162 Raleigh Street, Carlisle WA 6101

R30 zoning | duplex potential | character retained | $780pw rental ceiling | location over building The principal risk is the R30 duplex potential being priced as a development site while the existing house yields only $780pw, creating a yield gap below 3.2% if purchased near the top of the value range. This cost is paid through negative cash flow until subdivision is executed. The opportunity lies in the 842m² block with rear access and 17% site coverage, meaning future subdivision costs are lower than typical knockdown rebuilds. The property should be held as a land bank with rental income offsetting holding costs, or improved for higher yield before development. What is competitively strong here is the combination of renovated character features with development-ready zoning on a flat 842m² block without heritage or flood overlays. This rarity in Carlisle means the buyer can occupy immediately with modern conveniences while preparing subdivision at their own pace. The property serves best for an owner-occupier developer who values immediate livability and long-term land value over current yield. Proceed only if your timeline aligns with medium-term subdivision feasibility, not for passive rental return. The comparable sales data between $1.09m and $1.43m suggests the current asking is positioned near the lower to middle range for similar R30 blocks with habitable houses. This implies the seller may accept terms near $1.1m to $1.15m, making the acquisition cost rational for a staged development strategy. The risk is buying at the upper end where duplex feasibility becomes marginal.