This is a 2 bed 2 bath, 103 sq.m duplex, with a small garden, situated in an older, well-run complex with a pool. Good location with a high rental demand. The property was in a very good condition when it was bought. The investor spent R5,000 on painting the unit and establishing a lovely garden with a pond and stepping stones. A tenant was found within one week of the upgrade having been completed. The property was bought for a gross discount of R184,000 and had an initial net yield of 11%.
This property was bought for R184,000 less than its market value,
and was tenanted within a week of its upgrade
Use the map to get an idea of the area. For security purposes we have not identified the actual property on the map.
|Total capital investment||R416 000|
|Market value||R600 000
|Gross discount||R184 000|
|Gross monthly rental||R5 000|
|Monthly operating expenses||R1 050|
|Net monthly rental||R3 950|
|Initial net yield||11%|