Taking the first step on the real estate investment ladder is an ambition of many but finding an ideal property for a rookie can be daunting.
Finding an affordable asset with a healthy rental return might seem impossible, especially after a period of exceptional price growth.
But there are some homes up for grabs right now that tick both those boxes.
Of course, what makes an ‘ideal’ investment depends on a range of factors, sound due diligence, an assessment of one’s personal circumstances, and expert advice.
However, these six properties are an indication of what’s possible in the current market.
Hot property in hipster’s paradise
Set in the heart of Brisbane’s uber cool Fortitude Valley, literally steps to countless coffee shops, bars, restaurants, and night clubs, is this two-bedroom, two-bathroom unit.
The unit in the heart of the Valley is modern and sleek. Picture: realestate.com.au/buy
Located within the award-winning Miro complex, 202/41 Robertson Street is a loft-style pad with an architectural void and an abundance of natural light.
The color palette is chic, including the striking blue kitchen island.
The loft-style home has two bedrooms. Picture: realestate.com.au/buy
A front balcony has designer shutters to add privacy when needed while allowing cool breezes to flow through.
The second bedroom has a study nook for working from home.
The trendy complex won accolades when constructed. Picture: realestate.com.au/buy
With a guide price of $550,000-plus and a current rental return of $700 per week, the unit delivers a possible gross rental yield of 6.6%.
Turn-key investment by the sea
This near-new townhouse boasts sweeping ocean views and plenty of room, all a stone’s throw from the heart of Coffs Harbour.
Ocean views at this price are almost unheard of. Picture: realestate.com.au/buy
Set within the prestigious Summit complex, 9 Dress Circle is a three-bedroom, two-bathroom home that offers premium living without the maintenance.
It’s generously proportioned and comes with a host of high-end features, from ducted air-conditioning to a home office.
The home’s proportions are very generous. Picture: realestate.com.au/buy
The kitchen has stone benchtops and a walk-in pantry and leads to the open plan living and dining room, which takes in the spectacular vista.
It leads through to a covered balcony looking out over Park Beach and the Coffs Jetty.
Based on the $889,000 guide price and the current weekly rent of $720, the property has a potential gross yield of 4.2%.
Sunny, spacious and delightful
On one of the best streets in popular Windsor in Melbourne’s inner-city is this picture perfect two-bedroom unit.
The Windsor apartment is bathed in natural light. Picture: realestate.com.au/buy
Boasting ultimate privacy and peace thanks to its location at the rear of a small block, 11/32 The Avenue also has a lovely leafy outlook and is bathed in natural light.
The open plan living room leads to a balcony, and is adjacent to the tidy kitchen that’s big enough for a dining table.
The home features two good-sized bedrooms. Picture: realestate.com.au/buy
Each bedroom is well proportioned and comes with built-in wardrobes.
It’s a short walk from the Windsor end of Chapel Street and comes with a secure car park.
While this home has not received a rental appraisal, indicative weekly prices in the area for a comparable property are about $500 to $530.
Based on that and the price guide, this apartment could deliver a gross yield in the vicinity of 5.2%.
Exceptional return in diverse mining town
Many mining towns don’t have a great deal else going on, but Geraldton in Western Australia isn’t one of those. As well as a booming local economy, it has a bustling population of 40,000, a coastal locale, and plenty of tourist visitors.
This modern unit is in a very well-maintained complex. Picture: realestate.com.au/buy
Currently on the market is 14/1 Museum Place – a three-bedroom, two-bathroom, fully furnished apartment in the managed Mantra complex that its agent rightly describes as “hassle free”.
Everything is covered by the agreement with Manta – council rates, strata levies, water and sewerage, and management fees.
The net return is eye-watering. Picture: realestate.com.au/buy
Last financial year, the well-looked after property delivered a net return of $27,000. That’s net. And the current lease runs through to August 2023, with a five-year option.
The unit is modern but low-maintenance, and the complex features a pool, barbeque area, and spa.
The guide price is $445,000.
Tropical living in the Top End
Nestled within a premium complex in a prized part of inner-Darwin, looking out over Doctors Gully, is this two-bedroom, two-bathroom unit.
The apartment is modern and oversized. Picture: realestate.com.au/buy
With a modern design and premium fixtures and fittings, 402a/2 Mauna Loa Street in Larrakeyah is on the market for $560,000.
It features a generously sized open plan living and dining space that flows through to an oversized covered balcony that takes in the spectacular ocean view.
It also boasts a fantastic view of the ocean. Picture: realestate.com.au/buy
A sleek kitchen comes with stone benchtops and plenty of storage, while the main bedroom is ensuite and has a walk-in wardrobe.
As well as enjoying the resort-style facilities of the complex, including a pool, the property is just moments from a host of cafes and restaurants.
It’s currently leased for $650 per week until May next year. Factoring in the guide price, that’s a potential gross yield of 6%.
Modern, elevated and in-demand
Adelaide has been one of Australia’s hottest markets in recent times, in both a buying and a renting sense, and this two-bedroom, two-bathroom apartment is in the heart of the city.
The complex features Adelaide’s first glass bottom pool. Picture: realestate.com.au/buy
Located on the 16thth floor of a modern building, 1604/10 Balfours Way boasts stylish fittings, a gourmet kitchen, light-filled living area, and a huge balcony.
The bedrooms are large and both feature built-ins, while the main suite has its own private double balcony.
Modern and bright, the unit is in a bustling part of the city. Picture: realestate.com.au/buy
Dining, shopping and entertainment amenities are just outside the front door of the building, although its host of high-end resort features – including the city’s first suspended glass bottom pool – might make it hard to ever leave.
The property has a guide price of $655,000 and is currently rented for $2838 per month. That equates to a potential gross yield of 5.19%.