1 Bedroom Villa for Sale in WONGAWALLAN 14/400 Ruffles Road

14/400 Ruffles Road WONGAWALLAN

SOLD by The Edgar Natolo Team

This 2 level chalet with a combined living & kitchen on the ground level & a bedroom & bathroom on the upper level is located in the successful Golden Door Health Retreat in Willow Vale, offering investors a very rare positive geared property with secure income source.

It is located in the successful Golden Door Health Retreat in Willow Vale, offering investors a very rare positive geared property with secure income source. The Golden Door is your tenant by way of a registered lease which means it is permanently tenanted (you cannot live there yourself).

If you are going to borrow funds to purchase, please be aware that for resort investments most banks lend 60% of the sale price. This means you will need the other 40% in cash or equity in another property.


Monthly income received = $1,500.27

Less Monthly Expenses:
Body corporate fees = $363.62
Council rates = $89.95
Management fee = $112.52
Building Insurance = $13.45
NETT INCOME approx = $920.73


If you borrow funds*:
Deduct Loan Repayments = $279
Positive Cash flow left over: $641.73

*Based on ANZ Interest Only variable rate loan currently at 5.88% for 30 years, borrowing 60% of sale price which is $57,000 . This means everything is paid for and being paid off and you still have $584.18 left over in your pocket!


Important Notes:
- Payments are transferred monthly into your bank account.
- As this is a resort investment, banks will loan 60% of its value, you will therefore need the balance of 40% in cash or equity in another property.
- Currently on a 7 year lease expiring 28/2/14 with further 2 x 7 year options.
- The immediate owners can stay up to 4 weeks a year. Min stay is 1 week & 1 day. This is worked out as (7 days = 1 week, 8 days = 2 weeks, etc) In the company name the owner or main shareholder director of the company is the user of the right.

Edgar