406/256 The Parade, Norwood SA 5067
406/256 The Parade, Norwood SA 5067
2 bed 2 bath 2 car | 92m² modern build | Parade strip lifestyle | strong rental demand | flood overlay noted
This apartment holds a genuine edge in Norwood because it pairs a recent 2018 build with a configuration that is uncommon in this pocket: two bathrooms and two secure car spaces within a 92 square metre floorplan. Most apartment stock along the Parade is older, smaller, or short on parking, so this unit answers the needs of downsizers and professional couples who want lock-and-leave living without sacrificing space or convenience. The building itself is well positioned for the retail, dining, and transport amenity that defines the area, and the rental profile at roughly $745 per week points to sustained demand from tenants who value the same lifestyle drivers. For a buyer seeking a low-maintenance home in a tightly held inner-east strip, this is a practical and competitive option.
The flood overlay is the main environmental flag attached to this address, and it may influence insurance costs or lender appetite, though it does not appear to have hindered recent activity in the building. Floor level and orientation for this specific unit could not be confirmed, and those factors may meaningfully shape both outlook and resale appeal, so they are worth verifying directly. The wider price spread in the complex, from mid-$500k for smaller units to high-$800k for two-bedroom homes, suggests that presentation, aspect, and parking count will likely drive where this property lands in that range. Buyers should weigh the convenience of a Parade frontage against the potential for street noise and activity when forming a view on value.
|| Comparable Sales: 204/256 The Parade sold at $575k for a 1-bed; 302/256 The Parade marketed at $895k–$980k for 2-bed | Property Price Band: $800k–$900k | Value Drivers: two car spaces, modern build quality, Parade location and rental yield
Detailed Independent Property Report prepared by PropCred Analyst team for 406/256 The Parade, Norwood SA 5067
Checks found:
Value Risk
✓
Liquidity Risk
✓
Planning Risk
!
1
Income Risk
✕
2
Execution Risk
✓
Market Insight
Norwood is a tightly held, established suburb with a clear premium for houses over units. Demand is driven by owner-occupiers seeking a central lifestyle, evidenced by strong house price growth and a significant renting population. The market is active with houses transacting faster than units, which show softer conditions. Future growth is anchored in its enduring appeal, though the divergence in performance between property types and a low rental yield for houses present key considerations for investors.
PropCred Estimated Value
Comparable Sales: 204/256 The Parade sold at $575k for a 1-bed; 302/256 The Parade marketed at $895k–$980k for 2-bed | Property Price Band: $800k–$900k | Value Drivers: two car spaces, modern build quality, Parade location and rental yield
Bedrooms
2
Bathroom
2
Parking
2
Land
1369m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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