A recent purchase · Eagleby
How I secured a dual income property in Eagleby for a Sydney based investor, $15,000 under the asking price, at a 5.38% gross yield.
The client, a Sydney based investor with a budget of $1,000,000, came to me with a clear objective. Secure a property with genuine dual income potential, whether through a duplex conversion or the addition of a secondary dwelling. The priority was real, lease ready income from day one, not a project that depended on future works to perform.
In this market a prepared buyer wins, and the opening here was easy to miss. The property was listed on the Tuesday. I started full due diligence the same day and saw the detail that mattered. With ANZAC Day falling on the Saturday, there would be no weekend open. That left a clean window for a buyer who was ready.
So I moved. I arranged a private inspection for 10am on the Thursday, ahead of the first public open that afternoon. We were first through the door, with due diligence already underway and the vendor's position clearly understood. The offer went in on the Friday. The vendor had already committed to a purchase of their own and wanted to move quickly. By the Sunday it was under contract, five days from listing.
What makes this property work is that the income was already in place. The block carries two self contained dwellings on a single title. The second dwelling was completed in 2022, only four years old, and it was already tenanted when we bought it. There is no granny flat to build, no approval to chase and no development risk to carry. From settlement, the two leases combine to $1,020 per week, $500 from the original home and $520 from the newer dwelling, with terms running into 2026 and 2027.
The real work on this purchase happened before I walked through the door, and again once we were under contract. My building and pest contact attended on the Monday morning and the full report was with my client that same afternoon. It flagged two serious but fixable issues with the original dwelling.
Plenty of buyers would have read that as a reason to walk away. I read it as leverage. I used the findings to negotiate $15,000 off the price, from $1,001,500 to $986,500. That single conversation lifted the gross yield to 5.38%.
Speed gets the attention, but it is not the point. The point is preparation. When you understand the market, the property and the vendor's motivations before you walk through the door, you can move with confidence and speed when it counts, and you can hold your nerve when a report comes back with a problem in it.
That is where a good result is actually made. Not in the open home, but in the work that happens before it.
The purchase at a glance
Eagleby
If you're working through an investment purchase of your own, I'd love to help. Reach out any time. I read every message.
Gross yield is calculated on the combined current rent of $1,020 per week and the purchase price of $986,500. Rental figures reflect the leases in place at the time of purchase. Aerial image shows indicative boundaries for illustrative purposes only.