1/22 Cornelius Street, Coombs ACT 2611

Sub-$500k Coombs unit | solid 6.15% yield | no flood or bushfire risk | below-median price in a rising suburb. This unit sits 15% below the Coombs 2-bed median, giving you immediate entry below market level. The 6.15% rental yield is roughly 1.5-2% above typical Canberra unit returns, supported by a high-quality tenant currently paying $530-535 weekly. The 2021 purchase at $330k shows over 25% capital growth in four years, but valuations vary widely from $400k to $558k, reflecting platform noise rather than weakness. For a buyer, this holds best as a long-term income property; owner-occupiers should expect slower capital lift given the 36-unit complex density and 85% owner mix, which limits forced sales but also liquidity. What makes this competitive is the yield paired with secure gated access and a storage cage – rare for sub-$500k units. The 6/10 energy rating and 5G coverage support modern tenant expectations without being decisive. This suits a cash-flow focused investor or a first-home buyer willing to trade some growth potential for a lower entry point in a developing suburb with school catchment for Charles Weston. The single most actionable step now is to confirm the current lease expiry and inspect the building body corporate minutes for any upcoming capital works levies – one unexpected special levy could erase two years of rental surplus.