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Granny Flat Case Study

20% Return on an Initial Investment of $60k

A new development at 19 Yorkshire Crescent, Mount Warren Park.

Renovation of the existing dwelling & a new Construction of a Granny Flat in the backyard. 

$200/week Positively Geared

Original House & Land including all fees 

$305,631

​

Land, Reno & Building Costs for this project totalled 

$468,776

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Bank Valuation

$510k

​

At 80% bank will loan 

$408k, outlay $60k personally

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Expenses (rates, interest only loan 4.5%, agent fees)

$24,282 p.a

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Rental Return of 

$34,840 p.a

RENOVATIONS TO EXISTING HOUSE

  • New carport and driveway added in front of the existing house

  • Kitchen Renovations: Installed new range hood and overhead cupboards

  • Fresh coat of paint on all walls and woodwork - exterior & interior

  • New floor coverings to living areas and bedrooms

Cost of Renovation $13k

- Rental income $340 p.w -

NEW GRANNY FLAT

  • 70m2 Granny Flat with 2 bedrooms, bathroom and large deck with outdoor living/dining

  • Extras: 5.5kW air conditioning, concrete driveway, security screens, blinds, single carport, larger deck, letterbox, clothesline, separate water meter, separate power & phone point with data conduit.

- Rental income $330 p.w - 

all-inclusive Cost of 

granny flat $150k

Check out our Specifications Document for more information.

TO FIND OUT MORE ABOUT THIS INVESTMENT PROJECT

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