8 Margitich Street, Croydon Park SA 5008
8 Margitich Street, Croydon Park SA 5008
5 bedrooms on 611m² | 1966 detached house | 6-car accommodation | flood overlay present | Woodville High catchment
This property holds a rare configuration edge: five bedrooms and six car spaces on a 611m² block, which is uncommon for a 1966 build in this suburb. The 308m² building footprint with 50% coverage suggests substantial internal volume, likely offering generous room sizes and expansion potential. It serves families needing space for multiple vehicles, home-based work, or extended household arrangements. The older construction profile appeals to buyers seeking character bones with renovation upside, particularly given the absence of heritage or bushfire constraints. The flood overlay is a site-specific consideration that may temper some buyer interest, but it also positions the property within a planning framework that could limit future high-density competition nearby.
The flood overlay may affect insurance premiums and require specific design responses for any future development, which might influence how buyers price the land component. The single bathroom across five bedrooms could be a functional limitation for larger families, potentially justifying a renovation budget. The 1966 build year suggests possible updates needed in electrical, plumbing, or insulation systems, which may factor into total acquisition costs. The 9m ground elevation and 5m roof height offer reasonable vertical clearance, but the true condition of the structure remains unverified. The estimated $665 weekly rent against the listed value implies modest yield, suggesting the price is driven more by land and configuration than income return. Buyers should weigh the cost of modernising against the benefit of securing a large-block family house in a well-located suburb.
Detailed Independent Property Report prepared by PropCred Analyst team for 8 Margitich Street, Croydon Park SA 5008
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Croydon Park SA 5008 is an established, family-oriented Adelaide suburb characterised by detached houses and a meaningful renter base: 44% of households are couples with children and 38% are renting. Demand is driven by families seeking detached houses, and recent annual growth has been in the high single to low double digits. House medians range from $885,000 to $980,000 depending on source, with reported annual growth of 9.8% to 14.2%; units range from $558,141 to $653,000, growing 9.75% to 20% annually. Houses average 37 days on the market, with annual sales volume varying from 24 to 84 transactions. Rents are firm: houses return $610–$630 weekly and units $500, yielding 3.3–3.45% gross for houses and 5.23% for units. Available data does not isolate future growth drivers or supply-side risks.
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PropCred Estimated Value
Comparable Sales: 28 Days Road sold August 2020 at $1.02M for 725m² with 147m² floor area | Property Price Band: $1.0M–$1.1M | Value Drivers: land size, bedroom count, parking capacity, flood overlay impact on development potential
Bedrooms
5
Bathroom
1
Parking
6
Land
611m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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