Friday form guide: Yields of up to 6.7% in Bateau Bay
Page 1 of 266 Lumby Drive, Bateau Bay, NSW, 2261
This eco-smart four-bedroom home has 1.5kW solar panels and is currently leased at $385 per week, which is at market rent for Bateau Bay houses. The tenants are on an expired lease but are keen to stay on. The house has recently been renovated and has new downlights, carpets and air-conditioning and has a front veranda with valley views.
LJ Hooker agent Paul Witney is marketing the property with price hopes of $299000 plus, and if it sells for $299,000, that would secure an investor a gross rental yield of 6.7%, well above the gross indicative yield of 5.1% for Bateau Bay 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 $9,000.
The median house price in Bateau Bay increased 1.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 16 at 10am.
For more about prices and yields in Bateau Bay, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
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