THE OTHERS

Not Quite
Right
Here is a quick snapshot of what we have viewed, but have put the pen through for one reason or another (listed below).

8 O'Shea Street, Zillmere

Walk Score

Land

Property

Opportunity

OO Appeal

Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

2 - Car space

​​

Orientation

Front: North

Rear: South

​​

Size

Internal: 146m2

Land: 688m2

​​

Sale Method

Private Treaty - Just Listed

Asking Price

$469K +

​​

Vendors Motivation to Sell

Investor Sale

Current Offers

1 Conditional Offer Pending

Quick Appraisal

$470K

Quick Rental Appraisal

$400 - $420 p/wk

Public Transport

Zillmere Station: 900m

​​​

Renovation Allowance

Nil

Our Feedback

Location: The subject property is located in a quiet and convenient residential street just a short walk to Taigum Square Shopping Centre and less than 1km to the Zillmere Train station. The property also has a perfect north/south aspect on a quiet residential street. The backyard is low maintenance and usable and could be easily updated with some landscaping which would improve the overall feel of the property (current tenants have a dog which has ruined most of the lawn).

Subject Property: The subject property is a low set, post-war style home with a weatherboard (appearance) cladding. The floor-plan is functional and renovation appears of decent quality, albeit basic.

Opportunities: Potential to convert laundry into second bathroom +-$15k. Potential to extend to the rear adding a fourth bedroom and rear deck +- $75k. Add 1.8m timber fencing to perimeter to improve overall privacy +- $5k. Full Landscaping +- $5k.

Risks: Cladding appears to be Weatherboard, however, it is actually “weatherboard look” aluminium sheeting covering full asbestos fibre cement cladding. Significant asbestos content, inside and out. 27% public housing in the immediate area.

Summary: The property presents well and is certainly rentable in its current condition, however, due to the risks mentioned above we believe this property is too high risk, mostly due to the exterior asbestos cladding which is deceptive and not immediately apparent to the untrained eye. If the cladding was genuine weatherboard I believe this property would be worth considering for the right price having consideration for the public housing (no immediate neighbours).

40 Fisher Parade, Zillmere

Walk Score

Land

Property

Opportunity

OO Appeal

Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

2 - Car space

​​

Orientation

Front: TBC

Rear: TBC

​​

Size

Internal: TBC

Land: 997m2

​​

Sale Method

Auction (2 November 2019)

Asking Price

TBC

If auction, willing to sell prior

TBC

​​

Vendors Motivation to Sell

TBC

Current Offers

None

Quick Appraisal

Logical: TBC

Emotional: TBC

Target: TBC

Renovation Allowance

TBC

Public Transport

Geebung Station: 1.0km (14-minute walk)

​​​

Quick Rental Appraisal

TBC

Our Feedback

TBC

9 Nicholson Street, Mitchelton

Walk Score

Land

Property

Opportunity

OO Appeal

Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

1 - Car space

​​

Orientation

Front: TBC

Rear: TBC

​​

Size

Internal: TBC

Land: 405m2

​​

Sale Method

Private Treaty

Asking Price

TBC

Land Value

TBC

​​

Vendors Motivation to Sell

TBC

Current Offers

None

Quick Appraisal

Logical: TBC

Emotional: TBC

Target: TBC

Renovation Allowance

TBC

Public Transport

Mitchelton Station: 700m (8 minute walk)

​​​

Quick Rental Appraisal

TBC

Our Feedback

TBC

26 Marshall Street, Mitchelton

Walk Score
Land
Property
Opportunity
OO Appeal
Overall

The Numbers

 

3 - Bedroom 

1 - Bathroom

1 - Car space

Size

Land - 647m2

Internal - N/A

Orientation

Front - North-West

Rear - South-East

Land Valuation

$485,000 (as of the 19th June)

Last Sold

February 2004 - $315,000

Days on Market

12 (as of the 30th July)

Sale Method

Private Treaty

Asking Price

$589,000​

Vendors Motivation To Sell

N/A

Current Offers

N/A

Quick Appraisal

Logical: $600,000 - $620,000

Emotional: $620,000 - $630,000

Target: $600,000 - $620,000

Rental Appraisal

$450/wk

Distance to Train Station

260m - 3 minutes (and two other stations within 1.5km/15mins)

Distance to Closest Shop

1.3km/17 mins to Brookside Shopping Centre; 1.2km/15 mins to Mitchelton Shops

Our Feedback:

Raised mid-century weatherboard cottage with good street appeal and an excellent renovation. Configuration a little unconventional, in that living area and large deck sit to the front side of the house, not the back. May be potential to extend out the back in the future, based on the roofline of some neighbouring properties. Good location, close to multiple train stations, also to both local shops and the much larger Brookside Shopping Centre, both with plenty of cafe/restaurant options.

Update: We liked this property, but purely from a numbers point of view we have to put a line through it as it exceeds our target price range of $575k. We believe this will sell betwen $600k - $620k.

