1 Lugger Place, Yanchep WA 6035
1 Lugger Place, Yanchep WA 6035
Large 850m² block | 3/1/3 older-style house | tenanted at $550/week | repositioning potential
This property’s competitive edge lies in its unusually generous 850m² lot within Yanchep’s established precinct, where newer estate housing typically sits on smaller parcels. The 3-bedroom, 1-bathroom layout with three parking spaces and a shed offers practical utility, while the current tenancy provides immediate rental income. The house presents as neat and functional with recent updates to living areas and bathroom, though its older-stock character suggests room for improvement. It suits buyers seeking a balanced entry point—investors wanting yield with future upside, or owner-occupiers prepared to add value over time. The large land component distinguishes it from compact modern builds, making it a rare find in a suburb transitioning toward denser product.
The property’s value may hinge on how its condition compares to nearby renovated houses, as presentation often dictates price in this segment. The existing lease at $550 per week might understate achievable rent, given comparable older homes in the area generate higher returns. The block’s redevelopment potential could appeal to buyers looking beyond the current dwelling, though no planning confirmation exists for subdivision or higher-density use. Maintenance costs on an older structure may offset some investment appeal, and the single bathroom could limit appeal for some families. These factors might influence how aggressively a buyer prices the opportunity relative to its land value.
Detailed Independent Property Report prepared by PropCred Analyst team for 1 Lugger Place, Yanchep WA 6035
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
Execution Risk
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Market Insight
Yanchep, 50km north of Perth’s CBD, is a coastal suburb anchored by the coast and Yanchep National Park. Demand is driven by coastal lifestyle and planned development as a satellite city under Directions 2031. Median house price is $735,000 with 13.08% annual growth, though sources range up to $778,500 and 21.3%. Houses average 17 days on market, indicating low inventory and buyer competition. Gross rental yield is 4.40% with median rent $630. Future growth rests on infrastructure upgrades and new developments. Key risks: affordability constraints for entry buyers and a nearly inactive unit market with minimal sales and rental activity.
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PropCred Estimated Value
Comparable Sales: 80 Lagoon Drive sold near $878k for a similar 3/1 on 860m²; 107 Lagoon Drive achieved around $1.08M for a 4/2 on 870m² | Property Price Band: $800k–$900k | Value Drivers: land size, renovation scope, rental income stability
Bedrooms
4
Bathroom
2
Parking
2
Land
824m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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