Ormeau is a northern suburb of the Gold Coast positioned midway between Brisbane and Surfers Paradise. Ormeau straddles the M1 Motorway and Pimpama lies on the eastern side of the highway south-east of Ormeau.

The Pimpama River flows beneath the road bridges to eventually reach the waters of Moreton Bay. The area is within 25 minutes of the Gold Coast and Brisbane.

Ormeau Hills is a master planned residential community that offers generous blocks of land enhanced by a backdrop of bushland.

This duplex consists of 3 bedrooms on one side and 2 bedrooms on the other side.

Two tenants with 2 x NRAS payments. The duplex will be delivered to the buyer strata titled (paid by the builder) into two titles.

The NRAS provider is NAHC and rents are discounted by 25%.

Calcs look like this:

Combined market rental expected is $580pw less 25% for NRAS discounting less 10% for property management = $377pw.

$377pw x 52wks = $19,604 per annum net income

$173pw x 52wks = $9,000 per annum in taxation payments no longer being deducted

$9,981 x 2 NRAS payments per annum = $19,962 div 52wks = $383pw

Borrowing 100% of the $650,965 purchase price using Westpac 3-year fixed rate of 5.29% = $34,436 per year or $662pw

End Result:

$19,604 + $9,000 + $19,962 = $48,566 income not including rates, insurance etc

$34,436 loan repayments

$14,130 Surplus per year

Not suitable for SMSF. Each duplex has 1 garage and 1 car space. Full Turnkey.

Lot 522 has land area of 796m2, living area of 272.40m2

Call Robert today on 07 3666 0126 or 0403 577 353 before its too late. For more listings like this one, please visit http://www.nrasforsale.com.au

There are only 2 duplexes available in Ormeau that come with 2 x NRAS payments each and every year for the next 10-years!