23 Arthur Street, Ashfield NSW 2131 – Property Report

This is a Property Report for 23 Arthur Street, Ashfield NSW 2131.

* 25 January 2019 – Property Listed for auction on 23rd February 2019

* 12 February 2019 – Property SOLD (Price withheld)

(The price can be withheld from being made public, for a period of time, at the request of the Real Estate Agent or Owner)

Click here for the Realestate.com.au property listing.

In this Property Review I provide a brief summary of the Buying a House Checklist a buyer needs to do before buying. I highlight possible issues for a prospective buyer to consider.

As always, my aim is to give you Expert Advice, So You Buy the Right Property. 


1. Who is the current owner of the property?

Current Owner: Crews

The details of the current owner can be found in the property sales contract. You can get a sales contract from the Real Estate Agent who is selling the property.

You can also do a Property Search using Pricefinder to give you the owner’s name.

2. Property Sale Date – has the Property Sold in the last 3 years?

Pricefinder subscriptionThe current owner purchased the property in June 1999.

Take note of the date of purchase and how long the current owner has owned the property. If the property is being sold within 3 years then it’s a ‘red flag’.

It’s a ‘red flag’ because the cost of purchasing a property is significant. An owner would not sell unless they had good reason to.

3. Who is Living in the Property Now? Owner or Tenant? 

The property is a rental property and tenanted.

An Owner Occupied property is likely to be in better condition than one lived in by tenants. Owner’s tend to look after their place better especially if they want to maximise the sale price.

Tenants are less likely to care how much the owner sells the property for. The biggest concern for a tenant is whether the new owner will move into property.

4. Has the Floorplan Changed? Any New Bedrooms or an Extension?

No, it doesn’t appear the floor plan has changed. 

A property can go through many alterations as the owner’s requirements change. Bedrooms get added, kitchens relocated, living space created at the back of the house.

Any alterations from the original structure is fine as long as it built and designed well. This is not always the case. I have often found building issues where the original and new structure join. Or where rooms have changed their use – like a bedroom becoming a bathroom.

5. Check the Sales History of Surrounding Properties
In this search we are looking for individual properties or groups of properties with higher than average ‘turnover’. So we will search for properties that have been sold twice in the past 3 years.

Properties located on or near a main or arterial road for example might have higher ‘turnover’. These properties will be affected by traffic noise and car pollution. But, a prospective buyer might not be fully aware of this….until they move in.

The Pricefinder search came up with ‘0’ results based on the properties sold in a 150 meter radius and within the last 3 years. 

6. It will be annoying living next to a bad rental property!

Rental properties with a high ‘turnover’ of tenants can indicate the property is poorly maintained. By ‘turnover’, I mean 2-3 new tenants in 5 years.

The issues that cause tenants most concern (which cause them to leave) are mould issues, poor heating & cooling, repairs not approved by the Owner, water leaks, insect infestation etc.

These are not issues that directly impact the property you intend to buy. However, if a neighbouring property has high tenant ‘turnover’, new tenants will be moving in and out all the time. That’s annoying!

Also, if you don’t know who your neighbours are then it can reduce the security of the neighbourhood

I did a search for properties around 23 Arthur Street, Ashfield. I found one block of 5 apartments located nearby where 3 of the units have a high turnover.

The block of apartments is at 31 Arthur Street, Ashfield. It is located 4 houses down from 23 Arthur Street.

1/31 Arthur Street Ashfield – unit was advertised for rent in 2014, 2015 & 2017

3/31 Arthur Street Ashfield – unit was advertised for rent in 2015, 2016, 2017, 2018 (see image below)

4/31 Arthur Street Ashfield -unit was advertised for rent in 2016, 2017, 2018

This is the rental history at 3/31 Arthur Street Ashfield. You will note it has been listed for rent 4 times in the past 5 years

It will be worth checking out the block of apartments at 31 Arthur Street.

