2 Bedroom House for Sale in WONGAWALLAN 33/400 Ruffles Road

33/400 Ruffles Road WONGAWALLAN

Tranquil Home Set in Nature

If you have seen these for sale & sold before, well things have changed and it is even more exciting as these properties are now available to all the public markets, investors, first home buyers, downsizers, retirees, owner occupiers, weekenders, whatever use your heart desires!

Located in Willow Vale, offering investors a very rare POSITIVE GEARED property with secure income source. The property can either be leased out to anyone from the public (as a normal rental property) or you can live in this yourself making this very, very affordable home.

This hilltop property features:
- Sold Fully Furnished
- 2 bedrooms
- Open plan living design
- Split system air-conditioner
- Bathroom with spa bath + separate toilet
- Fully functional kitchen
- Large outdoor balcony
- Water connection available and also has tank water
- Electronic gated estate
- Facilities include swimming pool, tennis court and a gated entry.
- Property will be sold vacant.

Current maintenance:
- Property needs gutters cleaned, gutter guard installed and the water tank cleaned.
- An antenna needs to be installed for digital TV signal. Quoted amount is approx $398.
- Water to connection to the bore bore water. Pipe runs along the rear of the property and just needs a plumber to connect to the house. Quoted cost approx $650.


Want to live in there yourself?
Should you wish to live in there yourself, the only expenses are body corporate fees, council rates and building insurance as below.

Want to rent it out?
Should you wish to rent this property out as as investment, below are the figures for you:

Yearly rental income = $16,380.00 ($315 per week)
LESS yearly expenses:
Body corporate fees = $4,063.40 (Admin Fund $2,772.32 + Sinking Fund $1,291.08)
Council rates = $1,844.60
Building Insurance = $170.49
Rental Management fee = $1,531.53
NETT INCOME approx = $8,769.98

Borrowing funds?
- Current known lenders include: Suncorp, ANZ and Bank of Queensland.
- Due to smaller house/land size, banks will lend 50% of the sale price. Cash or equity in other property will be required for the balance.
- Based on ANZ "Interest Only" Loan, currently at 5.88% for 30 years, borrowing 50% of sale price which is approx $92,500, loan repayments are = $5,876 per year ($113 per week) leaving a positive cash flow of $2,893.98 in your pocket!

Edgar