19-25 Federal StreetRainbow VIC 3424
Property Details for 19-25 Federal St, Rainbow
Last Listing description (June 2024)
Originally there were 4 separate shops but over time 3 of them have been opened up. The shops are zoned Township but don't currently have any services connected. These shops are on 1 title which is just over 20m wide and approx 50m deep with side lane access. The shops need some work to the roof and the timber floors to bring them back to their former glory but they are in the heart of the main street of Rainbow. 1 of the shops is rented month by month but the building is being sold with vacant possession. The council rates are approx $550pa for the whole building.
PLEASE NOTE there is no bathroom in the property.
Property History for 19-25 Federal St, Rainbow, VIC 3424
- 12 Jun 2024Sold for $120,000
- 27 May 2024Listed for Sale Not Disclosed
- 05 May 2015Sold for $34,000
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About Rainbow 3424
The size of Rainbow is approximately 890.7 square kilometres. It has 5 parks covering nearly 8.9% of total area. The population of Rainbow in 2011 was 735 people. By 2016 the population was 688 showing a population decline of 6.4% in the area during that time. The predominant age group in Rainbow is 60-69 years. Households in Rainbow are primarily childless couples and are likely to be repaying under $300 per month on mortgage repayments. In general, people in Rainbow work in a managers occupation. In 2011, 79.4% of the homes in Rainbow were owner-occupied compared with 82.2% in 2016.
Rainbow has 600 properties. Over the last 5 years, Houses in Rainbow have seen a 82.86% increase in median value, while Units have seen a 79.10% increase. As at 31 October 2024:
- The median value for Houses in Rainbow is $214,603 while the median value for Units is $204,961.
- Units have a median rent of $115.
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