E-Valuation = $412,000
E-Valuation estimated selling range = $370,000 to $450,000
A Registered Valuation commissioned by the bank = $370,000 (This was commissioned by the bank when the property was heading towards mortgagee sale and is thus naturally conservative in nature).
Both of these reports are available for your viewing.
The rental accessment is $480 per week & the current occupants are keen to stay on. Thats results in an 8% rental return as is.
The property features 5 bedrooms, 2 bathrooms, an attached double attached garage and a sleepout. It is on an 1179m2 section which is reported to be subdividable in the registered valuation.
The property is down a ROW surrounded by well presented homes whose owners obviously take some pride in ownership. This property is currently letting its neighbors down due to its current scruffy condition. It would benefit greatly in presentation and VALUE from a good clean and tidy up. Personally I believe the Registered Valuation is correct for the properties current condition. Post tidy up I would expect it to sell in the $400,000 to $450,000 price bracket especially with the potential to subdivide the site.
Summary - This property would suit an investor, property trader, or developer.
Note: This property is being offered with a double settlement. Settlement date has now been extended to the 21 of October 2008.