Purchased $1,020,000
Potential Rent: $750 p/w
Potential Yield: 3.8%
Our previous client came to us looking for an investment property with the potential to build a granny flat at the rear of the property. They required a three-four bedroom home with two bathrooms. We found this off market property in a great location with four bedrooms, two bathrooms and two living areas and potential to build the granny flat.
Contact Property Solutions 101. Discuss your Newcastle commercial and residential property management and buyer’s agent needs.
Suburb Snapshot: Georgetown
Georgetown is located 6 kilometres from Newcastle’s central business district. It is a central, sought after location with a small local shopping centre in the suburb and close by is Waratah Village with Kmart, Coles and other specialty shops.
There is a wide variety of public and private schools in the area.
The Mater Hospital is 2km and there is easy access to transport.
Georgetown is approximately 0.5 square kilometres. It has 1 park. In 2016 the population was 1,967. The predominant age group in Georgetown is 20-29 years. Households in Georgetown are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Georgetown work in a professional occupation. In 2011, 68.4% of the homes in Georgetown were owner-occupied compared with 68.6% in 2016.
Currently the median sales price of houses in the area is $925,000.
Based on five years of sales, Georgetown has seen a compound growth rate of 16.5% for houses and 9.2% for units.
Contact Property Solutions 101. Discuss your Newcastle commercial and residential property management and buyer’s agent needs.