2/28 Flounder Road, Ettalong Beach NSW 2257

Flood overlay confirmed | 965m2 lot with tight villa restrictions | Rental yield sub-2.5% | Needs renovation before it yields properly The property carries a confirmed flood overlay, which directly caps future capital appreciation and may impose higher insurance costs on a buyer, reducing net rental return from an already modest 2.13%. With a 965m2 lot but a villa strata arrangement, you cannot subdivide or develop independently, so the land is effectively locked in common title. That said the breezeway separation and private courtyard delivers a feel of semi-detached living rare in this price bracket. This is a hold-for-cashflow property, not a flip. What makes this property competitively strong is the quiet spatial advantage—a fully paved private courtyard and breezeway privacy in a villa format are unusual in Ettalong’s strata stock. For a downsizer or single professional who wants the ferry proximity and lower maintenance, the built-in robes and split system add convenience. It serves best as a long-term owner-occupied unit rather than an investment, given the yield constraints and flood risk affecting borrower appetite. To move forward you should arrange a building and pest inspection focused on the breezeway structure and flood history documentation, then negotiate from the lower end of the range.