Noordhang, Johannesburg
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%.
78 Sq.m.
2 Beds
2 Baths
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.
The Numbers
| 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% |
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