Description
- The existing house is liveable but outdated. 3-bedroom, 1 bathroom fibro cladded house.
- 607 SQM Block zoned low density residential
Strategy
- To demolish the existing house, sub divide the land into two blocks and build two five bedroom, five bathroom dwellings for the purpose of rooming accommodation.
- Each bedroom will have its own kitchenette, living area, bedroom and ensuite bathroom.
| Total costs including construction | $2,000,000 |
| Expected Valuation | $2,400,000 |
| Capital Required | $437,000 |
| Net income after expenses | $160,000 |
| Net income after interest costs | $66,000 |
| Cash on cash return | 15% |
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