Friday form guide: Yields of up to 5.7% in Kingsville

12/46 Kingsville Street, Kingsville, VIC, 3102

This one-bedroom ground-floor apartment is currently leased for $200 per week, and Barry Plant agent Peter Nichols says this is slightly under market rent. The tenants are on an expired lease, and Nichols says the property could probably rent for $220 per week. The property has parking onsite and is within walking distance of shops. 

Nichols is marketing the property with price hopes of $200,000 plus, and if it sells for $200,000 that would secure an investor a gross rental yield of 5.2% at its current rent or 5.7% if it were rented for $220 per week. Both are significantly higher than the indicative gross rental yield for Kingsville units of 4.2%, according to RP Data. 

Washington Brown estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.

The median unit price in Kingsville went up by 2.5% in the past year, according to RP Data.

The property will be open for inspection on Saturday, March 24 at noon and will go to auction on Saturday, March 31 at 10.30am.

For more about prices and yields in Kingsville, see the RP Data suburb page.

For another investment prospect open for inspection this weekend, see page 2.

104 Stella Street, Fairfield Heights, NSW, 2165

The tenant in this three-bedroom house is paying $380 per week and is on an expired lease. Pretti Real Estate agent Stephen Jurinic says this is below market rent, and the property could be leased for between $400 and $420 per week. The house has timber floors, a timber kitchen and a detatched room that could make a good home office.

Jurinic is marketing the property with price hopes of $480,000 plus, and if it sells at that price it would secure an investor a gross rental yield of 4.2% at its current rent. If it were rented for $420 per week, that would secure a gross rental yield of 4.6%, below the indicative gross rental yield for Fairfield houses of 5.1%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.

Washington Brown estimates the first-year tax depreciation deduction to be $10,000 and over five years to be $28,000.

The median house price in Fairfield Heights rose by 7.2% in the past year, according to RP Data.

The property will be open for inspection on Saturday, March 24 at noon and will go to auction on Saturday, March 31 at 2pm.

For more about prices and yields in Fairfield Heights, see the RP Data suburb page.