Granny flat calculator
What would a granny flat earn you?
Build cost, rent and what's left each week, for your block. The numbers update as you go, and every assumption can be changed.
Your property
So it saves to the right property in your plan, and a builder can look at your block.
Size
Or set your own size (m²):
Build cost per m²$3,000
Your builder's quote is the real number. Change it any time.
$2,000$5,000
Weekly rent$450
Your figure. Check what similar granny flats near you rent for.
$200$900
How you'd pay for it
Interest rate6.5%
4%10%
An assumption. A mortgage broker can tell you what applies to you.
Adjust the other costs
Getting it built
Running it each year
Value (optional)
Build cost
Build (60 m² at $3,000/m²)$180,000
Site preparation$15,000
Utility connections$8,000
Council and DA fees$3,000
Design and certifier$5,000
Landscaping and finish$5,000
Total$216,000
Each year
Rent ($450 a week)$23,400
Vacancy (4%)-$936
Property management-$1,572
Maintenance and insurance-$2,800
Interest (6.5% on $216,000)-$14,040
Left over$4,052
Return on the build
Rent after vacancy, each year$22,464
Rent as a % of the build cost10.4%
Pays back the build in53.3 years
Monthly repayment if paid off over 30 years$1,365
Value of the property
Typical uplift, low (60% of build)$129,600
Typical uplift, high (90% of build)$194,400
Not every dollar spent turns into value. Design, quality and what buyers in the street pay all matter. Add the value now and after under "Adjust the other costs" to use your own figures.
Tax
An estimate of how the rent sits with your tax. Your accountant can confirm what applies to you.
Annual Rental Tax Analysis
Estimate the annual tax impact of holding your rental property.
Taxable Income Calculation
Annual Gross Rent: $22,464
(-) Operating Expenses: $4,372
(-) Loan Interest: $14,040
(-) Depreciation: $0
Net Taxable Income / (Loss):$4,052
Estimated Annual Tax Payable: $1,317
Your granny flat generates taxable income, which may impact your overall tax position.
Before you build
Check your block is eligible (lot size, width, setbacks)Builder or certifier
Approval (the pathway depends on your state and council)Council or certifier
Finance for the buildMortgage broker
Insurance during and after the buildInsurer