Granny Flat Case Study Logan
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
Bank Valuation
$510k
At 80% bank will loan $408k, outlay $60k personally
Expenses (rates, interest only loan 4.5%, agent fees)
$24,282 p.a
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.
All-Inclusive Cost of Granny Flat $150k
Rental Income $330 p.w
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