Dual key property $604,765
Dwelling 1: 3 beds, 2 baths, 1 garage
Dwelling 2: 2 beds, 1 bath, 1 garage
Excellent rental appraisal
16 – 22 weeks to completion
A dual key property has some great advantages – mainly that you get two rental incomes from the one investment. Dual key is similar to dual occupancy in that there are two dwellings within the one building. The difference is that a dual key property can’t be sold separately.
This property is a terrific opportunity for someone looking for a generally positively geared investment.
Location
The Lower Hunter is a growth area, particularly popular for young families. It’s a 45 minute commute to Newcastle CBD and 35 minute drive to the newly upgraded Newcastle International Airport and RAAF base.
The areas of Wallis Creek and Maitland are popular for their affordability, convenience and space. With a great variety of cafes, restaurants, department and grocery stores within a few kilometres, lovely parks and schools nearby, this area is highly sought after by both investors and owner occupiers.
The Property
Dual key properties are an interesting investment proposition.
For one entry price, you are getting two separate rental incomes, which means a great yield and a generally positively geared investment. The fact that the dwellings can’t be sold separately means your resale options would be towards investors, someone looking for a granny flat type of set up for a growing family or grandparents, or someone looking for supplementary income through AirBnB or the like.
It does make you think outside of the square.
For this property, dwelling one has 3 beds, 2 baths and one garage, with rent appraisal of $430 per week. Dwelling two has 2 beds, 1 bath and one garage, with rent appraisal of $350 per week. That’s a great estimated return of $780 per week.
Amongst the inclusions of this turnkey property are 25 year structural guarantee, stone benchtops in kitchens and stainless steel dishwashers, driveway, fencing, front and rear turf, front garden bed, two split system air conditioners, ceiling fans and energy efficient lighting, carpet and tiles, vertical blinds, flyscreens and clothesline.
Price
These two dwellings under one roof are priced at $604,765.
As this is a house and land package, stamp duty is only payable on the land component, which is approximately $5,679. If you were to pay stamp duty on the completed home, it would be approximately $23,619.
What’s next?
If this development interests you, please get in touch and we can share more details and discuss whether it meets your investing strategy.
The land is being registered this week and the build will take 16 to 22 weeks, so it’s perfect if you’re ready to invest now.
Please let me know if you want to know more about this interesting, positively geared investment opportunity.
Michael Rogers
0416 049 226
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