Friday form guide: Yields of up to 5.3% in Neutral Bay

In a pet-friendly block of six, this light and airy one-bedroom apartment has 42 square metres of internal space. It includes off-street parking and attic storage space. The unit is currently tenanted at $455 a week until March 2013. The property is within walking distance of ferries, bus services and Neutral Bay shops. 

Ray White agents James Kuziow and Mary Curran are marketing the property with price hopes of $450,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.3% at its current rent,  above the gross rental yield for Neutral Bay units of 4.5%, 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 $4,000 and over five years to be $8,000.

The median unit price in Neutral Bay rose 2.9% in the past year and 24.7% in the past five years, according to RP Data.

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