502/2 Delmar Parade, Dee Why NSW 2099

Flood overlay | 85m² internal | fifth-floor walk-up | no second bathroom | rental yield at 4.6% The flood overlay introduces a cost mechanism that buyers must price into their offer: insurance premiums typically increase by 15–30% in designated flood zones, and resale liquidity narrows because many owner-occupiers avoid such properties. The absence of a second bathroom and the single open car space position this unit as a rental-first hold rather than a long-term family home. At a 4.6% gross yield against estimated value, the return is acceptable for a coastal-entry play but not exceptional. For a buyer who intends to hold and rent, the property works if acquired with the flood premium discounted; for owner-occupation, the risk-to-lifestyle ratio tilts against it. What makes this unit competitively rare is the 85m² internal living area on a single level in a boutique architect-designed block, which is hard to find in Dee Why at this price point. The coastal walkability and the floorboards plus built-in robes give it strong lettable appeal for professionals or downsizers who value location over space. This property serves best an investor seeking a sub-$900k entry into a tight northern beaches market with steady rental demand. Flood overlay aside the open-plan layout and natural light are genuine differentiators in a street where most comparables sacrifice interior quality for square footage. To move forward you should instruct a full flood-risk assessment from a hydrology engineer and test insurance quotes before any offer.