Friday form guide: Yields of up to 6.3% in Corio

17 Rimula Road, Corio, Victoria, 3214

This four-bedroom Corio house includes a garden shed and a double garage and is on an 840-square-metre corner block. The tenants are on a month-to-month lease but have lived in the property for seven years and are keen to stay on. The current rent is $280 per week, and although listing agent Bob Bartulovic of CJ Keane & Co says the property could possibly rent for $300 per week, having tenants of such good quality makes it worth accepting a slightly below-market rent.

Bartulovic  is marketing the property with price hopes of $230,000 plus, and if it sells for $230,000 and is rented at $280 per week, that would secure an investor a gross rental yield of 6.3%, above the gross indicative yield of 5.8% for Corio houses, 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 house price in Corio was unchanged in the past year, according to RP Data.

The property will be open for inspection Saturday, May 19 at noon and will go to auction Saturday, June 9 at noon.

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

For another investment prospect open for inspection this weekend, see page 2.

 

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13/54 Amy Street, Regents Park, NSW, 2143

On the top floor of a modern complex, this three-bedroom apartment is currently rented out for $410 per week. Although the tenants are on an expired lease, listing agent Sang Tat of Elders Real Estate says this is current market rent for the area and the tenants are keen to stay. The apartment includes a laundry and a balcony and is within walking distance of Regents Park Station, shops and schools.

Tat 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 6.1%, above the indicative gross rental yield of 5.8% for Regents Park units, 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 $8,000 and over five years to be $28,000.

The property will be open for inspection Saturday, May 19 at noon and will go to auction Saturday, June 2 at 2.30pm.

For more about prices and yields in Regents Park, see the RP Data suburb page.