Location features

 

• walking distance to the Caboolture river

• walking distance to Centenary Lakes Parks and football fields

• walking distance to Morayfield Road Shopping Centre

• nearby walking trails

 

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Overview

 

Another bargain buy, at the end of 2020, as the market was heating up – this property was purchased in a nice area of Caboolture South surrounded by a large portion of owner-occupied properties

 

This was an on-market deal that wasn’t getting much attention – the tenants in the property were paying under market rent and unfortunately were not presenting the home neatly for inspections.

 

The property was on the market for $320,000 and we picked it up for a bargain price of $285,000.

 

The property is rented for $320 a week to the same tenants and is due to be increased.

 

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Summary

 

The idea behind this property is to hold it until the current tenants no longer wish to rent the home, then carry out a renovation – looking to spend around $25,000 on internal and external renovations.

 

We would expect the property value, once the renovation has been completed, to be around $380,000 in today’s market and $400 per week rent could be achieved.

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The Brisbane northside suburb of Caboolture South is located in the stunning Moreton Bay region making it an ideal location to purchase a Queensland investment property. A 3 bedroom / 2 bathroom property in this area is a perfect choice for a Buyer's Agent, a property investor, a future buyer and / or a tenant.