Property Details for 251 Reserve Rd, Cranley
Last Listing description (August 2023)
Those looking for a large investment home situated in a beautiful area will find this property as the perfect option. A modern design has been combined with large spacious areas to create an extremely inviting and impressive home. The property is positioned in Cranley, a beautiful, quiet suburb of Toowoomba that is 6km from the Toowoomba CBD. Residents of Cranley are exposed to the lovely natural environment while being within close proximity of Queensland's largest inland City, Toowoomba. Those looking to explore Toowoomba will become familiar with the growing urban coffee culture and the street art scene. Toowoomba is also known as the Garden City, as the area is home to hundreds of parks and gardens the each possess stunning scenery.
The property is within close distance of the Grand Central Shopping Centre and numerous other shopping options in Toowoomba. There are numerous world class schooling options available in the area, including Toowoomba Grammar. The highly regarded Toowoomba hospital is also less than 15 minutes from Cranley.
Build Details:
Build Price: $571,949
Total build features: 4 beds, 2 baths, 2 cars
Rental estimate: see letter: $500 to $550 per week income
Estimated Rental Yield on Investment: 3.34%-3.67%
Inclusions: Full list attached
Land Details:
Land Size: 619m2
Land Price: $207,500
Land Registration: November 2022
Fixed Price - Turn-key contract:
Two contract purchase - Land contract plus HIA Building contract.
Expression of Interest (EOI) to hold - $1000 fully refundable deposit.
Land settlement 35 days from date of contract or 14 days from the registration of title (November 2022)
5% deposit paid on unconditional for Building Contract - progressive drawdowns on the HIA build contract.
Property History for 251 Reserve Rd, Cranley, QLD 4350
- 13 Apr 2022Listed for Sale $779,449
- 21 Feb 2022Listed for Sale From $740 408
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0About Cranley 4350
The size of Cranley is approximately 10.3 square kilometres. It has 3 parks covering nearly 0.1% of total area. The population of Cranley in 2011 was 851 people. By 2016 the population was 1,444 showing a population growth of 69.7% in the area during that time. The predominant age group in Cranley is 70-79 years. Households in Cranley are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Cranley work in a trades occupation. In 2011, 77.2% of the homes in Cranley were owner-occupied compared with 66.4% in 2016.
Cranley has 862 properties. Over the last 5 years, Houses in Cranley have seen a 84.52% increase in median value, while Units have seen a 93.81% increase. As at 31 October 2024:
- The median value for Houses in Cranley is $643,119 while the median value for Units is $520,101.
- Houses have a median rent of $550 while Units have a median rent of $450.
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