113 North East Road, Collinswood SA 5081

3-bed 1953 house | 637m² city-fringe lot | subdivision potential | no overlays The property’s primary buying case rests on its 637m² lot in a city-fringe corridor with no bushfire, flood, or heritage overlays, making it a rare low-risk development site. The existing 3-bedroom house offers immediate rental income at an estimated $670 per week while planning proceeds. This configuration best suits a buyer seeking a hold-and-develop strategy, particularly given the adjacent 992m² comparable at $1,710,000 signals strong land value growth in the corridor. The off-market house listing alongside an active vacant land auction for the same address confirms the site’s subdivision readiness. The key risk is the 34% site coverage of the existing 214m² building, which may limit redevelopment yield unless demolition is planned. The 1953 build age and single bathroom reduce rental appeal for premium tenants, capping achievable rent near the lower end of the $600–$735 range. However the FTTP and 5G connectivity support modern living or home-office use. The opportunity cost is the holding period between purchase and subdivision approval, but the existing rental income offsets this. Hold for land appreciation and execute subdivision when zoning permits higher density.