Address
3 Rourke Cove, Somerville, WA 6430
Investment Strategy
Positive Cashflow/High Yield
Development Timeline
Property For Sale
Estimated For Rent
Unfortunately, this property is now listed as Under Offer. You can find more just like it Australia wide at stashproperty.com.au
Rental Insights
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Source: stashproperty.com.au
Investment Stats
2023
6.6
12
About the Property
Somerville Delight with Space for the Entire Family!
In the market for a brick Somerville home which has the extra space and is completely move in ready? Presenting 3 Rourke Cove!
This 3-Bedroom, 2-Bathroom home has been well-maintained and had refurbishments completed since being built in 1997. Offering a front formal Lounge room, in addition to the sizeable Kitchen/Living/Dining space; you’ll see how this one has the extra space you’re after! Outdoor space isn’t scarce either, with a welcoming rear Patio and plenty of yard for the kids to enjoy.
• Three Bedrooms (all w/ WIR’s or BIR’s)
• Two Bathrooms
• Open-Plan Living/Kitchen/Dining Area
• Additional Formal Lounge Area
• Kitchen has Refurbishments Completed
• Laundry with Linen Storage
• Carport
• Sought-After Somerville Location
• Garden Shed for Storage
• 553m2 Block Size
CKB Rates = $2,551.71pa
Water Rates = $274.14
From the domain.com.au listing
Source: stashproperty.com.au
About the Suburb
Somerville, WA 6430 is a suburb with a population of 4165 residents. The age distribution is diverse, with a significant number of residents falling under the 5 to 19 and 20 to 24 age groups. The suburb has a median household income of $2,996 weekly. The top three occupations are Technicians and Trades workers, Professionals, and Managers. Most residents commute by motor vehicle, while a notable portion also works from home.
Somerville presents a good opportunity for property investors and developers. With a median house price below $500,000, a rental yield of 8.5% for houses and 9.8% for units, and a low vacancy rate of 0.3%, it offers strong potential for rental returns. The median growth rate is positive at 6.6% for houses and a remarkable 29.9% for units, indicating a promising investment outlook. The suburb’s market absorption rate is high at 20.0%, suggesting increasing demand and potential for capital growth.
Somerville, WA 6430 is a vibrant suburb with a mix of demographics, offering a comfortable lifestyle for residents. For home buyers, the suburb provides affordability with a median house price and rental prices within reasonable ranges. For investors and developers, Somerville presents a lucrative opportunity with high rental yields, strong growth potential, and a favourable market absorption rate. The suburb’s accessibility and amenities, combined with its growth indicators, make it an attractive location for property investment.
Sources:
– proptechdata.com.au
– Australian Bureau of Statistics (ABS) Census 2021
– Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022
Suburb Median
Market Absorption
Suburb Yield
