AN INCREDIBLE LITTLE MONEY SPINNER (NRAS)
Returning an incredible 10.3% gross, this sunny, 82 sqm NRAS approved unit is just four years old and has always been fully tenanted. Finished to a high standard, both bedrooms have built in frosted glass door robes and the modern kitchen has stainless appliances.
OFFERS OVER $199,000
Located in a quality complex comprising both owner/occupier and rented units - it has a carport and a small, easy care grassed yard.
16 kms from the Hobart CBD (approx. 15 mins by car outside peak hour) and located on bus route, it is well serviced with 3 supermarkets, medical surgeries, dentist, chemists, restaurants, 4 schools, service stations etc within 5 mins drive.
Its best feature is the TAX FREE government grants of over $10,300 p.a. which will be paid to the owner for the next five and a half years under the National Rental Affordability Scheme (NRAS) . When added to the normal rental income, it generates $20,500 p.a. (equivalent to $394 p.w.).
Not only will this unit produce a real cash profit under almost any borrowing scenario - it can still be negatively geared for tax purposes as all normal property tax deductions apply - on top of the annual Tax Free NRAS payments.
8.01% NET RETURN (mostly tax free)
$57,000 in Tax Free government NRAS payments to owner (spread over 5.5 yrs)
Gross Income $20,500 p.a.
Real cash profit regardless of borrowings
Can pay itself off in 10 years *
More than $111,000 less than last unit sold in complex, this is a real "cheapest house in the street" opportunity - the last sales in the complex were $314,000, $310,000...