8 Parsons Close, Pelican Waters QLD 4551

5 beds + granny flat | 896m² near canals | flood overlay | sold 2023 for $1.5M This property presents a compelling proposition for a large or multi-generational family seeking substantial space and dual-living functionality in a convenient coastal location. Its configuration is its primary strength, offering a five-bedroom main house with multiple living areas plus a fully self-contained granny flat, all on a large, level block with side access. This combination is rare for Pelican Waters and creates immediate utility for extended family, adult children, or rental income. The location reinforces its appeal, being within walking distance of schools, shopping, and the marina, while the recent updates like the pool pump, solar panels, and FTTP NBN signal a well-maintained home. This property best serves a buyer who values functional space over premium finishes and can utilise the dual-income or dual-living potential. The decision hinges on acknowledging its specific risks and costs. The recorded flood overlay necessitates a specialist flood report and will impact insurance premiums, a tangible annual cost. The 2023 sale at $1.5 million against a current asking price over $1.699 million requires justification through market movement and the value of the granny flat; without strong recent comparable sales data, this premium is less defensible. The commercial logic lies in holding the property as a long-term family base while potentially offsetting costs through the granny flat’s rental. Given the configuration and location, it is a strategically sound purchase for the right user, but proceed contingent on a flood assessment and a valuation that solidly supports the premium over its last traded price.