Rental Yield Summary
| Property Type | Median Price | Weekly Rent | Gross Yield | Net Yield (est) |
|---|---|---|---|---|
| Houses | $527,517 | $305/wk | 3.0% | 1.2% |
| Units | $270,501 | $208/wk | 4.0% | 2.5% |
Gross vs Net: The Real Numbers
Gross yield is what most headlines quote. Net yield is what you actually keep after costs.
Annual costs that eat your yield:
- Council rates: $1799/year
- Insurance (landlord): $1,200-1,800/year
- Property management (7-8%): $1,189/year
- Maintenance allowance (1%): $5,275/year
- Vacancy (2-4 weeks/year): $915/year
Net annual income (house): $4,980 Net yield: 1.2%
Vacancy Rate
Current vacancy: 1.5%
Tight market – tenants compete for properties. Expect minimal vacancy between tenants.
How Noble Park Compares
| Suburb | House Yield | Unit Yield |
|---|---|---|
| Noble Park | 3.0% | 4.0% |
| Melbourne average | 3.2% | 4.1% |
| Box Hill | 3.6% | 4.9% |
Solid middle-ring returns that balance yield with capital growth potential.
Cash Flow Analysis
At current rates (6.2% variable), interest-only on 80% LVR:
- Annual interest: $26,164
- Annual rent: $15,860
- Cash flow position: Negative gearing of -${int(med_h * 0.8 * 0.062 - rent_h * 52 + med_h * 0.01 + 2000):,}/year (tax deductible)
For full investment analysis, see our Noble Park investment guide.
Yield calculations based on REIV median prices and Domain/realestate.com.au rental listings for Q1 2026.
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