33 Morton St, Parramatta

domain property details: 3 bedrooms, 2 bathrooms, 1 parking.

auction date: 21/3/2015

key selling points: 458 sq2, polished wooden floorboards

key drawbacks: timber house, house walls needs renovation, flat land

rental potential: $500 per week

my sale expectations: 800 – 900k

the auction included three parties, bids (k) identified by font:

1. 800 1st party starting price
2. 850 2nd party
3. 860
4. 870
5. 880
6. 900
7. 910
8. 915 5k increase (slowing)
9. 920
10. 925
11. 930
12. 935 3rd party
13. 940
14. 955
15. 965
16. 970 
17. 980 10k increase (capping)
18. 983 3k increase (slowing)
19. 985 
20. 990
21. 995
22. 997
23. 998
24. 990
25. 995
26. 1 mil 5000

sold price: AUD $1,005,000

yield on sales price: (500×52/1,005,000) 2.6%

comments: three parties, higher starting bid than expected, 70 people at auction.

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