2 Bedroom Villa for Sale in WONGAWALLAN 35/400 Ruffles Road

35/400 Ruffles Road WONGAWALLAN

SOLD by The Edgar Natolo Team

Here is a chance for investors to secure 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:

- 2 bedrooms
- Open plan living design
- Split system air-conditioner
- Bathroom with spa bath + separate toilet
- Fully functional kitchen
- Large outdoor balcony
- Laundry
- Electronic gated estate
- Facilities include swimming pool & tennis court


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.

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

Yearly rental income = $15,600.00 ($300 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 = $1,458.60

NETT INCOME approx = $8,062.91

Borrowing funds?:
- Current known lenders include: Suncorp, ANZ and Bank of Queensland.
- Due to smaller land size, banks will lend 50 - 60% of the sale price.
Cash or equity in other property will be required for the balance.

Edgar