For Sale

Purchase your tropical holiday home for just $75,000

For Sale by owner twelve Individual Lots on SP208891 County: Cardwell Parish: Ellerbeck - $75,000 each

  • Date Listed: 08/05/2019
  • For Sale By: Owner
  • Dwelling Type: Studio Cabin with open plan living
  • Number of Bathrooms: 1 Bathroom
  • Size (sqm): 54
  • Parking: Street
  • Up market studio apartments / free standing single unit dwellings /cabins with individual ownership of property (on separate land title) in a community title scheme (ie body corporate).
  • There are 12 units within this complex under Qld Community Title Scheme # 40524 "Lake Vue Cabins".
  • Ownership entitles holder to vote on Body Corporate matters and stand for office.
  • Body Corporate fees of $1,500 p/a apply which covers building and public liability insurance, as well as grounds maintenance.
  • Cassowary Coast Regional Council rates of $2,400 p/a includes water and garbage collection.

Located at Port Hinchinbrook North Queensland half way between Cairns and Townsville, this area presents one of Australia's idealic spots in and around Australia's largest National Park Island (Hinchinbrook Island) within the Great Barrier Reef Marine Park.

For the keen fisherman, you can fish directly from your back deck. There is private parking and room for your car and boat. Fantastic weather conditions all year round (with an occasional cyclone) but these cabins are structurally sound for the tropical environment.

Nicely appointed units (under the overseeing eye of the late Keith Williams) these units represent excellent value for money either as a primary place of residence, a winter retreat from the colder months down South, or as an investment proposition in a managed rental.

Vendor is offering free legal services for conveyancing to transfer title into your name.

Calculate the Return On Investment of Property

  • Step #1 – How Much Cash Are You Putting into The Deal. $75,000
  • Step #2 – Calculate Your Expected Investment Income. $200 p/w x 52 = $10,400
  • Step #3 – Calculate Your Expected Expenses. Rates $2,400 + body corp insurance $1,500 = $3,900
  • Step #4 – Minus Expenses from Income, $10,400 - $3,900 = $6,500
  • Step #5 – Divide Your Excess Cash By Your Investment Capital (Cash on Cash Return)... $6,500 ÷ $75,000 x 100 = 8.6%

Positive cash flow, even with bank finance of $50,000 @ 4% interest (principal & interest over 10 years) = you should repay around $506 per month

Assuming your interest rate stay at 4% the total you'll repay over full term including mortgage debt, $50,000 + total interest $10,736 = $60,736

Plus these units are exceptional value at the moment selling well below cost, so expect large capital gains in the coming years.

For more information contact Andrew du Boulay on (07) 3040 1440 or to arrange an inspection call Robert Bisetto on 0488 352 211