39 Payne StreetMillbank QLD 4670
Property Details for 39 Payne St, Millbank
39 Payne St, Millbank is a 3 bedroom, 2 bathroom House with 2 parking spaces and was built in 1983. The property has a land size of 1808m2 and floor size of 197m2. While the property is not currently for sale or for rent, it was last sold in March 2022.
Last Listing description (December 2021)
An extensive 1808sqm block, combined with a large Italian-inspired brick home presents so many different opportunities to the home owner & investor.
The foundation & clever design of the residence, lends itself to a creative refurbishment, with potential for a teenage or carer's retreat. The home has three large bedrooms, huge lounge & dining. Built with beautiful hardwood timbers, the floors could be rejuvenated with a sand & polish. The kitchen & bathrooms have a functional layout to remodel & bring to life. Downstairs, there is a huge entertaining space, combined with a separate shower & toilet, adjoining another room, ideal as a bedroom. Any family member could utilise this as there very own space with independent access.
Further, the rear of the block has potential for additional development, whether it be a dual occupancy for an additional residence or go further with a multi-unit proposal (ie 2 x 3 bed duplex arrangement) subject to approval. As an investor, we estimate you could return up to $1220 per week with fixed term tenants across the three dwellings. Based in Millbank so close to Stocklands for all conveniences, this may also appeal to NDIS providers who are looking for suitable accommodation to house participants.
This stands to be a very unique opportunity in a sought after location. In this case, up to you to set the yield which is desirable to you, develop in a way that meets your needs!
Property History for 39 Payne St, Millbank, QLD 4670
- 14 Mar 2022Sold for $550,000
- 08 Oct 2021Listed for Sale $550,000+
- 27 Oct 2016Listed for Rent $350 / week
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About Millbank 4670
The size of Millbank is approximately 3.4 square kilometres. It has 4 parks covering nearly 7.8% of total area. The population of Millbank in 2011 was 2,601 people. By 2016 the population was 2,516 showing a population decline of 3.3% in the area during that time. The predominant age group in Millbank is 60-69 years. Households in Millbank are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Millbank work in a professional occupation. In 2011, 60.4% of the homes in Millbank were owner-occupied compared with 55.7% in 2016.
Millbank has 1,209 properties. Over the last 5 years, Houses in Millbank have seen a 118.49% increase in median value, while Units have seen a 80.01% increase. As at 31 October 2024:
- The median value for Houses in Millbank is $509,231 while the median value for Units is $368,389.
- Houses have a median rent of $500 while Units have a median rent of $355.
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