50 Ernest Terrace, Wallaroo SA 5556
50 Ernest Terrace, Wallaroo SA 5556
5 beds, 2 baths, 6 car spaces | large residential block | strong rental demand | coastal lifestyle suburb | price signal well below typical stock
This property stands out for its sheer size and configuration. A five-bedroom, two-bathroom house with six car spaces on a large residential allotment is not common in Wallaroo’s current market, where most detached homes offer three or four bedrooms and far less parking. That extra capacity makes it a rare fit for extended families, buyers with boats or caravans, or investors looking to capture the tight rental market. The suburb itself is firmly detached-house oriented, and this property aligns with that character while offering more practical space than most. It would serve best a buyer who values room to move, storage, and the flexibility of a big block over polished finishes or a marina-side address.
The price signal attached to this property is well below what typical houses in the area command, which may reflect an older record, a property needing significant work, or simply an unusual listing situation. Buyers should weigh the potential for renovation costs or condition issues against the advantage of acquiring a large family home at a lower entry point. The land size and layout will likely drive most of the value, so a physical inspection to confirm the actual state of the house and the usability of the block is essential before forming a price view. Rental income potential may also be strong given the configuration, but that depends on how the interior presents.
|| Comparable Sales: 44 Ernest Terrace sold at $814,000; 50 Charles Terrace under offer at $415,000 | Property Price Band: $400,000–$500,000 | Value Drivers: land size, bedroom count, parking capacity, condition and presentation
Detailed Independent Property Report prepared by PropCred Analyst team for 50 Ernest Terrace, Wallaroo SA 5556
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Wallaroo, a coastal town on the Copper Coast Highway, draws a mature buyer base: 54% of residents are over 55, 58% are childless couples, and 43% own outright. Demand is led by retirees and empty-nesters, supported by marina-linked developments such as Inverness Way. House prices have grown 7.5–10.2% annually, with medians between $476k and $515k, well below the state’s $831,744 average. Sales are steady at 101–110 per year; 3-bedroom houses move fastest at 89 days on market. Rental yields sit at 4%, with median house rents of $450 weekly. The demand-to-supply ratio is healthy, but inventory is tight at just nine listings. Future growth hinges on coastal infrastructure and highway access, while risks include rate sensitivity—33% of owners hold mortgages—and limited supply, with prices expected to flatten or rise modestly.
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PropCred Estimated Value
Comparable Sales: 44 Ernest Terrace sold at $814,000; 50 Charles Terrace under offer at $415,000 | Property Price Band: $400,000–$500,000 | Value Drivers: land size, bedroom count, parking capacity, condition and presentation
Bedrooms
5
Bathroom
2
Parking
6
Land
900m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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