Lot 4, Fleur Corner, Jackass Flat, Bendigo VIC.

“Jackass Flat Co-Living Investment – $57k Income, 8.5% Yield, +$142/wk Positive Gearing”

Property analysis by:

Investment Highlights

• Priced at $674,000 with rental income of $57,315 p.a. – delivering a strong 8.5% gross yield.
• Cashflow-positive: estimated surplus of +$142.38 per week before tax under current assumptions.
• Purpose-built co-living design: 3 self-contained ensuites plus additional bedrooms and shared spaces for multiple income streams.
• Ultra-low vacancy: just 0.7% in Jackass Flat, Bendigo ensuring tenant demand remains consistently high.
• Population boom: suburb has grown 72.9% over the past 5 years – one of the fastest growth rates in Victoria.

Key Financials

Purchase price: $674,000 (Land + Build)
Configuration: 4 Bedrooms, 4 Bathrooms, 2 Cars (Co-Living 1A compliant)
Land price: $270,000
Build price: $404,000
Rental appraisal: $1,110 per week (~$57,315 p.a.)
Gross yield: 8.5%
Vacancy rate: 0.7%
10-year avg. annual growth: 9.71%
Cashflow: +$7403.53 p.a. (~+$142.38 per week) before tax

Location & Growth Drivers

Jackass Flat is a thriving suburb within Greater Bendigo, located just 4 km from the city centre. The suburb blends natural tranquility with convenient access to Eaglehawk Road, Canterbury Park, and local shopping strips. Families are drawn by parks, low-traffic streets, and above-average safety, while professionals and students value the direct connectivity into Bendigo CBD.

The suburb’s fundamentals are exceptionally strong: 72.9% population growth in 5 years, a $594,000 median house price with 4.6% rental yield, and extremely low vacancies. Lifestyle scores rank highly for tranquility (82/100) and community engagement, making Jackass Flat both liveable and investable. Development pipelines further support ongoing demand and long-term value uplift.

Build Specification (Co-Living)

• Specialist Co-Living 1A compliant design for multiple tenancies
• 4 bedrooms including 3 self-contained ensuites
• Modern kitchen, hybrid flooring, tiled wet areas, and keyless digital locks
• Energy-efficient build with NBN, air-conditioning in each bedroom and living area
  

Why This Deal Stacks Up

1. Cashflow-positive in year one: Rare in today’s market, with +$142.38/week pre-tax.
2. High yield strategy: 8.5% gross yield versus Bendigo’s median 4.3% yield.
3. Population surge: 72.9% growth ensures strong tenant pipeline and future buyer demand.
4. Low-risk tenancy model: multiple rooms/ensuites spread risk across diversified income streams.

Risks & Mitigations

• Specialised management: Co-living requires experienced property managers. Mitigated by engaging specialists who understand multi-tenant compliance.
• Market cycle: Jackass Flat saw -2.78% 1-year growth, but long-term demand underpinned by affordability and demographics.
• Higher tenant turnover: Room-based leasing increases movement. Diversified tenancy reduces overall vacancy risk.
• Financing: Some lenders may require additional due diligence for co-living. Strong cashflow and yield mitigate finance risk.