1 Bedroom Villa for Sale in WONGAWALLAN 13/400 Ruffles Road

13/400 Ruffles Road WONGAWALLAN

SOLD by The Edgar Natolo Team

This hill top log cabin property features:

- 1 bedroom with bathroom upstairs
- Open plan living design
- Split system air-conditioner
- Fully functional kitchen
- Large outdoor balcony
- Free to Air Satellite dish installed
- Electronic gated estate
- Facilities include swimming pool & tennis court
- Property is currently vacant
- Land size is 128sqm
- You also own a portion of all the common ground and property.


Live in there yourself:
The only expenses are body corporate fees, council rates and building insurance as below.


Keep as an investment:
This property is can be leased for $300 per week.


The Figures:
Yearly Rental Income = $15,600.00 ($300 per week).
Less yearly expenses:
Body corporate fees = $4,063.41 (Admin Fund $1,584.03 + Sinking Fund $2,479.38).
Council rates = $1,844.60
Rental Management fee = $1,458.60
Building Insurance = $134.36
NETT INCOME approx = $8,099.03


Borrowing funds?:
- Current known lenders include: Suncorp, ANZ, NAB, CBA and Bank of Queensland.
- Due to smaller land size, banks will lend 50-70% of the sale price. Cash or equity in other property will be required for the balance.
- Based on ANZ "Interest Only" Loan, currently at 4.98% for 30 years, borrowing 70% of sale price which is approx $118,400, loan repayments are = $5,892 per year.


Common FAQ's:

Question: What are the vacancy rates?
Answer: Vacancy rates are based on how you wish to rent out the property. As with all the other properties, houses, units, apartments we manage on the Gold Coast and Brisbane we recommend you obtain long term tenants with 6 month leases minimum and 12 months preferable and give tenants to option to continue renewing their leases to avoid any vacancy period.

Question: Are pets allowed?
Answer: Unfortunately the Body Corporate By-Laws do not allow pets.

Question: Who is managing the properties?
Answer: As we have many years experience there and a well established property management division our agency will be managing many of the properties there.

Question: Are there any restrictions or permission needed if I want these in the future?
Answer: No restrictions, this is just like any other normal property, you can rent, sell them whenever and to whomever you want.

Question: Are these strata titled, do I own any of the land?
Answer: Yes, just they are just like owning any other property, townhouse or duplex. You own the land size written in the description.

Edgar