All Topics / Help Needed! / Nexus apartments Nundah (Brisbane)

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  • Profile photo of RamkiSydneyRamkiSydney
    Participant
    @ramkisydney
    Join Date: 2013
    Post Count: 27
    June 26, 2014 - 3:49 pm

    Thinking of buying a 2 bedroom apartment in Nundah, advertised for about 499K with NRAS. Just completed.
    Just Cashflow positive with out NRAS but good positive cashflow with NRAS. Near to train station.

    As of now my current portfolio is about 30K -vely geared per year, so trying to bring it back as much as possible.

    Please let me know if you know this place or any one run numbers on this construction(all one bed room apartments are already sold out)

    Profile photo of superAndrewsuperAndrew
    Participant
    @superandrew
    Join Date: 2014
    Post Count: 188
    June 26, 2014 - 6:18 pm

    Median rents for 2 bed are $370 pw in Nundah so it will be negatively geared without and with NRAS @ $370 pw. I think it would need to rent for at least $500 per week with NRAS to be neutral/positive geared.

    I think they also charge 14% management fee.

    Last 5 year capital growth for units has been only 15%.

    What rent did you use for your calculations?

    Cheers

    Andrew

    superAndrew | Property Analyser and Finder Tool
    https://property-analyser.com.au

    Profile photo of RamkiSydneyRamkiSydney
    Participant
    @ramkisydney
    Join Date: 2013
    Post Count: 27
    June 26, 2014 - 8:57 pm

    Thanks Andrew, below is the calculator
    ” title=”Rent Calculator”>
    http://www.pasa.com.au/Nras-Calculator/Nundah/2_bed_NRAS_in_Nundah.html

    • This reply was modified 10 years, 4 months ago by Profile photo of RamkiSydney RamkiSydney.
    • This reply was modified 10 years, 4 months ago by Profile photo of RamkiSydney RamkiSydney.
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