Disclaimer: Frank provides independent property research only. This report is not financial product advice, investment advice, legal advice, or a certified property valuation. It is a research opinion based on available market data. You should obtain independent financial, legal, and building inspection advice before making any property purchase decision.
Frank Report
12/22 Acacia Court, Bayside
Prepared for: Maya · Frank Essential
EXECUTIVE SUMMARY
Executive summary
Frank's view for Maya: a conditional offer at $785,000, contingent on resolution of the pending special levy, is supported by the analysis. If the vendor will not negotiate the levy, the analysis does not support proceeding.
FRANK'S READ ON YOUR SITUATION
TailoredMaya is a 26-year-old first home buyer with unconditional pre-approval to $850,000 and a plan to live in this property for 5–7 years before potentially converting it to an investment. Her cash buffer post-purchase is moderate. She has no existing property exposure. Her primary concern, as stated in her intake, was hidden costs. Costs that would not be visible from the listing or the agent's disclosure. Frank has approached this analysis with that concern as the central focus. The body corporate situation Frank found is directly responsive to what Maya was worried about. This is not a coincidence. It is what the intake is designed to surface.
PROPERTY OVERVIEW
ObjectiveProperty overview
2 bed / 2 bath / 1 car apartment, top floor of a 12-unit boutique block built 2003. Asking $819,000. Listed 14 days. One previous price reduction from $849,000.
COMPARABLE SALES. METHODOLOGY SHOWN
ObjectiveComparable sales. Methodology shown
| Address | Date | Price | Config | Note |
|---|---|---|---|---|
| 12 Acacia Ct | Feb 2026 | $795,000 | 2/2/1 | Same building, lower floor |
| 8/24 Acacia Ct | Dec 2025 | $812,000 | 2/2/1 | Renovated kitchen |
| 4/30 Birch St | Jan 2026 | $770,000 | 2/2/1 | Adjacent block, no view |
Frank's assessed value range: $780,000 – $810,000. Sources: corelogic settled sales, agent disclosed sales, on-market verified comparables within 400m and 18 months. This is a comparable sales assessment, not a certified valuation.
RISK FLAGS
ObjectiveRisk flags
Body Corporate
Major$45,000 special levy pending, not disclosed in section 32
Action: Request full body corporate minutes before signing
Rental Estimate
ModerateAgent estimate exceeds comparable leases by ~17%
Action: Use comparable lease evidence in negotiation
Building Age
MinorRoof age estimated 22 years. Replacement window approaching
Action: Note in 10-year cost projection
STRATEGIC FIT
TailoredStrategic fit
Frank's strategic fit assessment for Maya: this property fits the 5–7 year hold timeline and the $850k pre-approval headroom. The body corporate situation is the single deal-defining issue.
SCENARIO ANALYSIS
What this purchase looks like if things go differently than planned.
Things go roughly as expected.
Maya purchases at $785,000 with levy resolved. Monthly repayments at current rates: approximately $4,100 on a 90% LVR loan. Rent received if converted to investment after year 7: estimated $540–570 per week based on comparable leases. This scenario is financially comfortable within Maya's pre-approval and income profile.
Rates rise. Levy is not resolved before settlement.
A 2% rate rise adds approximately $1,050 per month to repayments. If the $45,000 levy is inherited unresolved, total acquisition cost increases to $830,000. Combined, Maya's monthly holding cost increases by $1,300–1,500. Frank considers this a stretched but survivable position given Maya's income. Provided her cash buffer remains intact after purchase. Frank's advice: do not waive the levy resolution condition under any circumstance.
Levy resolved. Market performs as comparable trajectory suggests.
If the levy is resolved before settlement, Maya acquires a top-floor apartment in a boutique 12-unit block at approximately 3–4% below Frank's assessed mid-value. The Bayside median for this configuration has grown at 4.2% annually over the prior 5 years. A 7-year hold at 3.5% annual growth (conservative) produces an estimated value of $1,010,000–$1,040,000. The investment conversion scenario in year 7 produces positive cashflow from day one at current rental market rates.
NEGOTIATION STRATEGY
TailoredNegotiation strategy
Negotiation strategy: lead with the $45,000 undisclosed special levy as material and uncosted. Anchor offer at $780k. Maximum walk-up: $805k.
QUESTIONS TO ASK THE AGENT
TailoredQuestions to ask the agent
- Has the special levy been formally resolved by the body corporate? Date and minutes?
- What is the current sinking fund balance?
- Are there any other planned capital works in the next 24 months?
- Has the building been independently inspected for the works the levy is funding?
FRANK'S VERDICT
TailoredFrank's verdict
Maya. Your concern about hidden costs was the right one. Frank found a $45,000 levy you would have inherited. Walk in with this finding, anchor low, and either negotiate it out or walk away. The property fits your timeline. The numbers don't fit until that levy is resolved.