20/139 Pring Street, Hendra QLD 4011

Gated complex in Hendra | North-facing townhouse with yard | Flood overlay confirmed | Strong rental yield near 4% | Last traded 19 years ago This townhouse occupies a rare position within the gated Tea Tree Grove enclave: a north-facing, ground-level unit with its own grassed yard and private patio, in a suburb where most comparable stock sits above or without outdoor space. The floorplan,three bedrooms, two bathrooms, an eat-in kitchen with walk-in pantry, and a separate internal laundry,suits a downsizer or professional couple seeking lock-and-leave convenience without sacrificing a garden. The 203m² lot, combined with rear drive-through garage access, gives it a semi-detached feel that commands a premium over standard strata villas. For a buyer, this configuration reduces competition from investors targeting pure rental yield and instead appeals to owner-occupiers who value privacy and low-maintenance living within 6 kilometres of the city. The confirmed flood overlay is the primary negotiating lever. While the property has not flooded in recent memory,the last sale in 2007 at $400,000 and the 1999 transaction at $183,000 both predate major flood events,the overlay will constrain capital growth relative to unencumbered stock and may affect insurance costs. The buyer should commission a flood report and factor a 5–10% discount against comparable non-flood properties in Hendra. Offsetting this, the rental estimate of $795–$855 per week supports a gross yield near 3.8–4.0%, strong for a $1.2 million entry point, and the gated community’s communal pool and gym add appeal for tenants. Hold this property as a medium-term owner-occupied residence or a low-touch rental; its configuration and location will outperform the suburb average once the flood risk is priced in.