31 Caravel Court, Cleveland QLD 4163

Waterfront canal position | wide 24m quayline north-east aspect | 842m² land 37% coverage | flood overlay flagged The property’s competitive strength lies in its rare combination of a 24-metre quayline with north-east exposure on a wide canal, paired with a low 37% building coverage on 842 square metres. This configuration gives a buyer meaningful room to reconfigure, extend, or redevelop the existing 1990 residence while retaining water access. The vaulted ceilings and oversized windows are not cosmetic; they maximise natural light across the living zones and reinforce the waterfront feel. The separate downstairs bedroom with built-in robes works well for guests or as a home office, and the three upstairs ensuites suit families or those hosting regularly. This property is best suited to a buyer who values boating lifestyle and wants a residence that can be improved over time without needing immediate full renovation. The flood overlay is the primary risk and will affect insurance premiums and possibly resale buyer pools; a detailed flood study and insurance quote should be obtained before proceeding. The 1990 build means older waterproofing and electrical systems may need attention, but the recent paint and flooring reduce immediate outlay. The 37% building coverage offers commercial logic for a future upper-level addition or pool house, subject to council approval. Hold this property as a long-term waterfront family home with staged upgrades, or as a canal-side base with redevelopment optionality.