11 Scott Street
BOUGHT* - $1,500,000
There was a buzz in the air as Antony Woodley took centre stage. Who would have thought that in a crowd of only 60 there would be six bidders! All that was needed was a little bit of encouragement with a vendor bid of $1,100,000 to get things underway. With rises of $25,000, bidders 1 and 2 took the bidding to $1,250,000 before Bidder 3 joined in, followed n...

Crowd Numbers: 60 people
Bidderman: 6 bidders
 

11 Scott Street KEW

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Good rental prospects
Seemingly low additional cash required after purchase
Higher risk as newer precinct

Concerns

Touches other properties
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 11 Scott Street KEW

These sorts of homes we like as investments for super funds/passive investors  (if the price is right).

In a nutshell, they meet the key criteria most people are looking for

1)        Growth proven over a long time frame - eg. when we put up our auction report see how many bidders there are and remember this home is over a century old. So it's unlikely that the demand there today will not be there in 20 years.

2)        Cashflow - is better than most think as these homes rent well, low vacancy periods and despite being timber the maintenance is often not huge (assuming you don't have to renovate or refurbish in a hurry).

3)        Risk - Homes like 11 Scott are lower risk as they are better growth than most apartments, easier to resell in all markets than almost any other home type and rent more consistently that say a commercial property.

For investors 11 Scott comes down to a numbers game and our best guess is the numbers will be a fair bit different from the $1.2M quote currently being put out there - we feel mid $1m's is more in line with what we think it will go for and by the time you do your rental calculations that puts it a little out of range for investors. But not for most homebuyers from first timers, to couples to smaller families, to retirees the 11 Scott package appeals to most demographics and that is the key to growth - long termed sustained demand for today's buy.

This is part of the James Buyer Advocates series on current investment opportunities.


We have looked at a specialist investment at 43 Erin St Richmond

http://www.james.net.au/rating/43-Erin-Street-RICHMOND

A potential development investment at 653 Toorak Road Toorak

http://www.james.net.au/rating/653-Toorak-Road-TOORAK

A passive/super fund investment at 11 Scott Street Kew

http://www.james.net.au/rating/11-Scott-Street-KE

Mal James's Comments on 11 Scott Street KEW

11 Scott has a really good feel about it, first impressions are good. Sitting up on the street gives the home a great street presence accompanied by a period facade.

The floorplan is simple and works. Good bedroom separation with the master up away from other bedrooms and also good bedroom separation from the living zones. The double carport garage off the ROW is the bonus here, being able to park 2 cars off the street is a bonus in itself and even more so when it is undercover. The laneway at the rear is slightly narrow and may not be practical to get cars in and out easily especially if you are coming and going a number of times a day. For this reason you may not use this parking during the day, however the option is there and a great bonus if you are going away.

The laundry felt a little tight which is expected in a single fronted home. One concern buyers may have is the galley style kitchen, while it is a clever use of space it may not be to everyone's liking as it is very much part of the living zone.

This home could appeal to a number of demographics, professional couples, single parent families, adults downsizing now the kids have finished uni and moved out and even young families starting out. This home is a good entry point home into the area, close to all amenities and schools. You would expect to see good interest here come auction day.


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What our clients had to say about James

You have been very busy and somehow managed to stay very professional, giving personal service. Thank you. Dear Gina, It has been fantastic working with you and I am so pleased I will have you on this last leg of my journey into … St. The rest of the James Buyer Advocates team have all been amazing! And of course Mal who steps in when needed and tells it ...more

Kate

BRIGHTON

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4
Bedroom
2
Bathroom
2
Parkings
245sqm
Land Area
Floor Plan Agent

Sold - 12:30 pm Aug 16 2014

Quote $1,100,000 - $1,200,000

West Facing

Full James Rating Sheet

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Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.

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Homes We've Bought

What our clients had to say about James

You have been very busy and somehow managed to stay very professional, giving personal service. Thank you. Dear Gina, It has been fantastic working with you and I am so pleased I will have you on this last leg of my journey into … St. The rest of the James Buyer Advocates team have all been amazing! And of course Mal who steps in when needed and tells it ...more

Kate

BRIGHTON

Read all testimonials