Karen Baldwin – Happy Valley, SA

Property Development Graduate


Karen found this property through her letter-writing campaign. The owners were a young couple who had purchased the property in 2015 for $340,000. They secured a DA to build 3 x 3 townhouses on the land. They started marketing the townhouses in 2017, but their marriage fell apart at that time. Karen was able to apply for an extension on the lapsed DA, and through dipping into her cash reserve funds, she was able to complete the developments. After the resale, Karen was able to make a profit of $194,500.


The Numbers

These cost include estimated cost of development and estimated profits.

Expenses Cost
Purchase price $395,000
Purchase costs $19,500
Development costs $40,000
Demolition $14,000
Build costs $510,000
Holding costs $2,500
Selling costs $25,500
Finance costs $44,500
Total cost $1,050,500
Resale (3 x $415,000) $1,245,000
Profit $194,500
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