38 Correena Avenue, Paralowie SA 5108
38 Correena Avenue, Paralowie SA 5108
3 bedroom, 1 bathroom house on 826m² with 4 parking spaces. Built 1980, single-storey, 112m² internal. Split system air conditioning in master bedroom. Located in Paralowie, within Salisbury Council area.
The land size is the defining feature here. At 826m², this property offers a footprint that is becoming increasingly uncommon in Paralowie, where newer subdivisions typically offer lots half this size. The four parking spaces add practical utility that most modern houses in the area cannot match. While the internal layout is modest at 112m², the generous block provides scope for future extension or redevelopment, subject to council approval. This property sits firmly in the established older section of the suburb, where tree-lined streets and solid 1980s construction are the norm. It is best suited for a buyer who values land over internal square meterage and is prepared to work with a functional but dated floorplan.
The age of the building may introduce maintenance considerations that a newer property would not. The single bathroom and smaller internal area could limit appeal for some families, particularly when compared to more contemporary layouts in the area. The price guide sits above the estimated valuation, which suggests the vendor is pricing for the land content rather than the house condition. A buyer should weigh the cost of any necessary updates against the long-term value of holding a larger block in a suburb that is seeing increasing infill development. The property may require investment in modernisation, but the land component offers a different kind of return over time.
Detailed Independent Property Report prepared by PropCred Analyst team for 38 Correena Avenue, Paralowie SA 5108
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
1
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Market Insight
Paralowie presents as a stable, affordable entry point into the Adelaide market, characterised by strong owner-occupier demand from young families. This is evidenced by high mortgage ownership rates and consistent house price growth, with the market demonstrating solid momentum as properties transact relatively quickly. Future performance will hinge on the suburb’s ability to maintain its affordability advantage while benefiting from broader metropolitan growth, though limited unit market activity suggests a narrower investment profile.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
4
Land
826m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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