552/7 Hirst Street, Arncliffe

SydNest Score: 3.2/5

Location 3 | Price 3 | Condition 3 | Amenities 4 | Neighbourhood 3

This two-bedroom apartment is on the 5th floor. I believe it is 10 years old while north-facing, views and natural light may be built out.

Ideal for households with incomes from $150,000 to $200,000.

The sales agent has not listed any pricing information, but has made it appear in searches above $700,000. I expect that to be the lower end of the guide.

Last sold for $525,000 in 2012 (I suspect this is the first sale) and the desktop valuations suggest around $770,000 today.

At $770,000, If you have a 20% deposit (at least $154,000), this unit could be attainable with household income of at least $170,000, probably down to $150,000 if it’s an investment.

If you have a 5% deposit (at least $39,000 deposit), this unit could be attainable with household income of at least $200,000, probably down to $180,000 if it’s an investment.

Note: Some banks might require a 10% deposit for this property. However, you can contact me at my website if you want to talk more about this.

Of course, these estimates are subject to so many things, which you can read about in my disclaimer.

What I love about Arncliffe:

Convenience:

Budget-Friendly: Housing in Arncliffe is generally cheaper compared to closer-in suburbs, making it attractive for young professionals, families, and first-time buyers.
Superbly Connected: Arncliffe boasts exceptional public transport options. Not only does it have two train stations (Arncliffe and Turrella) on the T4 Eastern Suburbs & Illawarra line, but also Wolli Creek Station on the T8 City Circle line, all within a 15-minute walk from most locations in the suburb. This provides easy access to Sydney's CBD, surrounding areas, and other destinations along the City Circle loop.
Evolving Scene: The suburb is undergoing a revitalisation with new cafes, restaurants, and shops adding a trendy vibe to the area.
Culturally Diverse: Arncliffe boasts a strong Middle Eastern influence, evident in its delicious and affordable restaurants. The suburb fosters a welcoming community spirit.
Green Pockets: Arncliffe might not have vast parks, but it does have Arncliffe Park and Poulton Park, perfect for picnics, walks, or just unwinding outdoors. There are green spaces like Wolli Creek Regional Park and Girraween Picnic Area offering opportunities for walking, picnicking, and enjoying nature. The Cooks River also provides a scenic waterfront element.

Here’s what the apartment offers:

Two bedrooms with built-in wardrobes (one with ensuite)
Combined living and dining area with access to balcony
Separate study nook
Kitchen with stone benchtops and dishwasher
One bathroom, separate laundry with dryer
Secure parking with lift access
Shared common area with landscaping
Walking distance to train stations and close to major roads

Keep in mind ongoing costs:

Strata levies: $2,100 per quarter. This is pretty high and might reflect special levies or repairs. Make sure you ask the agent or get a strata report to find out more.

Council rates: Unknown, ask the agent

Water rates: Unknown, ask the agent

Rental potential: Valuation models suggest a weekly rent of between $740 and $960 per week with medium confidence. 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 10.15am. Visit my website if you would like me to arrange your finance.