The land for this development was purchased late 2015. The project was completed late 2016. The purchase price for the land was $275,000. The land is in a premium master planned estate with highly sought community facilities, close to school and shopping centre. This property was carefully chosen for the client by Property Bloom™ for development for three main reasons:
- The location is planned for massive population growth and expansion by NSW Planning and Council.
- The estate community facilities.
- The market. This development was sold and targeted downsizes looking for low maintenance, single level dwellings.
Living area of each three bedroom, two bathroom villa: 160sqm
|
Total Project Cost, including land, stamp duty, legals, DA, CC, build cost, Torrens title subdivision: |
$714,546 |
Sold for in 2017:
|
Villa 1: |
$495,000 |
|
Villa 2: |
$492,000 |
|
Total: |
$987,000 |
Equity Created:
The project ended with an equity result of $272,454 before the project management fee within 12 months.
ROI 24.2% after PM fee.
Gross Rental Yield – 6.9%
