http://photos.harcourts.com.au/005/962/016-SME635-Mann-Drive-Brompton-Beachside-Western-Adelaide-City-South-Australia-Australia.jpg
Advertised for sale in the Weekly Messenger 27/1/2010 at around $480,000 per each:
- numbers 9,11 and 13 Mann Drive Brompton. The site is now empty apart from the advertising hoarding:
By my calculations this translates to a rental of about $900 PW.
If the total household income at number 9 Mann Drive were to be $270,000 or so, this might be “affordable housing” for the occupants.
Notes:
# assume rental return at 10% capital value, full time average weekly wage at 1,200 and three wage earners as tenants.
# The redevelopment will continue across second street towards the Brompton Park Hotel (just visible here center left, across the vacant block where once stood Grumpy Mill’s house.)
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