Providence Logo


Buy of the month - $74k (12%) under pre COVID-19 market value! Freestanding Brisbane house on 655m2



  • We secured the Property for $526,000 which was $74,000 below pre Covid asking price!
  • 4.1% Gross rental yield
  • 10-year equity growth forecast on this property calculated from 20-year historical suburb growth shows $655,408 with average net annual equity creation of $65,541
  • Conservative growth forecast based on 60% of 20-year historical suburb growth, shows 10-year equity growth of $393,245, with average net annual equity creation of $39,324 per year
  • Property holding cost for client $25 per week with 17% deposit plus purchase costs based on $115,000 single income and interest only loan of 3.68%

How the deal happened:

Purchasing under market value made possible after extracting crucial information from the agent regarding the vendors divorce being the reason for selling and that they had already vacated the property

Property highlights:

  • Well built freestanding brick home
  • Renovated so no need for immediate work
  • Split system air conditioning throughout (5 units)
  • High land to house ratio (approx. 75/25)
  • 1km from train station
  • 200 metres from shopping centre
  • High side of quiet family friendly street
  • Usable 655m2 site
  • Very low 1.2% vacancy rate for suburb
  • 7.8% historical capital growth rate for suburb over past 20 years

*Calculations based on the following assumptions:

  • Forecast growth based on historical 20-year suburb median price growth via PriceFinder
  • Weekly holding cost calculated using PIA Professional Software based on $115k income with 83% of purchase price financed at 3.68% interest only
  • It is important to note that past performance is no guarantee of future performance
  • We recommend readers take the projection number based on real historical growth and multiply this by 60% as a conservative guide for 10-year expectations

To source a similar property please contact …

Happy and Safe Investing,

The Providence Property Team

Click to access the login or register cheese