35 Somerville Street, Spence ACT 2615

Address:	35 Somerville Street, Spence ACT 2615
Property Type:	House
Block:	3
Section:	1
Single Dwelling Code:	Rz1
Block Size:	934 m2 (approx)
House Size:	180 m² (approx)
Bedrooms:	4
Bathrooms and Ensuites:	2
EER:	1
Unimproved Value:	$350,000 (2019)
Rates:	Approx. $2,496 pa (Assuming residential)
Land Tax:	Approx. $3,379 pa (If rented out)
Marketing Link:	https://www.allhomes.com.au/sale/35-somerville-street-spence-canberra-178047776

Suburb Median House Value (non-unit):	$650,000 (2020)
Suburb Median Rental Value (non-unit):	$525
Rental Vacancy Rate:	0.20%
Census Data:	Link
Highest Sales Price:	$660,000

Block Size:

934m2

Zoning:

RZ1: SUBURBAN

Easements:

Electrical easement rear boundary; stormwater easement rear boundary

Trees that may impact on DA:

Yes

Heritage Zoning:

N/A

Plot Ratio & Private Open Space:

Sufficient plot ratio / private open space sufficient for a small project

Topography of Block

Slight elevation; tiered yard

Price of land per SQM:

$706.65

Purchase Price:	$660,000
Legal, Loan Establishment and Building Report Costs:	$2500
Stamp Duty:	$18,744
Suggested Secondary Residence Design:	https://www.canberragrannyflatbuilders.com.au/design-pages/design-160
Fixed Price Guarantee:	$175,438
Projected Total Investment – Property Purchase and Build:	$856,682
Estimated Rental For The Existing Property:	$550 Per week or $28,600
Estimated Rental Return For The Suggested Design:	$425 per week or $22,100
Estimated Combined Gross Rental Return:	$50,700
Gross % Return Excluding Deprecation:	5.63%

Suggested designs for this property.

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