This property is located in a quiet part of Bulleen, which is approximately 14km north east of Melbourne’s CBD. It is a peaceful and quiet residential suburb.
What I like about this property and suburb:
- Strategically located just north of the Eastern Freeway via Bulleen road, this property is secluded and yet merely 20 minutes to the city by car. It is also a short drive from Doncaster’s retail and commercial centre via Manningham road.
- The backyard has a favourable north east aspect.
- Living areas are spacious with open concept kitchen and dining flowing onto the verandah.
Drawbacks:
- This property is one of two properties sub-divided from a single piece of land holding.
- Master bedroom does not have an ensuite and shares a common bathroom and single wash basin. The powder room does not have a wash basin for guests although this can be rectified by possibly extending and renovating this room.
The council and water rates for this property are $900 per annum and $130 per annum respectively.
Last words
Great residential location with easy access to the city, east and north west Melbourne. Great buy at around mid $500k’s.
Vital statistics ~ Bulleen, Melbourne Median house price $640,000 Average annual growth 13.1% 5-year growth 56% Weekly median advertised rent $380 Gross yield 3.1% Source: Your Investment Property, April 2009 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ How it’s calculated: Median price: Median price for the 12 months to December 2008 Average annual growth: Average percentage change over the past 10 years as a per annum figure 5-year growth: Median price percentage change over the past 5 years to December 2008 Weekly median advertised rent: Median price of rental listings for the 12 months to December 2008 Gross yield: Estimated rental return, based on advertised rent to median price
