24/59 Rickard Road, Bankstown NSW 2200

24/59 Rickard Road, Bankstown NSW 2200
2-bed / 1-bath / 2-car unit | built 2000 | around 63m² | 400m to station | dual parking edge This unit offers a genuinely practical configuration for commuter buyers, with two secure parking spaces a notable edge over most apartment stock. The circa-2000 build provides more generous internal space than newer micro-apartments, and the short walk to Bankstown station, library and central retail makes it a solid choice for owner-occupiers wanting convenience and for investors chasing steady rental demand. The two-bedroom, one-bathroom layout suits singles, couples or small households, and the dual parking adds real everyday utility in an area where on-street parking is tight. While not a premium product, it represents dependable, well-located strata living with a rental profile that supports buyer interest. Value may be influenced by the flood overlay flagged on the lot, which could affect insurance costs and buyer confidence. The building’s 2000-era finishes might feel dated compared with newer developments, and the unit’s floor level, aspect and condition could meaningfully alter its appeal. Buyers should weigh potential strata levies and maintenance on an older complex, while the strong parking and station access may offset slower resale periods. >> Comparable Sales: 23/59 Rickard Road sold for $483k two years ago | Property Price Band: $500k–$600k | Value Drivers: two-car parking, station proximity, layout/condition
Detailed Independent Property Report prepared  by PropCred Analyst team for 24/59 Rickard Road, Bankstown NSW 2200
Checks found:
Value Risk 2
Liquidity Risk
Planning Risk
Income Risk 2
Execution Risk
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Market Insight

Bankstown presents a bifurcated market: houses at a median of $1.595 million have grown 11.15% annually, while units sit at $595,000 with 10.19% growth. Recent figures vary-one source places house growth at 13.8% and units at 8.3%-but momentum is clear. Units trade in about 23 days versus 56 for houses, with 482 unit sales against 126 house sales, reflecting stronger turnover in the affordable segment. Demand is led by first-home buyers, young professionals and investors, drawn to a 5.51% gross rental yield on units and a 13.2% increase in unit rents. Families continue to underpin the house market. Risks centre on affordability: house incomes run 35.9% below Greater Sydney’s average, which limits upside, though the 52.3% strata share and faster unit absorption suggest ongoing investor interest.
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PropCred Estimated Value

Bedrooms

2

Bathroom

1

Parking

1

Land

1520m²

Research & Review Prepared by Brian Moon, Analyst · Reviewed by Matt Proctor, Principal Analyst
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