Friday form guide: Yields of up to 6% in Berkeley Vale
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353 Lakedge Avenue, Berkeley Vale, NSW, 2261
With lake views, this three-bedroom house has been rented to the same tenant for the past six years. The lease is expired. The current tenants are paying $350 per week in rent, and listing agent Peter Moran of Property Central says market rent for the house would be about $400 per week. The light and airy property is close to schools, shops and a lakeside walking track
Moran is marketing the property with price hopes of $349,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2% at its current rent, below the indicative gross rental yield for Berkeley Vale houses of 5.7%, according to RP Data. At $400 per week it would secure an investor a gross rental yield of $6%. 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 $3,000 and over five years to be $7,000.
The median house price in Berkeley Vale fell 5.2% in the past year and rose 3.2% in the past five years, according to RP Data.
The property will be open for inspection Satuday, July 7 at 1.3opm and will go to auction Saturday, July 14 at 2.30pm.
For more information about prices and yields in Berkeley Vale, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
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