5 Warren Street, Port Pirie South SA 5540

1905 build | tenanted until mid-2026 | no overlays | 0.2km to primary school This property presents a low-maintenance entry into the Port Pirie South market, distinguished by its secure, immediate rental income and absence of regulatory overlays, which simplifies ownership. Its prime position within walking distance of a primary school anchors its fundamental rental appeal, best serving an investor seeking a straightforward, tenanted proposition with minimal near-term vacancy risk. The decision hinges on reconciling its recent sale price with the current ask. The 2025 sale at a significant discount to suburb median indicates either a motivated vendor or a property requiring capital, a risk that must be costed. The commercial logic is in holding the existing tenancy for cash flow, then renovating upon lease expiry to align with median rental values. Proceed only with a building inspection to quantify the upgrade path from its 1905 origins. Recent comparable sales data is limited, but the suburb median provides critical context: * Suburb Median House Price: $335,000 * This Property (May 2025 Sale): $110,000 This disparity signals that the property previously transacted well below market norms, demanding a thorough investigation into its condition and a clear justification for the substantial price appreciation now sought.