‘Not for the faint-hearted’ fixer-upper is hottest upcoming auction

A fixer-upper with mould, termite damage, broken windows and a significant repair bill is the hottest house set for auction this weekend – and could make $530 a week in rent.

A fixer-upper with mould, termite damage, broken windows and a significant repair bill is the hottest house set for auction this weekend – and could make $530 a week in rent.

Even its agent Ryan Suhle of Ray White North Lakes is making no bones about the state of the three bedroom house which topped PropTrack’s list of the most viewed homes going under the hammer.

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2 Kumbari Street, Bray Park, goes to auction at 5.30pm Saturday June 22.

It definitely needs some work done.

Ryan Suhle of Ray White North Lakes is taking the property to auction this weekend.

“This property is not for the faint-hearted,” is how he describes it. “It’s a genuine renovator’s delight, a diamond in the rough.”

But he said “while it may have termite damage, a couple of broken windows, and needs significant repairs, the possibilities for transformation are endless”.

Mr Suhle said the property must be sold this Saturday so it offered a good chance for the winning bidder to enter “the desirable Bray Park area at a price that reflects its current condition”.

Some of the work has been done stripping the property.

It has three bedrooms.

Located at 2 Kumbari Street, Bray Park, the house is on a 640sq m block with loads of room for extensions, landscaping and rebuilds subject to council approval.

He said the rental appraisal on the home was that it could get $530 to $560 a week unfurnished after complete renovation. PropTrack data shows the median rent in Bray Park sits around $590 a week, leaving much room to move for the new buyer.

The bathroom is functional.

Lovely backyard to chill out in.

SEE THE LATEST PROPTRACK HOME PRICE INDEX

PropTrack market trends show 139 houses have sold in the suburb in the past year at a median price of $700,000. The median price for houses there has grown 4.2 per cent in the past year and a massive 58.9 per cent since just before the pandemic began.

The property is Moreton Bay South which is one of the biggest growth areas in the Greater Brisbane region.

The home will go under the hammer at the Ray White North Lakes office at 5.30pm this Saturday.

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Originally published as ‘Not for the faint-hearted’ fixer-upper is hottest upcoming auction