Suited to a buyer seeking a set and forget investment that is easy to rent and provides a gross yield in excess of 6%, this modern two storey duplex is a cash cow investment and offers two separately rented tenancies.

Still sparkling like new, the property is on its own block of land (freehold), opposite parkland and doesn’t have any costly body corporate fees payable.

HOW DO THE TENANCIES WORK?
The property has a two street frontage. Tenancy 1 is known as 6 Nightcap Lane, Fitzgibbon and comprises a two-storey floorplan with 3 bedrooms and 2.5 bathrooms. This tenancy includes a spacious living/dining area on the ground level and a well-appointed kitchen with gas cook top, dishwasher and integrated microwave. This tenancy provides a tandem carport that can accommodate two vehicles. Tenancy 1 has a lease in place until April 2023.

Tenancy 2 is known as 34 Warrumbungle Parade, Fitzgibbon and comprises a lowset studio that includes a living/dining, bedroom, bathroom and well-appointed kitchen. Tenancy 2 has a lease in place until 11 November 2023.

Both tenancies present to a modern standard and have 2.74m ceilings on the ground level.

WOW LOOK AT THE INCOME!
The property is currently under the NRAS scheme which expires in December 2023. Under the current scheme, Tenancy 1 rents for $308 per week and Tenancy 2 rents for $183 per week. In addition to these weekly rents, the property receives $22,337.12 per annum in NRAS payments ($423 per week equivalent). The total annual rent return is $25,532, plus $22,337.12 in NRAS payments (Total – $47,869.12 per annum approx.).

Once NRAS expires in December 2023, the approximate market rent for Tenancy 1 is $480 per week and $280 for Tenancy 2. Total combined rent market rent would be approximately $760 per week ($39,520 per annum), providing an exceptional return for investors.

CAN I MOVE INTO THE PROPERTY AND OCCUPY WITH DUAL LIVING?
Yes, the property would be perfect for a buyer looking for dual living. You will be able to occupy 1 or both tenancies at the end of the NRAS scheme in December 2023.

WHAT ABOUT THE LOCATION?
The property’s chic modern design is complemented by its coveted location, which is a short drive from Bracken Ridge Plaza (Coles) and Taigum Shopping Centre (Coles & Aldi) and is walking distance to the Carseldine train station. Positioned within the tightly held enclave of Fitzgibbon Chase, the location is within approximately 14km of CBD, a short drive from Westfield Chermside Shopping Centre and provides easy access to the Brisbane Airport, Sunshine Coast and Gold Coast. Being a family friendly location, there are a variety of excellent public and private schools within a convenient distance and the new Holy Spirit Catholic High School just completed close by, which will further amplify demand within this high growth pocket. Additionally, the retail development known as the ‘Nest’ is around the corner (walking distance) and provides a coffee shop, restaurants, childcare and retail specialty stores.

Quick Facts:
Current Rent: $25,532 per annum plus NRAS Payment of $22,337.12 per annum
NRAS: Scheme expires in December 2023
Market Rents Once NRAS Expires (approx.): Tenancy 1 – $480 per week, Tenancy 2 – $280 per week
Quarterly Rates: $500 Approx.
Quarterly Water and Sewerage: $400 Approx.
Year Built: 2012
Builder: Ausbuild
School Catchments: Taigum State School, Aspley State High School