43A Connolly Street Rangeway WA 6530

| 1086m² lot | 2-bed duplex | ducted air-con | tenanted until mid-2026 | 5-min to town | This property offers a rare combination of a large, low-maintenance landholding and immediate rental income in a tightly held street. The 1086m² lot on a duplex title provides a strategic land bank in an area where 80% of neighbours are owner-occupiers, suggesting stable demand. For a buyer seeking a secure entry point with holding power, the current lease at $395/week until June 2026 covers holding costs while the land appreciates. The ducted air conditioning, enclosed courtyard, and side access add practical livability and future subdivision potential. The primary risk is the 1979 build quality and 71m² internal size, which limits appeal for owner-occupiers seeking space. The $2,129 annual council rates are high relative to the unit size, and the tenanted condition means no immediate vacancy upside. However, the long lease provides a buffer against interest rate volatility. The strategic opportunity is to hold for land value growth, then either develop the rear lot or sell to a builder. Use the rental income to offset holding costs, and monitor zoning changes for subdivision potential.