How does a rental income of $885 per week sound? Its a residential investment returning nearly 5% net!
Construction finished late 2022 on this modern duplex residence which now creates two streams of rental income from its two residences under one roof.
20A is the larger side with 3 bedrooms, 2 bathrooms, walk in storage and attached garage. This one rents for $495 per week with a lease expiring August 2024. It has a large privately fenced yard, dishwasher and air conditioning.
20B is the more compact 2 bed, 1 bath design which perfectly suits its two-person tenancy type who pay $390 per week on an expired lease. This one has single electric lock up garage, fenced yard (with plenty of yard space), air con and an open plan kitchen-living.
With a current combined income of $885 per week this new building may also come with some tax depreciation benefits for the investors (check with your accountant) and brings peace-of-mind for long term investors courtesy of its new home warranty.
All located in a 100% flood-free neighbourhood just outside of Grafton’s well-loved satellite village of Junction Hill. The nearest schools are Westlawn Primary and St Mary’s Catholic within 6 kms and the nearest large employers are the industrial sector at Red Lane about 3 kms away or Grafton Base Hospital and surrounding Aged Care sector on the northern edge of Grafton City.
Long term prospects are solid, the construction is new, the design is practical. What do you think its worth?
RENT: $885 per week ($495 + $390)
COUNCIL RATES: $3350 per year
BUILDING INSURANCE: $2194 per year
LAND SIZE: 781 sqm