33/400 Ruffles RoadWongawallan QLD 4210
Property Details for 33/400 Ruffles Rd, Wongawallan
33/400 Ruffles Rd, Wongawallan is a 2 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1991. The property has a land size of 280m2 and floor size of 73m2. While the property is not currently for sale or for rent, it was last sold in June 2018.
Last Listing description (November 2014)
Tranquil Home Set in Nature
If you have seen these for sale & sold before, well things have changed and it is even more exciting as these properties are now available to all the public markets, investors, first home buyers, downsizers, retirees, owner occupiers, weekenders, whatever use your heart desires!
Located in Willow Vale, offering investors a very rare POSITIVE GEARED property with secure income source. The property can either be leased out to anyone from the public (as a normal rental property) or you can live in this yourself making this very, very affordable home.
- Sold Fully Furnished
- 2 bedrooms
- Open plan living design
- Split system air-conditioner
- Bathroom with spa bath + separate toilet
- Fully functional kitchen
- Large outdoor balcony
- Water connection available and also has tank water
- Electronic gated estate
- Facilities include swimming pool, tennis court and a gated entry.
- Property will be sold vacant.
Current maintenance:
- Property needs gutters cleaned, gutter guard installed and the water tank cleaned.
- An antenna needs to be installed for digital TV signal. Quoted amount is approx $398.
- Water to connection to the bore bore water. Pipe runs along the rear of the property and just needs a plumber to connect to the house. Quoted cost approx $650.
Want to live in there yourself?
Should you wish to live in there yourself, the only expenses are body corporate fees, council rates and building insurance as below.
Want to rent it out?
Should you wish to rent this property out as as investment, below are the figures for you:
Yearly rental income = $16,380.00 ($315 per week)
LESS yearly expenses:
Body corporate fees = $4,063.40 (Admin Fund $2,772.32 + Sinking Fund $1,291.08)
Council rates = $1,844.60
Building Insurance = $170.49
Rental Management fee = $1,531.53
NETT INCOME approx = $8,769.98
Borrowing funds?
- Current known lenders include: Suncorp, ANZ and Bank of Queensland.
- Due to smaller house/land size, banks will lend 50% of the sale price. Cash or equity in other property will be required for the balance.
- Based on ANZ Interest Only Loan, currently at 5.88% for 30 years, borrowing 50% of sale price which is approx $92,500, loan repayments are = $5,876 per year ($113 per week) leaving a positive cash flow of $2,893.98 in your pocket!
Property History for 33/400 Ruffles Rd, Wongawallan, QLD 4210
- 01 Jun 2018Sold for $225,000
- 13 Mar 2015Sold for $159,000
- 28 Feb 2015Listed for Rent - Price not available
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About Wongawallan 4210
The size of Wongawallan is approximately 32.9 square kilometres. It has 10 parks covering nearly 5.2% of total area. The population of Wongawallan in 2011 was 1,103 people. By 2016 the population was 1,253 showing a population growth of 13.6% in the area during that time. The predominant age group in Wongawallan is 40-49 years. Households in Wongawallan are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Wongawallan work in a professional occupation. In 2011, 84.6% of the homes in Wongawallan were owner-occupied compared with 87.1% in 2016.
Wongawallan has 587 properties. Over the last 5 years, Houses in Wongawallan have seen a 89.05% increase in median value, while Units have seen a 22.97% increase. As at 31 October 2024:
- The median value for Houses in Wongawallan is $1,530,520 while the median value for Units is $628,246.
- Houses have a median rent of $1,473.
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