115 Union Street, South Lismore NSW 2480

Flood overlay | dual street frontage | premium listing above valuation | tenanted income proof The flood overlay on this property is the single most material risk; it depresses borrowing capacity, raises insurance premiums, and narrows the resale pool. The dual street frontage is a structural advantage that can support a future subdivision application, but only if the council’s flood mapping allows it. At $360,000, the listing sits roughly 15–20% above the most recent estimated valuations of $300,000–$315,000, meaning the buyer pays a premium for tenanted income at $525 per week. This property works as a hold‑and‑collect investment for a cash buyer who does not rely on loan approvals in a flood zone. The strong rental yield of 7.6% gross, backed by a quality tenant already in place, gives an investor immediate cash flow. The level lot with dual street frontage is competitively rare in South Lismore; it offers optionality that comparable single‑frontage lots lack. This property serves best a seasoned investor seeking yield with a long‑term hold horizon who can manage the flood overlay as a known condition rather than a deal‑breaker. To move forward, you should obtain a flood risk assessment from Lismore City Council and a builder’s inspection of the floor height relative to the detected 11m elevation, then submit an offer that aligns with the lower valuation range.