48 Esplanade St, Eidsvold.
48 Esplanade St, Eidsvold. Contributed

Where you can buy a house for $50,000

FEEL like you'll never be able to afford a house?

Maybe you need to look to the small North Burnett town of Eidsvold, where you could buy a three-bedroom hardwood house for $50,000.

You'd easily pay six times that much for a two-bedroom unit in Brisbane, and Karen Ruthenberg from Ray White Mundubbera says Eidsvold has everything a new home owner could want.

"It's a nice quiet country town, mainly surrounded by cattle properties," she said.

"We have a hospital, medical centre, cafes and food store."

As for the properties themselves, Ms Ruthenberg said while they needed a bit of TLC, they would suit first home buyers perfectly.

"They're good hardwood homes," she said.

"Parkside Sawmill has closed down, so it's a disposal of the houses they had for their workers."

"For that price, there will be things to do to them.

"They need some maintenance and they'll both need an external paint job."

Ms Ruthenberg said one of the houses, 48 Esplanade St, was tenanted and currently returning $165 per week.

"48 Esplanade St is a good sized home, but it needs more maintenance than the others," she said.

The other house, 50 Esplanade St, was the same size and not currently tenanted; just waiting for a new owner to move in, Ms Ruthenberg said.

Another great investment opportunity lies in 21 and 23 Golden Spur St, she said.

"We have another two houses on the one title for $120,000; that's for both of them," Ms Ruthenberg said.

Both of those houses are currently tenanted, return $360 per week.

One has four bedrooms and the other has three.

 

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