Weekend Yield Watch: Yields of up to 6.3% in Port Macquarie

Weekend Yield Watch: Yields of up to 6.3% in Port Macquarie
Cassidy KnowltonNovember 16, 2011

3/77 Hollingworth Street, Port Macquarie, NSW, 2444

This tenanted two-bedroom unit comes with a car space and is within easy walking distance of Port Macquarie town centre. PRD Nationwide agent Wayne Prince is marketing the property with price hopes of $230,000 plus, and it is tenanted at $280 per week. It was passed in on a vendor's bid of $230,000 at its auction on Saturday, November 19. If it were to sell for $230,000 that would be a gross rental yield of 6.3%, much higher than the indicative gross rental yield for Port Macquarie units of 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. The property includes a lock-up garage. Washington Brown estimates the first-year tax depreciation deduction to be $7,000 and over five years to be $19,000. 

For more about prices and yields in Port Macquarie, see the RP Data suburb page

For more investment prospects going to auction this weekend, see pages 2 and 3. 

 


15 Tamala Avenue, Notting Hill, VIC, 3168

This three-bedroom house is leased at $350 per week until March 2012, so it could be a good prospect for investors. Kyla Davis from Roger Davis Real Estate was marketing it pre-auction with price hopes of $450,000 plus. It was passed in at auction at $466,000 on Saturday, November 19. If it had sold for $466,000 that would have equated to a gross rental yield of 3.9%, higher than the indicative gross rental yield for Notting Hill houses of 3.3%, 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. The property is a short distance from Brandon Park Shopping Centre and is close to transport. Washington Brown estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000. 

For more information on yields and prices in Notting Hill, see the RP Data suburb page.

 


147 Fox Street, St Albans, VIC, 3021


Barry Plant agent Flo Carreon is marketing this tenanted three-bedroom house with price hopes of $350,000 plus. It is currently rented at $1,084 per month and was passed in at auction on a vendor bid of $360,000 on Saturday, November 19. Had it sold for $360,000 that would have equated to a gross rental yield of 2.8%, below the indicative gross rental yield for St Albans houses 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. The property is within easy walking distance of Keilor Plains station, St Albans North Primary School and Keilor Downs Shopping Centre. Washington Brown estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000. 

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

 

 

 

 


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