This beautifully renovated three-bedroom, two-bathroom home is packed with unique features that truly need to be seen to be appreciated!  Tastefully decorated throughout, boasting a new kitchen, new floor coverings plus extensive upgrades to the plumbing to the wiring, ensuring a modern and hassle free living experience.

Warmth and cosiness are at your fingertips with multiple heating options, including a freestanding log fire, floor heat pump, and heat vent from the lounge.  Mostly double glazed with acrylic double glazing, insulated top and bottom including some walls, and a sunny conservatory conveniently located off the lounge.

Builders Report

As discussed on the phone I was to have a look through Kitchener Street property to check for any structural issues.

Exterior: 

Concrete ring foundation was level and true with no slumping seen. There is a crack in the foundation as per my photo but to me it looks like where the concrete pour has started and then finished and has been a dry pour and has not bonded fully the foundation is still level and straight in this area.

Put a level on the external corners of the building and all these were level or in the bubble

Jumped up on the roof and the corrugated roofing is in great condition with one hole potentially where a pipe had gone through appears to have a patch under it and no leaks seen at the time. 

Majority of the spouting is plastic marley with one section being old metal spouting and has some rust holes in it. The roof structure from above felt sturdy and true.

Framing viewed from inside the ceiling looked in good condition with mid span struts down onto walls supporting the roof structure. There were not many underpurlins supporting the mid span of the rafters, the rafter span was around 3.5-4m and had struts down on to walls every second or third rafter. 

There were three fairly new beams supporting ceiling joist suggesting some walls at some point have been removed but these appeared to have been done by a competent tradesman.

Space under the floor was tight but I had a look within two – three metres from the manhole and everything viewed appeared to be structurally sound with concrete piles supporting the house. 

The ground was nice and dry, a good sign that there is great ventilation. No damp proof on the ground but underfloor insulation in place.

In my opinion on the day I viewed this house it was in good structural condition.

The Plan – Subdivide, build and sell

Buy the existing property, renovate the existing house, subdivide off the back section and build a 4 bed 2 bath house on the back.  Once completed sell off the existing house and the new house at the front creating an estimated gross profit of $215,000

Thoughts from our builder on a possible renovation plan.

Property purchase – $575,000

Our Project Management Fee – $20,000

Renovation budget – $50,000

Subdivide budget $50,000

Total Initial Investment – $695,000

Stage 2.

Sell the existing house – $575,000

Investment after existing house sale – $120,000

Build a 4 bed 2 bath house on the back section – $335,000

Total Investment including the build – $455,000

On project completion.

Expected sell price for the new house – $670,000

Estimated gross profit for the project – $215,000

We project manage everything for you and will help you sell the house and section on completion.  We have lots of investors looking for sections to build on.

Estimated project completion time – 6 to 9 months