Here’s an example “Add-Value” property that I purchased for a buyer looking for a “stepping stone” property to live in for the short term:
Bateman WA 3×2 house located in the a proposed medium density rezoning area
Great value house with 3 living areas that needed simple cosmetic updates. Fully enclosed yard for added security.
Purchase price: $668,300
Appraised value: $680,000
Median house price of Bateman at time of puchase: $778,000
Potential Rent return: $440
Land size: 707sqm
Distance to Murdoch University: 1.5km
Distance to the train: 300m
Distance from Perth CBD: 12km
This style of property would suit investors wanting higher growth, with slightly lower rent returns, or owner occupier looking for a stepping stone home to turn into an investment one day.