24 Phillip Street, Cleveland QLD 4163

4-bed low-set brick home | 541 m² in Cleveland | drive-through double garage | strong rental history This property occupies a well-understood position in Cleveland’s family housing market. Its single-level brick configuration on a 541 m² lot is a common but sought-after profile in the suburb, offering practical space without the maintenance demands of a larger block. The four oversized bedrooms and drive-through garage bay are genuine functional advantages — the latter particularly useful for boat or trailer owners, which matters in a bayside location. The home has been maintained to a high standard and is suited to owner-occupiers wanting move-in convenience, as well as investors given its established rental history at approximately $900 per week. The quiet street and proximity to the bay, shops, and schools reinforce its appeal to families and downsizers alike. The most material factor affecting value is the recent sale at $980,000, which may have been below market or reflect a specific vendor motivation. The subsequent listing at offers over $1,200,000 suggests either a rapid value reassessment or an opportunistic re-entry. A buyer should weigh whether the property’s condition and configuration genuinely support that higher price point, particularly given the absence of premium finishes or recent renovations. The long-term tenancy until September 2026 provides income certainty but may limit immediate owner-occupier appeal, and the yield at either price point should be tested against current rental evidence rather than portal estimates.