1/43 Grevillea Road, Katherine East NT 0850

2-bed unit, 252m² lot, renovated kitchen, fenced courtyard | walking distance to schools and shops | reliable rental yield near 9% | price reduced, short listing time This unit offers a rare combination of a low-maintenance footprint with a genuinely useful 252m² lot, giving you private outdoor space and direct gate access to local shops. The open-plan layout with air conditioning throughout and a renovated kitchen makes it immediately livable. For an investor or first-home buyer seeking a solid rental yield of nearly 9% based on recent $400 weekly rent, the numbers are compelling. The price reduction to $240,000 positions it competitively in the Katherine market, and the short listing time suggests motivated selling. The primary risk is the unit’s location in a complex, which can limit capital growth compared to standalone houses and may attract strata fees not fully disclosed. The 296-day listing period in 2024 signals previous buyer resistance at higher prices, so your negotiation leverage is real. The reliable NBN and 4G coverage are supporting conveniences, not value drivers. Hold this property for steady rental income and gradual appreciation in a stable regional market, or use it as a low-entry point to establish a property portfolio in the Northern Territory.