Returning an incredible 10.3% gross, this sunny, 82 sqm NRAS approved unit is just four years old and has always been fully tenanted. Finished to a high standard, both bedrooms have built in frosted glass door robes and the modern kitchen has stainless appliances.

OFFERS OVER $199,000

Located in a quality complex comprising both owner/occupier and rented units - it has a carport and a small, easy care grassed yard.

16 kms from the Hobart CBD (approx. 15 mins by car outside peak hour) and located on bus route, it is well serviced with 3 supermarkets, medical surgeries, dentist, chemists, restaurants, 4 schools, service stations etc within 5 mins drive.

Its best feature is the TAX FREE government grants of over $10,300 p.a. which will be paid to the owner for the next five and a half years under the National Rental Affordability Scheme (NRAS) . When added to the normal rental income, it generates $20,500 p.a. (equivalent to $394 p.w.).

Not only will this unit produce a real cash profit under almost any borrowing scenario - it can still be negatively geared for tax purposes as all normal property tax deductions apply - on top of the annual Tax Free NRAS payments.

• 8.01% NET RETURN (mostly tax free)

• $57,000 in Tax Free government NRAS payments to owner (spread over 5.5 yrs)

• Gross Income $20,500 p.a.

• Real cash profit regardless of borrowings

• Can pay itself off in 10 years *

More than $111,000 less than last unit sold in complex, this is a real "cheapest house in the street" opportunity - the last sales in the complex were $314,000, $310,000 and $259,000.

A truly 'set and forget' almost tax free money machine.

* For example, if a person on average full time earnings paid a 20% deposit - the income provided by the tenant, the ATO and the government would enable you to pay off the remaining 80% of unit cost over 10 years

Disclaimer:

Whilst every care has been taken to verify the accuracy of the details in this advertisement, For Sale By Owner (forsalebyowner.com.au Pty Ltd) cannot guarantee its correctness. Prospective buyers or tenants need to take such action as is necessary, to satisfy themselves of any pertinent matters.