With the tenants coming and going regularly, does it cause a problem? Is there trash or dumped furniture on the side walk? Are there lots of the tenant’s cars parked out the front?

If you have concerns, speak to the Real Estate Agent about the apartment block at 31 Arthur Street Ashfield. If this property gets a high turnover of tenants then it could be mean trouble. Then again, it might not, but it’s worth pointing these issues out so you are fully aware of area you are buying into.

7. Check the Owner Occupied to Rental Ratio

The Owner Occupier to rental property ratio indicates the % of owners to renters living in a suburb, a street or an area. It’s important to know who is living around you as this improves your awareness and safety of the area

For an house, you can check the owner occupied to rental ratio by:

1. Suburb

2. Street

3. Neighbours

Search the Owner Occupied to Rental Ratio By Suburb

A review of the suburb at Ashfield NSW 2131, shows there is a balanced proportion of renters 50% to owners 50%.

Owner occupied to rental ratio Ashfield NSW

 

Search the Owner Occupied to Rental Ratio By Street

Arthur Street Ashfield has a slightly higher percentage of Owner Occupied homes 55% compared 45% for tenanted properties.

Owner occupied to rental ratio Arthur Street Ashfield NSW

Remember, it is better to have more Owners living in the area. Owners tend to maintain their properties and will add value through renovations and knock-down-rebuilds.

Below is a comparison of Arthur Street Ashfield compared to neighbouring Streets

Owner occupied to rental ratio by street for Arthur Street Ashfield NSW

Search the Owner Occupied to Renters Ratio by Neighbours

It’s always worthwhile knowing who your neighbours are so check out the spreadsheet below. I have done a search for the nearby properties located at the side, back and opposite.

On either side of 23 Arthur Street, Ashfield there is a mix of owner occupied and rental properties.

8. Check the Council and Planning Regulations

My Property Expert - Order your Full Property ReportKnowing what your neighbours can build and what activities they can operate on their property is just as important as what you can do on own.

Even if you are not intending to build anything, there is vital information in the Council planning reports which you should be informed of before you purchase your property.

The planning rules will tell you what you can build on your land, what the neighbouring properties can build (e.g. a house or high rise), whether you are in a flood/fire zone, the location of your sewer mains, whether you can build a granny flat in your backyard.

There are building planning rules set out by local Council (along with State/Territory). Each Council has a broad set of common planning rules that are adapted to accommodate the local environment.

This check was not completed for this report.

9. Check the Property Attributes

The ‘property attributes’ in a listing will show the number of bedrooms, number of bathrooms, car spots etc.

Number of bedrooms – Cross check the number of bedrooms in the property attributes, the floor plan and Real Estate Agent’s description for the number of bedrooms.

Property attributes for 23 Arthur Street Ashfield
The property attributes appear correct when compared to the floor plan

Sometimes there is a discrepancy in the attributes of the property which results from physical changes in the property (like adding an extra bedroom of bathroom) without updating council records or the state land titles office of the change.

If an extension or addition was built illegally (without Council permission), there could be a discrepancy. It’s a red flag and worth cross checking council records, floor plans etc. Also ask the Real Estate Agent if he or she knows anything.

For the property at 23 Arthur Street, the records show attributes of 3 bedrooms, 1 bathroom and 1 car garage. This appears correct when compared to the floorplan.

10. Check the Listing Suburb

23 Arthur Street Ashfield suburb check

Real Estate Agents will change the suburb on a listing to attract more buyers to view the property.

I have looked up this address using Pricefinder and the suburb is recorded as Mayfield NSW.

11. Check Old Property Listings

By reviewing the old property listings (by Real Estate Agents), this will increase your understanding of how the property has been renovated or altered over the years.

This is done by comparing the sales descriptions and old photos taken when the property was previous sold.

This check was not completed for this report.

12. Compare previous and current floorplans

Check to see if there have been any changes to the floorplan of the property.

