302/129 Churchill Road, Prospect SA 5082

2-bedroom apartment in Wisteria | 2018 build, 77sqm | Prospect near CBD | flood overlay present | sold for $390k in 2022. This property offers a rare combination of modern construction and established suburb positioning. The 2018 build means lower maintenance and higher energy efficiency than most stock in Prospect, while the 77sqm floorplan provides genuine two-bedroom separation with an ensuite-rare for apartments in this price bracket. The buyer gains a foothold in a suburb with strong demographic depth, a 23% under-20 population indicating family renewal, and direct school catchment for Adelaide High. It suits an owner-occupier seeking a low-maintenance base within ten minutes of the CBD, or an investor targeting the professional rental market. The main risk is the flood overlay, which may affect insurance premiums and future resale appeal to cautious buyers. The current asking range sits above the estimated value of $613,000, meaning the buyer must negotiate hard or accept a period of flat growth. The 2022 sale at $390,000 shows strong recent appreciation, but that pace is unlikely to repeat. The opportunity lies in holding for at least five years, leveraging the FTTP connectivity and balcony amenity to attract quality tenants or a future downsizer. Treat this as a stable hold, not a flip.