Friday form guide: Yields of up to 4% in Bentleigh

11/15 Eddys Grove, Bentleigh, Victoria 3204

This two-bedroom, low-maintenance unit is currently tenanted on a month-to-month lease at $295 per week. Buxton agent Heather Steadman says the identical adjacent unit rents for $350 per week, but without some renovation work unit 11 is unlikely to command much more than $295. It is within walking distance of Centre Road shops, cafes and the train station, which is in zone 1. 

Steadman is marketing the property with price hopes of $380,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 4% at its current rent,  above the gross rental yield for Bentleigh units of 3.5%, 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 unit price in Bentleigh fell 8.6% in the past year but rose 39.5% in the past five years, according to RP Data.

The property will be open for inspection Saturday, October 13 at 10.45am and will go to auction Saturday, October 20 at 12.30pm.

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