Friday form guide: Yields of up to 5.9% in Sylvania

Friday form guide: Yields of up to 5.9% in Sylvania
Cassidy KnowltonDecember 8, 2020

9/14-20 Madeira Street, Sylvania, NSW 2224

Currently tenanted until March 2013 at $620 per week, this three-bedroom near-new townhouse has a spa bathroom, front and rear courtyards and a laundry. It is within easy walking distance of shops, cafes and transport.

Ray White listing agents Dave Watkins, Kim Nolan and John Basa are marketing the property with price hopes of $550,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.9% at its current rent, well above the gross rental yield for Sylvnia houses of 3.6%, 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 $20,000 and over five years to be $60,000.

The median house price in Sylvania rose 4% in the past year and 27.4% in the past five years, according to RP Data.

The property will be open for inspection on Saturday, September 22 at noon and will go to auction on Saturday, October 6 at 1pm.

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

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

 


19/44 Fitzroy Street, St Kilda, VIC, 3182

On the second floor of a Fitzroy Street, St Kilda, block, this one-bedroom apartment is currently vacant but could be expected to secure a rental of $360 to $370 per week, according to listing agent Carl Hexter of Biggin Scott. The apartment includes a separate study and an ornamental fireplace and is within metres of Fitzroy Street trams, cafes, restaurants and bars.

Hexter is marketing the property with price hopes of $380,000 plus, and if it sells for $380,000 and were rented at $370, it would secure an investor a gross rental yield of 5.1%, above at the median gross rental yield for St Kilda units of 4.3%, 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 $8,000.

The median unit price in St Kilda fell 0.6% in the past year but rose 37.9% in the past five years, according to RP Data.

The property will be open for inspection Saturday, September 22 at 12.45pm and will go to auction Saturday, October 6 at 1pm.

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

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