4/157-159 Grafton Street, Cairns City QLD 4870
4/157-159 Grafton Street, Cairns City QLD 4870
2 bed unit, 98m², strong capital growth in complex | Owner-occupied building, low turnover | Cairns High catchment, 0.2km | NBN FTTP, 5G connected
This unit offers a rare combination of size and building stability for a Cairns City apartment. At 98m² internal, it is substantially larger than most two-bedroom units in the area, which typically sit below 80m². The building’s 95% owner-occupier rate and low renter share indicate a well-maintained complex with minimal turnover risk, a strong advantage for a buyer seeking long-term hold quality. Its location directly in the Cairns State High School catchment, only 200 metres from the school, adds a durable demand layer from families. The recent sale of unit 6 in the same complex for $580,000 demonstrates that this building can achieve significant capital growth, with that property tripling in value over nine years.
The primary risk is the lack of recent comparable sales for this specific unit type, making precise valuation dependent on the building’s wider trajectory. While the property has appreciated substantially since its 2017 sale of $207,500, the current asking price sits above the most recent Domain estimate range of $405,000 to $535,000, suggesting a premium that requires negotiation. The opportunity lies in the building’s proven growth pattern and the unit’s generous floor plan, which is increasingly scarce in the market. For a buyer who values space and a stable owner-occupied complex over a turnkey rental yield, this property presents a solid long-term position in a city with a $585,000 median house price.
Detailed Independent Property Report prepared by PropCred Analyst team for 4/157-159 Grafton Street, Cairns City QLD 4870
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
Cairns North is a tightly held suburb prized for its proximity to the CBD and key infrastructure. Demand is intensely competitive, driven by first home buyers and interstate lifestyle migrants, all contending with a chronic housing undersupply. This has fuelled exceptionally strong recent price growth, with properties selling rapidly in a low-vacancy environment. Future growth is underpinned by major infrastructure projects, though the primary constraint remains the acute shortage of available housing stock.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
2051m²
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