FOR SALE
$1,160,000

15 Norman Street
Deagon QLD 4017

Bedrooms: 5
Bathrooms: 5
Car spaces: 2
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Newly Converted Rooming House/Block of Units.

FULL INFORMATION MEMORANDUM AVAILABLE UPON REQUEST.
Fully Leased offering a $95,421pa Gross Yield on a 405m2 block approx 650m from the local train station.
Introducing a compelling investment prospect in Deagon, this rooming house on a 405m² block is approximately 650m from the local train station, highlighting its appeal due to exceptional accessibility and growth prospects. The transformation from a traditional residence to a multi-occupancy dwelling showcases a strategic move into the profitable rooming house market, catering to the rising demand for quality rental options in the area.
Currently offering a gross rental yield of $95,421 per annum with operating expenses around $27,658, this property presents net yield of $67,763, reflecting a sound investment in a competitive segment. Its location in Deagon, coupled with a thoughtful conversion, positions it well within the rental market, appealing to a diverse tenant base.
The appeal of Deagon as a suburb is subtly enhanced by its connectivity to Brisbane CBD and local amenities, reinforcing the property’s potential for capital growth. The steady demand for rental accommodation in the area suggests a promising outlook for future valuation increases.
This rooming house represents a balanced investment choice, offering steady income potential and growth prospects. The property’s full occupancy reflects its desirability, underpinned by a low-maintenance operational model, making it a practical addition to an investor's portfolio looking for reliable returns and capital appreciation opportunities.

Property Details for 15 Norman St, Deagon

15 Norman St, Deagon is a 5 bedroom, 5 bathroom BlockOfUnits with 2 parking spaces. The place is currently for sale with Real Specialists Head Office.

Building Type
BlockOfUnits

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About Deagon 4017

The size of Deagon is approximately 3 square kilometres. It has 13 parks covering nearly 24.1% of total area. The population of Deagon in 2011 was 3,459 people. By 2016 the population was 3,661 showing a population growth of 5.8% in the area during that time. The predominant age group in Deagon is 40-49 years. Households in Deagon are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Deagon work in a professional occupation. In 2011, 64.3% of the homes in Deagon were owner-occupied compared with 63.1% in 2016.

Deagon has 1,868 properties. Over the last 5 years, Houses in Deagon have seen a 81.82% increase in median value, while Units have seen a 36.94% increase. As at 31 October 2024:

  • The median value for Houses in Deagon is $849,824 while the median value for Units is $404,994.
  • Houses have a median rent of $600 while Units have a median rent of $385.
There are currently 17 properties listed for sale, and 4 properties listed for rent in Deagon on OnTheHouse. According to CoreLogic's data, 78 properties were sold in the past 12 months in Deagon.

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Brendan Gibb
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Real Specialists Head Office
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