Our pick of the week this week is 13 Longbill Pl Taigum QLD 4018. Recently sourced by Simon Loo @ House Finder for $460K, this massive 5 bedroom, 2 bathroom house sitting on 420sqm block offers exceptional balance between CG & cashflow:
1. Location – situated in residential pocket of Taigum and minutes drive away to Taigum Square shopping centre.
2. Building – Brick Veneer house keep immaculate throughout.
3. Value Add Potential – this massive house has plenty of rooms in place already however some touch up or cosmetic renovation could further improve the value down the track.
4. Yield – rental appraisal approx. $520 per week for existing house so about 5.8% gross rental return.
This is definitely not a conventional Brisbane house you’ll find! With 4 bedrooms already in place plus a “Hobby Room” and “Study”, it could be leased as a 6 bedroom house and is absolutely massive! The estimated rental return from day 1 makes it a comparable cashflow property like in Logan but Taigum is only 16km north of Brisbane CBD. As such it’s definitely a very good IP balancing out cashflow and CG for those investors who is trying to get a good balance in their portfolio.
The only downside for this property is land parcel is relatively small and there is no further, strategic value-add that can be done down the track. So it may not necessary be the best option for someone who would like to manufacture equity however it will suit the lazy investors for a long term buy & hold with minimum hassle.
Taigum is a suburb situated 16km north of Brisbane CBD. House median price currently sits at $534K and has been consistently going up since 2012. With an affordable entry price and acceptable average yield of 4.4% it has become more and more popular amongst investors lately. Statistics shows that about 64% are owner occupied and 33% are being rented so contains a good owner to renter ratio. Vacancy rate has also been trending down with the most recent figure sitting at 1.8% (July 2019) .
Contact us today if you need assistance to find similar investment properties!