Friday form guide: Yields of up to 6.8% in Grafton

Friday form guide: Yields of up to 6.8% in Grafton
Cassidy KnowltonDecember 8, 2020

49 Mary Street, Grafton, NSW 2460

A recent renovation has brought this three-bedroom property new carpets, an upgraded kitchen, new paint and updated fixtures. The current tenants have been in residence for several years and are paying $260 a week on a lease that expires in October. Listing agent Angus McKimm of McKimm's Real Estate says the rent is "maybe a tad conservative", but it would not likely fetch much more. 

McKimm is marketing the property with price hopes of $200,000 plus, and if it sells for $200,000 it would secure an investor a gross rental yield of 6.8%, well above at the median gross rental yield for Grafton houses of 5.7%, 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 $4,000 and over five years to be $10,000.

The median house price in Grafton fell 4% in the past year but rose 20% in the past five years, according to RP Data.

The property will be open for inspection Saturday, September 8 at 11am and will go to auction Saturday, October 6 at 11am.

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

For another investment prospect going to auction this weekend, see page 2.

 


 

1/467 Boronia Road, Wantirna South, VIC, 3152

Within walking distance of shops and transport, this three-bedroom house is tenanted at $1,369 per month until December 2012, and the tenant is keen to renew the lease. The brick-veneer house includes polished floorboards and air-conditioning. 

Ray White listing agent Sherryn McRobert is marketing the property with price hopes of $320,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.1% at its current rent, well above the gross rental yield for Wantirna South houses of 3.9%, 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 $6,000 and over five years to be $13,000.

The median house price in Wantirna South fell 3.6% in the past year but rose 39.5% in the past five years, according to RP Data.

The property will be open for inspection on Saturday, September 8 at 2pm and will go to auction on Saturday, September 22 at 2.30pm.

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

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