We project managed and successfully delivered a brand new 4-bedroom house in NSW on behalf of an investor client. This included sourcing a builder, managing tenders, and assisting with the design and layout of the house to maximise tenant and owner-occupier appeal without overcapitalising.

The project was challenging due to many moving parts, including council approvals, the removal of an old shed, and the building of a new shed, all while a tenant was living in the existing house on an adjacent battleaxe lot. Despite these challenges and delays due to COVID lockdowns and wet weather, we kept the project moving and delivered an excellent result for our client.

• Purchase price: Total $491,000

• Land: $120,000 (purchased in 2009)

• Build cost: $371,000 (2022)

• Property: Single-level house with 4 Bedrooms, 2 bathrooms & Double lock-up garage

• Location: Colo Vale, New South Wales

• Suburb Median Price: $842,500 (Aug 2023)

• Vacancy Rate: 2.1%

• Current estimated value: $825,000

• Rented: $660 per week

• Gross yield: 7%