In a house look for extensions, particularly at the back. Look for walls that have been removed to create space. Often you will see a kitchen and living space combined to create open plan living.

For units and apartments there are a lot less changes an owner can make to the floorplan. However, over the years I have seen some so keep an eye out. Look for new walls and walls that have been removed. Sometimes the kitchen or laundry is relocated to another part of the unit.

This check was not completed for this report.

13. Check how many Days the Property has been Listed for Sale (Days on Market)

The Days on market indicates the number of days the property has been listed for sale with the particular Real Estate Agent.

When a property takes longer to sell than average then you must do some further investigation as to why?

The longer a property stays on the market, the more suspicious buyers become. Buyers will often suspect there are building or other related issues.

If the property stays on the market too long (versus say the suburb average), then the property becomes “stale”.

Listing Date: 25 January 2019

Days on Market: 13 days (as at 7 February 2019)

23 Arthur Street is going to auction on the 23rd February.

If the property does not sell at auction, start to keep track of the number of days listed and compare it to the suburb average. The suburb average for Ashfield NSW for 3 bedroom house is 56 days.

Days on market for a 3 bed house in Ashfield NSW

14. Check the Shape and Dimensions of the Land

One reason the shape of the land is important is if you have future plans for an addition to the home, a knock down & rebuild, a swimming pool etc.

To design a rectangular shaped house on a rectangular shaped block of land is quite straightforward. However, with an irregular shaped piece of land, it may make it more challenging to design a house to suit the dimensions of the land.

There will be restrictions on the location of the house, the height of the house, where a pool can be located etc.

Should you have concerns about what you can build on the property, speak to Council or a local Town Planner before purchasing the property.

31 Arthur Street Ashfield land dimensions and land shape
Aerial image taken with Nearmap

15. Check the Surrounding Area

23 Arthur Street has a side and rear laneways. The side lane is used by cars to park while the rear lane will mostly be used by occupants to access their garage or car space at the rear of the property.

31 Arthur Street Ashfield aerial image

16. Check Development Applications

Searching through Development Applications will help you locate any building works going on nearby. Then you need to assess if the development application has any impact on the value and enjoyment you have in your home.

This specific search was not completed for this report. 

17. Have you checked for nearby electrical substations, telecommunication towers or green electrical boxes?

In the surrounding area of your target property, find out where the local utilities are located. Look for mobile phone towers, electrical substations and green electricity boxes, which are sometimes called kiosk substations.

Whether you believe there is a health issue living near these utilities, they can be unsightly and may affect the resale value of your property.

I will point out there is a large Green Electrical box located at 21A Arthur Street. It is on the corner of the street and has been fenced off. It is less than 15 meters away from 23 Arthur Street.

Click here to see the location of telecommunications towers and green electrical boxes.

18. Check the condition of the roof

Do a check of the roof as part of your initial checks on a target property. When you get your offer accepted, engage a Building Inspector to conduct a thorough inspection prior to purchase.

If there are clearly different sections of the roof or a combination of roofing material used, this could indicate the property has been extended at some point.

This specific search was not completed for this report. 

19. Check the location of any large trees

Look for any large and mature trees on your property, or the neighbour’s property, that are close to the any structure on your property (such as the house, carport, swimming pool etc).

When trees grow close to the house, it is possible for the roots to spread from the base of the tree, travel under paved and concrete footpaths and disturb the foundations of the house.

If you have concerns about particular trees on the property, contact a local arborist.

A specific search was not completed for this report. 

20. Check the External Walls of the house

Using current and older street photos of the property, you can compare what renovation works the owner has done to the external walls of the house.

A specific search was not completed for this report. 

21. Check the Property Valuation

There are many free and paid resources that will help you estimate the value of the property you intend to purchase. On top of what’s available online to value a property, my advice is to become a Suburb Expert.

A specific search was not completed for this report. 



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