Friday form guide: Yields of up to 5.2% in Noble Park
9/1 Somers Street, Noble Park, VIC, 3174
Within walking distance of Noble Park train station, this one-bedroom Noble Park apartment is currently leased to a long-term tenant of 10 years, whose rent has recently been increased to $150 per week, which listing agent Chris Drieberg 0f Stockdale & Leggo says is market rent for the area.
Drieberg is marketing the property with price hopes of $150,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield for Noble Park units of 4.8%, 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.
Washington Brown estimates the first-year tax depreciation deduction to be $2,000 and over five years to be $5,000.
The median unit price in Noble Park
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Saturday, July 7 at 11am.
For more information about prices and yields in Noble Park, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
292 Ocean Grove, Laurieton, NSW, 2443
The tenants of this three-bedroom Laurieton property are paying $1,300 per month in rent, and the 4,496-square-metre block is close to natural features such as the beach, river and lake.
LJ Hooker agent Martin Newell is marketing the property with price hopes of $300,000 plus, and if it sells for $300,000 that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield of 4.3% for Laurieton 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.
The median house price in Noble Park increased 1.2% in the past year, according to RP Data.
Washington Brown estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Thursday, July 5 at 6.30pm.
For more about prices and yields in Laurieton, see the RP Data suburb page.