24 Bathurst Street, Mira Mar WA 6330

Bushfire overlay restricts insurance and resale | Price gap between ask and estimated value | 2016 sale on much larger block distorts history | Character bones but requires overlay due diligence The bushfire overlay is the primary risk mechanism here. It will narrow your buyer pool, increase insurance costs by an estimated 30-50%, and depress future resale velocity in a rising rate environment. The current asking price sits roughly $200,000 below midpoint estimates, which creates a genuine entry discount if you can hold for 5-7 years. This property should be held as a long-term hold, not flipped, due to the overlay friction. What is competitively rare here is the combination of original Jarrah floors and high ceilings with a modernised kitchen and bathroom—most period homes in this corridor sacrifice character for the reno. The sunroom with northerly aspect and direct park frontage are features that command a premium in the Albany walkable belt. This house serves best a professional couple or small family who value immediate amenity over land banking and who can absorb the insurance premium for the location advantage. The 2016 sale on a 2,041m² block versus the current 527m² lot shows the property was subdivided, which means you are buying the improved house, not speculative land value. For clarity, cross-check the subdivision date with council to confirm no outstanding development conditions. Next step: request the full bushfire attack level report and get a building and pest inspection focused on the timber frame condition before proceeding further.