1 Fairfax Drive, Moresby WA 6530

Elevated acreage home | 1992 build | 3 bed, 135m² | 1.19ha with rural-residential scale | Bushfire & flood overlays This property presents a competitively strong, larger-than-average residential holding in the semi-rural Moresby Heights precinct, offering the space and utility sought by rural-residential buyers. Its 1.19-hectare lot size, reliable services, and proximity to Geraldton anchor its appeal for buyers seeking a lifestyle property with sheds, paddocks, and ocean views, positioning it within a clear local buyer profile. The established building, while modest in bathrooms, provides a functional base on a lot that captures the area’s character of acreage homes. The decision hinges on accepting the quantified risks of the bushfire and flood overlays, which impose specific compliance costs and potential insurance premiums, against the opportunity of securing a scaled property in an area witnessing long-term development interest. For a buyer whose use-case aligns with the land’s utility, it represents a hold property, with its future value tied to the broader evolution of Moresby’s large-lot zoning and Geraldton’s expansion. A recent comparable sale at 11 Fairfax Drive for $675,000 in June 2024 establishes a direct benchmark. That property offered a superior house configuration on a virtually identical lot, but its sale price validates the high-six-figure market for one-hectare lots with established homes in this immediate location. This sale substantiates the value proposition for land of this scale, suggesting the subject property’s value is anchored by its land component, with the house contributing functional utility.