a gross rental yield of 4.2%, about at the indicative gross rental yield of 4.2% for Cooks Hill houses, 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. Council rates are $1,439 per year and water rates are $660 per year plus usage. The property is close to restaurants and parks and includes a large courtyard.. Before auction Walkom agent Kate Rundle marketed the property with price hopes of $450,000 plus. 

Washington Brown estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $8,000.

The median price for Cooks Hill houses fell 2.9% in the past year, according to RP Data.

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


22 Lubrano Street, Brighton East, VIC, 3187


This 1920s California bungalow on 666 square metres is currently leased until June 2012 at $481 per week. The three-bedroom house includes high ceilings and polished timber floorboards and is within walking distance of the Hawthorn Road tram and Gardenvale Primary School.

It was passed in at its weekend auction on $925,000 and now has a price of $969,000, which would secure a gross rental yield of 2.6%, below the indicative gross rental yield of 3.3% for Brighton East houses, 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. There was one bidder. Before auction Century 21 agent Michael Egan was marketing the propertywith price hopes of $920,000 plus.

The median price for Brighton East houses fell by 9.3% in the past year, according to RP Data.

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

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