The Strategy
We focused on finding a property that combined modern features, a family-friendly location and sound financial fundamentals. Our assessment considered comparable property values, the home's configuration, land size, proximity to amenities and potential rental income.
The Property
A modern four-bedroom, two-bathroom home with two car spaces on a 400 sqm block in regional Victoria.
Why This Property Stood Out
Modern Design: A relatively new home offering contemporary living.
Family-Friendly Suburb: A location suited to families and everyday convenience.
Access to Amenities: Conveniently located near local amenities.
Practical Layout: Four bedrooms, two bathrooms and two car spaces.
Rental Potential: An estimated rental appraisal of $430 per week.
Value Opportunity: Purchased for $530,000 against a stated comparable value of $550,000.
The Research
Our assessment considered the property's comparable value, modern features, land size, family appeal and indicative rental return.
The stated comparable value of $550,000 represents a $20,000 difference above the purchase price. The rental appraisal indicates potential gross rental income of $22,360 per year, before expenses and vacancy.
The Negotiation
The property was secured for $530,000, which is $20,000 below the stated comparable value. Specific negotiation details and the seller's initial asking price were not provided.
A modern family home in a family-friendly regional Victorian suburb, conveniently located near local amenities. Its practical layout and land size may support ongoing appeal to families and tenants, subject to local market conditions and planning considerations.
The Outcome
Purchase Price: $530,000
Stated Comparable Value: $550,000
Difference: $20,000 below comparable value
Indicative Gross Rental Yield: 4.22% per annum
Property Configuration: 4 bedrooms | 2 bathrooms | 2 car spaces
Land Size: 400 sqm
The PropWisdom Advantage:
At PropWisdom, we look beyond the asking price to assess the factors that matter: property quality, location, comparable values and rental potential. Our goal is to help buyers make informed property decisions with confidence.
The buyer secured a modern family home in regional Victoria for $530,000, with an estimated rental appraisal of $430 per week and a purchase price below the stated comparable value.