What $2K a month gets you in Sydney's horror rental market

This property is expected to rent for nearly $500. Image: Domain.com.au

This two-bedroom Sydney apartment is expected to rent for $480 a week, despite being in a miserable condition.

Joke all you like about millennials wasting their money on smashed avocado breakfasts, but then you look at value for money in the Sydney rental market, it’s no surprise people are struggling to save for their own home.

Currently advertised on Domain, an apartment at 34 Wentworth Street in the inner-city suburb of Glebe looks in desperate need of renovation before the next tenants move in and pay their $1,920 bond.

The tiny bathroom comes complete with a cracked shower screen, broken tiles and warped wood that seems to be a result of water damage.

Bathroom of unit in 34 Wentworth Street, Glebe
Nothing says “relaxation” like broken tiles and water damage. Image: Domain.com.au

Each bedroom features built-in wardrobes, but one bedroom has barely enough space to fit a double bed.

One bedroom of unit in 34 Wentworth Street, Glebe
Good luck fitting anything else in the room. Image: Domain.com.au

The other bedroom can easily fit a double bed, provided the bed is squashed into a corner.

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One bedroom of unit in 34 Wentworth Street, Glebe
A bare mattress on the floor makes for the ultimate décor. Image: Domain.com.au

The living area is the only space large enough to fit furniture without anyone needing to climb over or around it to access other areas of the room.

Living room of unit in 34 Wentworth Street, Glebe
This is living. Image: Domain.com.au

Any entryway is bound to be a high-traffic area, but the carpet is desperately in need of an industrial-strength steam clean. If a strip of lighter, less used carpet were not visible in the picture, you could be forgiven for confusing the carpet with a bare slab of concrete.

Entryway of unit in 34 Wentworth Street, Glebe
Make a grand entrance. Image: Domain.com.au

The kitchen is tired, tiny and very pink. 

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Kitchen of unit in 34 Wentworth Street, Glebe
Let’s hope it’s functional. Image: Domain.com.au

Believe it or not, $480 for a two-bedroom apartment in Glebe is pretty much a steal. Many studio or one-bedroom properties are in the same price range. However, these properties are far better maintained and, in many cases, renovated to meet modern standards.

The next comparable apartment (two beds, one bath, no parking) in Glebe is currently listed for $560 per week. That property has far bigger bedrooms, is far newer, and looks less likely to be haunted by the ghost of a dissatisfied tenant.

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Glebe is a stone’s throw from the Sydney CBD, and close to a major shopping centre (Broadway) and two prominent universities. Public transport options are many and varied.

Had the apartment at least been cleaned for the photos, the price tag might not be so cringe-worthy and the real estate agent’s desire to “find you a lovely home” would be a touch more believable.

Still, given the demand for rental properties in this area, it won’t be long before someone decides to take a chance on this apartment.

How would you feel about your children or grandchildren paying this much for a rental property of this quality?