27 Trouts Road, Everton Park

Walk Score
Land
Property
Opportunity
OO Appeal
Overall

The Numbers

 

4 - Bedroom 

2 - Bathroom

2 - Car space

Size

Land - 606m2

Internal - 125m2

Orientation

Front - West

Rear - East

Land Valuation

$405,000 (as of the 19th June)

Last Sold

June 2018 - $460,000 (pre-reno)

Days on Market

5 (as of the 30th July)

Sale Method

Private Treaty

Asking Price

Offers

Vendors Motivation To Sell

N/A

Current Offers

None

Quick Appraisal

$600k +

Rental Appraisal (Pre-reno)

TBD

Distance to Train Station

2.6km /32 mins (Enoggera station)

Distance to Closest Shop

1km/10 mins to Everton Park Shopping Centre (incl Coles, Woolworths, Harvey Norman);

6km to Chermside Westfield

Our Feedback:

A quintessential Queenslander with wonderful street appeal and beautifully restored via a stunning renovation. Retaining all of those iconic Queenslander features - casement windows, wooden floors, picture rails, archways and VJ walls - and deftly complemented with modern touches, this home really packs a punch in the character department. Sitting on a large, flat, landscaped block, there may be potential to extend later based on rooflines of some neighbouring properties. The main drawback to this property is its position on the main road, and near the intersection with another (Stafford Road). While close to Everton Park Shopping Centre, it's just under 3km from the nearest train station. 

Update: We couldn't see past the main road and offers are exceeding our valuations in the 600+ range.

14 Priscilla Street, Zillmere

Walk Score
Land
Property
Opportunity
OO Appeal
Overall

The Numbers

 

3 - Bedroom 

1 - Bathroom

1 - Car space

Size

Land - 604m2

Internal - 100m2

Orientation

Front: East

Rear: West

Land Valuation

$365,000 (as of the 19th June)

Last Sold

June 2009 - $455,000

Days on Market

13 (as of the 17th July)

Sale Method

Private Treaty

Asking Price

Offers over $499K

Vendors Motivation To Sell

N/A

Current Offers

N/A

Quick Appraisal

TBD

Rental Appraisal (Pre-reno)

N/A

Distance to Train Station

1km/12 mins (Zillmere station)

Distance to Closest Shop

1km/1 mins (Zillmere shops)

Our Feedback:

1960s weatherboard home with good street appeal and tidy - albeit quite small - internals. A key feature is the massive, covered entertaining deck, and the large nicely landscaped block. The block appears to have a gentle slope which may limit options to raise and extend later. In a good position - quiet street, backing onto parkland, close to transport and local shops, with Chermside Westfield less than 3km.

Update: This property had several structural concerns that we believe will need to be attended too immediately if purchased. We estimate the cost of this to be approx. $15k. The house was also pokey and we can do better.

35 Fitzsimmons Street, Keperra

Walk Score

Land

Property

Opportunity

OO Appeal

Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

1 - Car space

​​

Orientation

Front: South-East

Rear: North-West

​​

Size

Internal: 97m2 + 27sqm deck

Land: 648m2

​​

Sale Method

Private Treaty

Asking Price

$565K+

Land Value

$470,000 (as of June 30, 2019)

​​

Vendors Motivation to Sell

Have moved out, eager

Current Offers

None

Quick Appraisal

Logical: $565,000 - $575,000 Emotional: $575,000 +

Target: $555,000 - $570,000

Renovation Allowance

We had allowed $5k for maintenance in your property plan, we believe this can be used to tart up the below level so it can be safely habitable

​​

Public Transport

Grovely Station: 750m (9 minute walk|1 minute drive)

​​​

Quick Rental Appraisal

$440 - $450/wk

Our Feedback

The property presents well and is a box ticker. The owners have spent some money on big-ticket items such as a new colourbond roof, new fence and gates, new carport, solar system and solar hot water. They have also renovated the bathroom, and the three generous sized bedrooms include venetian blinds and built-ins. The kitchen is definitely dated, however, perfectly fine to lease as-is. The living spaces are either side of the kitchen and provide ample living spaces for a 3 bedroom home. The rear deck is positioned and sized proportionately to the house and has a nice outlook to the rear (North West). Underneath, there is a living space that is dated but looks to be used as a studio zone. It is fine as is, but it will require some attention, potentially before leased to ensure it safe.

 

The block is large at 648m2 and does slope down from the street and then flattens at the house. To the rear, the yard is flat but does drop off slightly again. The drainage to the front and sides of the house is all in place and working, likewise, the AC connections are all to code and satisfactory. It was dark at the time of the inspection and we couldn't get underneath the house to inspect the stumps, however, a build report will detail what this looks like exactly.

The long-term opportunity lies within extending out and/or lifting up to create an additional bedroom, living space and bathroom - as well as opening up the kitchen living and deck zone to be more open.

 

Location-wise, it sits close to the border of its superstar neighbour Mitchelton, where a property of similar spec and land size, will be fetching mid-high 6's. It's a 10 and 14-minute walk to Grovely and Oxford Park Train Stations respectively. Furthermore, it's a 9-minute walk to Arana Hills Plaza where there are a K-Mart, Coles and Aldi to name a few.

 

The property does tick a lot of boxes, and we would be keen to have a further chat with you about it.