Suburb: Thornbury, Victoria
Client Type: First Time Investors
Service: Search > Assess > Negotiate
NPB Purchase Price 2015: $925,000
Sold Price 2019: $1,215,000
Rent: $685 pcw Yield: 3.85%
Property: 3 Bedroom Edwardian
A great example of growing your wealth through property investment.
33.1% capital growth in 4 years!
National Property Buyers were engaged to purchase an investment property for local first time investors that wanted a high performing investment property with the potential to achieve significant capital growth whilst returning a healthy rental yield. It can be a difficult ask to find a property that ticks both boxes comfortably! However, we were up to the challenge.
Our client’s budget was in the mid-900s and their brief included wanting a land component and a period style home. Robert Di Vita was engaged as their Buyer Agent and started the search after a comprehensive conversation about their property goals and brief.
Robert quickly found a property that ticked all their boxes and then some in Thornbury. Thornbury is an inner city fringe suburb just 8 kilometres north of the CBD and is easily accessible by Public Transport. In 2015 it was an up and coming suburb and is now one of Melbourne’s trendiest places with a significant café culture. There is a stampede of young professionals trying to moving in!
The property was a 3 bedroom Edwardian on 341 sqm in a quiet established residential street. In an excellent location between St Georges Road and Nicholson street it was close to cafes, parks, public transport and within the coveted Northcote High School zone. Robert showed the property to his clients and they agreed that it had excellent potential. Robert completed his due diligence and provided his clients with an estimated value range for the property.
Armed with his client’s maximum budget Robert attended the auction. Robert secured the property at auction, under strong competition for $925,000. Under his client’s budget!
The property was tenanted out for $685 per week achieving a rental yield of 3.85% for a number of years.
Our client originally thought they might move into the property after a period of time but circumstances changed and they decided to list the property for sale in 2019. The property proved popular. We knew the property would always appeal to buyers. A single level home on an easily managed block with a flexible 3 or 4 bedroom floorplan it had dual appeal to upgraders and downsizers! It sold for $1,215,000 at auction.
That is a value change of $290,000!
This property achieved 31.1% growth in just 4 years!
The whole experience for the client was a walk in the park and they were supported and mentored along every step of the way and walked away with a tidy profit. What an outcome for first time investors!
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