14 Mccrae Street Maddingley VIC 3340
2012 2-storey Townhouse Crowdfund-ready Property14 Mccrae Street, Maddingley
It has 4 Bedrooms, 2 Bathrooms, Lounge, Kitchen/meals, Parents retreat, Powder room, Laundry, Courtyard and Garage under main roof line for 1 vehicle.
It's located on the east side of McCrae Street within Maddingley, the southern urban area of the Bacchus Marsh township. Surrounding properties are utilised predominantly for residential purposes.
The commercial centre of Bacchus Marsh is about 1 kilometre to the north. A well-established residential neighbourhood, comprising predominantly older period style houses of an overall similar appeal.
Good proximity to local shops, Werribee River and Bacchus Marsh Grammar School.
Bacchus Marsh is one of Victoria's older towns and, as such, it retains a number of historically significant buildings. Located on the edge of a scenic and fertile valley, it is surrounded by hills and situated by the Werribee and Lerderderg Rivers at an elevation of 105 metres.
Bacchus Marsh is 55 km north-west of Melbourne en route to Ballarat via the Western Freeway.
The town supports a range of manufacturing industries while the surrounding area is given over to dairying, mixed farming, grazing and orchards. There is an open-cut coal mine on the southern outskirts. Bacchus Marsh is also a commuter satellite of Melbourne and has a current population of some 13,500 people.
The investment case for Geraldton
We believe that there is a strong investment case for this property in the Victorian suburb of Maddingley.
This is underpinned by three main factors:
• Maddingley continues to enjoy growth in housing prices over the past 10-years of 4.70% (as at Sept 2016)
• Maddingley has one of Australia's lowest vacancy rates of 0.9% (as at Sept 2016)
• Maddingley adjoins Bacchus Marsh and is on the growth corridor from Melbourne. Melbourne's western region is one of the fastest growing in Australia. The area covered by the West Growth Corridor Plan will eventually accommodate a population of 377,000 or more people and have the capacity to accommodate at least 164,000 jobs. https://vpa.vic.gov.au/wp-content/uploads/2012/11/GCP-Chapter-4-West-Corridor-Plan.pdf
Investing in Real Estate
Situated halfway between Melbourne and Ballarat, Bacchus Marsh is a lovely country town with a greater population of 17,000. A high number of residents choose to commute to either Ballarat or Melbourne for work. Along the Western Freeway, this is a forty-five-minute drive. From Bacchus Marsh Station, it is a thirty-five-minute trip via a V/Line train service.
Bacchus Marsh is a rural centre and regional locality in Victoria, located approximately 65 kilometres north west of the state capital Melbourne and 15 kilometres west of Melton at a near equidistance to the major cities of Melbourne, Ballarat and Geelong.
The estimated population of Bacchus Marsh urban area was 19,934 at June 2015. The State Suburb by the same name is home to 5,760 people and contains the central business district. Bacchus Marsh is the largest rural area in the local government area of Shire of Moorabool.
Traditionally a market garden area, producing a large amount of the region's fruits and vegetables in recent decades it has transformed into the main commuter town on the Melbourne-Ballarat corridor with its affordable starter homes proving popular.
Bacchus Marsh's population is dominated by established, maturing and older families.
New homes dominate Bacchus Marsh's housing stock.
Maddingley is serviced by the Bacchus Marsh Railway Station.
Based on the last 10 years of available information, investors can expect this property to continue showing high annual growth together with steady rental income with a low vacancy rate.
Annual water rates $852
Annual council rates $1,835
Rent per week $350
Management fee 7.7% incl of GST charged by property management agency
Gross annual return $350 pw x 52 wks = $18,200 / $420,000 x 100 = 4.33%
An attractive place to live
Bacchus Marsh is an urban centre located approximately 50km north-west of Melbourne's Central Business District (CBD). Bacchus Marsh is the largest urban area in the local government area of Shire of Moorabool.
In recent decades, Bacchus Marsh has transformed into the main commuter town on the Melbourne-Ballarat corridor with its affordable starter homes proving popular.
The nature and size of the local population, both now and in the future, is a key driver of property demand. 5,760 is the total population.
Industry of employment
Top occupation is professionals. 2,406 are employed. Household income per week is $972.
Proportion of residents
Median age is 41. 1,571 families live in Bacchus Marsh.
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Real Estate For Sale in Maddingley, VIC 3340 priced between $290,000 and $550,000