40 Gavegan Street, Bundaberg North QLD 4670

High-set Queenslander | 904m² block | walk to two schools | strong yield potential | renovation upside. This property presents a rare configuration advantage in Bundaberg North: a high-set Queenslander on a full 904m² block with no overlay constraints, offering both immediate rental income and long-term land value. The polished timber floors, high ceilings, and bay window are not merely character features,they signal a property that can command premium rent to families seeking space and charm, particularly given the walkable proximity to two state schools and the owner-occupied street character. For a buyer targeting a 5-6% gross yield with scope for capital growth through cosmetic updates, this house sits in a suburb where 51% of residents are long-term, indicating stable demand. The primary risk is the current list price, which sits notably above the suburb median and recent sales evidence, meaning the buyer must negotiate hard to avoid overpaying on entry. The under-house storage and concrete stumps offer practical renovation opportunity, particularly converting the enclosed undercroft into additional living or a home office,a value-add that would further differentiate this house in a market where 75% of neighbours are owners. Hold this property as a buy-and-hold rental with a five-year plan to renovate selectively, then reassess for either continued rental or a premium sale to a family buyer seeking a turnkey Queenslander.