Location: Close to shops, schools, and main routes—ideal for tenants looking for convenience.
House Condition: The house needs work, but it has a newly done tiled roof, seamless gutters, and aluminum window frames, which can save on future maintenance costs.
Size & Layout:
3 bedrooms
1 bathroom
Lounge
Kitchen
Single garage and carport
Outside room and toilets
Additional Structures: 9 Wendy houses, which could provide significant rental income.
Potential Rental Income:
Main House: With 3 bedrooms, 1 bathroom, and additional features, this could attract a decent rental income, especially with the house in a convenient location. Depending on the condition, rental prices in the area could be estimated.
Wendy Houses: With 9 Wendy houses, each could potentially bring in additional rental income. This will vary based on size, condition, and amenities, but if each one brings in approximately R1,500 to R2,000 per month, the total rental income could reach up to R15,500 per month.
Considerations:
Renovation Costs: Since the house needs work, it's important to factor in the cost of renovations to make the property more appealing to potential tenants. The roof and window upgrades are already in place, but the house itself might need cosmetic upgrades or additional improvements.
Zoning and Legalities: Check local zoning regulations to ensure that you can legally rent out the Wendy houses and possibly expand your rental options.
Investment Potential:
Given the location and the rental potential, this property could be a great investment with a decent return, especially once the house is renovated and the Wendy houses are fully occupied.
The potential for R15,500 per month in rental income is strong, but the condition of the main house and the management of the Wendy houses should be carefully considered to ensure maximum profitability.
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Disclaimer: While every effort will be made to ensure that the information contained within the Koalet Properties website is accurate and up to date, Koalet Properties makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.
Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.
