Eeek, just saw this
$510pw 3br, renovated
– http://www.domain.com.au/carlton-nsw-2218-10180318?haid=2596869&utm_source=domain&utm_medium=email&utm_campaign=newhomealertSold in July 2015 for $750k
– http://www.realestate.com.au/property-apartment-nsw-carlton-120176901this equals a 3.53% ROI before expenses and before interest (eg probably only 2.5% after expenses and probably -1.2% after expenses and interest).
Ouch :(
I have a 3br nearby and its renting out for $555pw and unrenovated though slightly better layout and slightly larger. Wondering if this is a case of tenant empty worry being so close to Christmas (and why there wasn’t a tenant in there already if it settled back in Sept?)
Anyone else own in the Carlton NSW 2218 area? Any thoughts on the low rent for what is a nicely renovated apartment that should be asking at least $60pw more?
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