48 Ashfield Road, Elizabeth SA 5112
48 Ashfield Road, Elizabeth SA 5112
Large 822 m² block | 1957 solid-brick house | 3 bed, 1 bath, 6 car spaces | flood overlay noted | strong rental demand
This house stands out for its land size and parking capacity, both well above what is typical for Elizabeth’s newer infill stock. The solid-brick construction from 1957 signals durability, and the single-storey layout with a central hallway offers a conventional family floor plan that remains practical. With a 17% building coverage, there is considerable yard space, which appeals to buyers wanting room for sheds, gardens, or future expansion. The property suits investors and first-home buyers most directly, given the existing tenancy and the rental estimate of $480–$520 per week, which points to a gross yield in the high 4% to low 5% range at the recent sale price of $600,000. The current tenant at $480 per week provides immediate income certainty, and the large block gives long-term flexibility that smaller lots cannot match.
The flood overlay is the main factor to weigh carefully, as it may affect insurance costs and limit certain types of future development or extensions. The 1957 build age means condition and finish quality could vary significantly, and the available information does not confirm the kitchen or bathroom standard, so a physical inspection is essential to gauge renovation needs. The sewer easement noted on the title may also constrain where structures can be placed, though it does not necessarily diminish the property’s day-to-day usability. The estimated rent from the property profile at $565 per week is higher than the agent’s range, so the actual achievable rent should be verified with current market evidence before relying on yield projections.
|| Comparable Sales: 3 bed, 1 bath, 1 parking house on 822 m² sold around $689,000–$709,000; smaller 355 m² house sold near $510,000–$550,000 | Property Price Band: $600,000–$700,000 | Value Drivers: land size, parking capacity, flood overlay, and condition of the 1957 build
Detailed Independent Property Report prepared by PropCred Analyst team for 48 Ashfield Road, Elizabeth SA 5112
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
2
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Market Insight
Elizabeth, in northern Adelaide, is a tightly held market driven by local working families and labourers aged 30-49, with certificate-level education. House prices have climbed to a median of $665,000, a 25.2% annual compound gain, though other sources cite $627,500 with 18.28% growth and a wider $585,000 figure. Only 13-15 sales occurred, reflecting thin supply, and last month saw just two rentals and two listings. This scarcity supports values, but constraints are evident: household income trails Greater Adelaide, and median price estimates vary sharply from $133,556 to $665,000, complicating valuation. Main North Road provides connectivity, while long-standing local agency presence indicates established market infrastructure.
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PropCred Estimated Value
Comparable Sales: 3 bed, 1 bath, 1 parking house on 822 m² sold around $689,000–$709,000; smaller 355 m² house sold near $510,000–$550,000 | Property Price Band: $600,000–$700,000 | Value Drivers: land size, parking capacity, flood overlay, and condition of the 1957 build
Bedrooms
3
Bathroom
1
Parking
6
Land
822m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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