10/473-479 Mccoombe Street, Mooroobool QLD 4870

2-bed strata unit | flood overlay | modernised 1984 build | leased at $450 | inner Cairns school catchments This unit presents a competitively priced entry into a high-growth suburb, serving investors and first-home buyers seeking yield and convenience. Its recent modernisation, single-level layout, and complex amenities like a pool position it strongly within the rental market, evidenced by its recent lease. The configuration is standard, but its location within proven school catchments and proximity to infrastructure creates immediate tenant appeal for small families or downsizers. The property’s core strength is its alignment with suburb rental yields, offering a turnkey solution with modern finishes that reduce immediate capital outlay. The primary decision mechanism is the flood overlay, which imposes insurance costs and potential resale friction, offsetting the unit’s price advantage. The strata structure on a large block manages external maintenance but adds operational costs. Commercial logic favours holding as a rental, leveraging the established yield; the 2020 to 2025 sales data suggests significant equity growth, though the 2025 figure requires verification. Given the estimates clustering around the asking price, a purchase at or near $389,000 represents market value, not a discount. Proceed with a specific flood due diligence, but the numbers support an investment hold, not a short-term trade. Recent sales context informs this valuation: – Nov 2020: Sold $140,500 – Sep 2006: Sold $143,000 – Apr 2003: Sold $77,000 The 2020 sale establishes a low base for recent equity growth, while the 2006 and 2003 figures are historical markers. The current asking price near suburb median reflects the substantial uplift post-2020, anchoring the offer range in observed market momentum.