2/27 Harvey Street, Pyrmont NSW 2009

Flood risk | heritage overlay | price gap risk | no parking | limited yield The asking range of $695,000 to $735,000 sits well below the current market estimate of $1.26 million, creating a rare but risk-laden opportunity. Flood and heritage overlays impose future insurability costs and potential renovation restrictions, which the price partly discounts. For a buyer prepared to hold long-term, the gap between asking and estimated value offers significant upside, but only if structural and covenant checks confirm no hidden remediation liabilities. This property should be held as a long-term investment, not a short-term flip. The unit’s location in North Pyrmont, its proven 26-year rental history, and the likelihood of purchase below replacement cost give it strong competitive advantages. The recent renovation and balcony add liveability, while the lack of parking limits buyer pool appeal. This suits cash-flow-focused investors or first home buyers willing to accept modest yield for higher capital growth potential. Comparable sales data for nearby 1-bedroom units at a median of $788,657 confirms the offered price is discounted, reinforcing the value case without relying on market estimates alone. Schedule a building inspection and flood overlay check before proceeding. If clear, negotiate within the asking range and commit.