Spacious Fire Room Flat at Toa Payoh

Introduction

• Presented by: Pro Brother, Blue Brakes
• Location: Toa Payoh, Block 37, Point Block
• Features: Spacious, well-renovated, unblocked S.E. view
• Lease: Started in September 1976, 48 years old, 51 years remaining

Property Overview

• Structure: 4 units per level, all corner units (Point Block)
• Size: 114 sqm (1227 sq ft)
• Layout: L-shaped living/dining, 3 bedrooms, 2 bathrooms, huge kitchen, yard area

Ideal For

• Retirees: Centrally located, near parks and amenities
• Young Couples: Use as an applicant/occupier structure, buy a second private property after 5 years
• Rental Income Potential: Estimated $4,000/month ($2.2 million over 46 years)

Floor Plan Features

• Shape: Very regular shape
• Living/Dining: Windows on both sides, good cross ventilation
• Potential: Space for a 4th bedroom
• Floor Level: Above level 15, unblocked view towards Bukit Merah Hill Park
• Orientation: North-facing, good wind ventilation year-round
• Renovation: Full renovation 5 years ago costing ~$80,000

Living Area

• Spacious, can accommodate big lounge sofa
• Fluted panel feature wall with TV console storage
• Homogeneous tiling throughout
• False ceiling with excellent lighting options

Dining Area

• Views: Sea view, CBD view
• Flexibility: Can convert to a study zone, secondary entertainment space, or enclose for a 4th bedroom
• Current Setup: Comfortably fits 6 to 8 seats, additional storage possible

Kitchen

• Layout: Open-plan, connected with living/dining area
• Features: Island with breakfast counter, electric sockets, lots of storage
• Cooking Area: EF cooker hood, 3-burner cooker hob
• Yard: Hanging system, capacity for washer/dryer, option to separate with sliding doors

Location Analysis

• Proximity: 850m from HarbourFront MRT & VivoCity
• Transport: Dual MRT lines (Northeast & Circle Line), nearby bus stops
• Parks: Near Mount Faber Park, part of Southern Ridges
• Amenities: Market, food center, giant supermarket
• Shopping Mall: VivoCity, largest in Singapore
• Schools: CHIJ (Kellock), Radin Mas Primary
• Entertainment: Close to Sentosa, Safra

Pricing Analysis

• Comparables: Ranges from $798,000 to $1.06 million in the area
• Our Unit: Asking price $890,000

Common and Master Bedroom

• Common Bathroom: Fully renovated, dark theme, separation of wet/dry areas
• Common Bedrooms: Spacious, vinyl flooring, air conditioning
• Master Bedroom: Spacious, squarish, air-conditioning, no built-in fixtures

Financial Analysis

• Loan: Bank loan (up to 75%), HDB loan (up to 80%)
• Grants: Proximity housing grant (up to $20K), first-timer grant (up to $50K)
• CPF Usage: Up to $890,000, depending on age
• Example Breakdown:
  • Purchase price: $890,000
  • Cash down payment: $44,500
  • Remaining down payment: $178,000 (cash or CPF)
  • Stamp duty: $21,300 (cash or CPF)
  • Legal fees: $2,000 (cash or CPF)
  • Total upfront: $245,800
  • Loan amount: $667,500 (20-year tenure, 2.9% interest)
  • Monthly repayment: $3,669

Conclusion

• Features: Spacious, renovated, high-floor, point block setting
• Contact: Listing team for viewing appointment
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