1/194 Auckland Street, South Gladstone QLD 4680

2-bed townhouse | 53m² lot | tenanted at $350/week | South Gladstone entry point The property presents a rare entry-level position in a market where two-bedroom houses average 42 days to sell, and the 53m² lot with a courtyard offers a low-maintenance footprint that suits first-time investors or those seeking a lower-risk hold. The existing tenancy at $350 per week, with a recent increase in 2024, provides immediate cash flow and removes vacancy risk during settlement, while the air-conditioned open-plan layout and single carport meet core tenant expectations in a rental market where 45% of nearby properties are renter-occupied. This unit best serves a buyer prioritising yield over capital growth, particularly one comfortable with a body corporate fee near $4,000 annually. The primary risk is the disconnect between the current asking price and the prior sale of $240,000 two years ago, which suggests the market may not support the implied uplift without a rent increase or improved local demand. The body corporate costs and council rates together exceed $7,200 per year, consuming nearly 40% of gross rent, leaving a thin net return that demands disciplined expense management. A buyer could improve the position by negotiating toward the lower end of the valuation range or by targeting a rent review at lease renewal to push toward the $360 per week appraisal. Hold this property as a long-term income strip, not a flip, and watch South Gladstone’s proximity to the CBD for gradual demographic firming.