Friday form guide: Yields of up to 5.7% in Oakleigh

Within easy walking distance of Oakleigh train station, shops and cafes, this two-bedroom apartment is currently leased at $380 per week on a month-to-month lease. Listing agent Nick Blow of Hodges says this is about at market rent for the unit. It has reverse-cycle air-conditioning as well as a basement car park and storage.

Blow is marketing the property with price hopes of $350,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.7% at a rent of $350 per week,  well above the gross rental yield for Oakleigh units of 4%, 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 $9,000 and over five years to be $31,000.

The median unit price in Oakleigh rose 16.8% in the past year and 29.4% in the past five years, according to RP Data.

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

The property will be open for inspection on Saturday, October 27 at noon and will go to auction on Saturday, November 3 at noon.