29 Malakoff Street, Somerset TAS 7322

1974 build | 602m² level lot | 3 bed investor layout | FTTP NBN | Somerset primary catchment This house presents a competitively strong, high-yield investment in a stable Tasmanian suburb. Its core strength is the substantial 602m² block, offering land value and expansion potential rare for the price point, coupled with a practical layout that reliably services the rental market. The property is best suited to an investor seeking durable cash flow from a straightforward, uncomplicated house with modern connectivity, given its fibre internet and absence of environmental overlays which simplifies due diligence. Proceed with valuation discipline, as the key risk is the wide variance in quoted building sizes—from 117m² to 173m²—which demands immediate clarification via council records to validate price per square metre. The commercial logic is clear: secure at or below the estimated value band for a gross yield near 5%, using the eight days on market and single nearby comparable sale to negotiate. This is a hold asset for medium-term income, not speculative gain, in a low-supply street. While no recent sales exist on Malakoff Street itself, the noted sale at 34 Malakoff Street for $435,000 provides a direct, albeit limited, benchmark. This suggests the current asking price is positioned within a plausible range, but underscores the necessity for a modern, independent valuation to confirm the premium for this specific lot and condition.