47 Madigan Street, Braitling NT 0870

3 bed on 855m² | 6 car spaces | solar & FTTP | no overlays | Braitling Primary catchment This property presents a compelling proposition for an owner-occupier seeking space and utility in Alice Springs, with its configuration offering distinct practical advantages. The six car spaces significantly exceed the local standard of four, a decisive feature for tradespeople, multi-vehicle families, or those with recreational assets. The 855m² lot provides substantial subdivisible potential, further amplified by the absence of bushfire or flood overlays, which streamlines any future development application. With building coverage at only 40%, the parcel retains considerable developable land. The priority enrolment for Braitling Primary School, coupled with FTTP and solar panels, solidifies its appeal to a family buyer prioritizing long-term utility and low operational costs over cosmetic finishes. Proceed with the understanding that its value is anchored in land utility rather than the dwelling, which lacks disclosed age and condition. The primary risk is market depth; Braitling’s buyer pool for three-bedroom houses on large blocks is narrow, as evidenced by extended days on market for comparables. The $475,000 ask sits at the apex of recent sales, demanding scrutiny. Your position is strongest if you acquire it as a land bank with a liveable house, exploiting the low coverage ratio. For an investor, the lack of rental data is a material omission. Conclude negotiations below the estimated $481,000, as paying a premium for the dwelling itself is not justified. This property works as a long-term hold for an owner who will utilize its spatial advantages or future development optionality. Recent comparable sales in Braitling provide critical context: – 4 bed, 1 bath, 875m², sold for $465,000 after 122 days (Jan 2026). – 3 bed, 1 bath, 836m², sold for $400,000 after 86 days (Feb 2026). These transactions demonstrate a market where properties sell significantly below asking after lengthy campaigns, and where a four-bedroom home commanded only a $65,000 premium over a three-bedroom. This property’s $475,000 listing is ambitious, positioned above both comparables despite its older bath count and unverified building condition. Your offer must reflect this compression, using the $400,000 sale as a more relevant benchmark for the dwelling’s contributory value, with a premium applied only for the superior parking and slightly larger lot.