5 Merloo Court, Alexandra Hills QLD 4161

Lack of second bathroom limits family appeal | large block but small floorplan | price expectations above suburb median | rental yield below average for the area This property carries a fundamental mismatch between block size and livable space. the 108m² floorplan on 1014m² of land means the buyer pays primarily for dirt, not dwelling. With only one bathroom and no second toilet the house struggles to justify above-median pricing for a family buyer. The 3.27% rental yield from Domain sits below the suburb average of 3.65%, confirming weak income logic. In this market you are buying land banking potential rather than turnkey family living. Hold long term, but expect a period of undersupply in usable amenity relative to peers. What makes this property competitively strong is the sheer land size in a quiet pocket with no flood or bushfire overlays—a rare find near Alexandra Hills state school catchment. The wrap around patio and multiple yard zones give future flexibility for extensions or granny flat potential, though council approval remains uncertain. This house best serves a buyer who values land banking over immediate comfort, or someone willing to invest 150k-200k into a second bathroom and floorplan reconfiguration. The lack of a second bathroom is not a minor detail; it is a structural barrier to resale liquidity in this price bracket. | Sale Date | Price | Notes | |————|——-|——-| | Jul 1991 | $102k | Private treaty | | Feb 2001 | $115k | Private treaty | Historical sales show long term capital growth of roughly 6.5% per annum over 35 years. this property has not traded since 2001 and carries no recent comparable to support the current asking price range near 1.1m. The suburb median of $999k suggests the asking range sits at a premium that demands justification beyond land size alone.