24 Walker Street, Turrella
SydNest Score: 2.5/5
Location 3 | Price 2 | Condition 2 | Amenities 2 | Neighbourhood 3
This four-bedroom duplex in Turrella offers what looks to be a well-built living space with easy access to public transport and local amenities. The dwelling is ripe for renovation, in my view.
Ideal for households with incomes from $235,000 to $350,000
The sales agent has not listed a guide, but made the listing appear above a search of $1.85 million, so I expect that to be the lower end of the guide.
Last sold 2014 for $913,000 and the valuation model suggests $1.84 million, with a maximum of $2.1 million. In my opinion, the vendor would be getting a 7.3% average price increase if it were sold for $1.85 million; considering the average annual price gain in Sydney to be around 6% per annum and the work that needs to be carried out to the dwelling, I see better value elsewhere in the area.
At $1.85 million, a 20% deposit (at least $463,000 including stamp duty) could be affordable for those with household income of at least $285,000, probably down to $235,000 if it’s an investment.
If you have a 5% deposit (at least $185,000 including stamp duty), this unit could be attainable with household income of at least $350,000, probably down to $295,000 if it’s an investment.
Of course, these estimates are subject to so many things, which you can read about in my disclaimer.
What I love about Turrella
Close to public transport for easy commuting. It has its own station and is two stops from the Airport and a 20 minute trip into the city
Quiet, residential neighborhood with a community atmosphere.
Nearby parks and green spaces for outdoor activities.
Close to shops, cafes, and essential services.
Here's what the duplex offers
Three bedrooms with built-in wardrobes.
Two modern bathrooms.
Contemporary kitchen.
Open-plan living and dining areas.
Spacious backyard with garden and patio area.
Secure parking for two cars.
Keep in mind ongoing costs:
Council rates: Ask the agent
Water rates: Ask the agent
Rental potential: Valuation models are not accurate for this listing, but I assumed $1200 per week in my calculations. Vacancy rates and property management fees should be considered when evaluating potential investment income.
If you like it
Good luck with the inspection, this Saturday at 1.45pm. Visit my website if you would like me to arrange your finance.