10/294-298 Sheridan Street, Cairns North QLD 4870
10/294-298 Sheridan Street, Cairns North QLD 4870
1-bedroom unit in Tropic Towers | first-floor with lift and large balcony | strong 6.4% rental yield in a 29.6% growth suburb | flood overlay noted
This unit offers a rare combination of size and yield in a tightly held complex. At 81m² with one of the largest balconies in Tropic Towers, it outclasses most entry-level apartments in Cairns North. The 6.4% rental yield and suburb growth of 29.6% position it well for an investor seeking immediate income with capital upside. Being vacant and near the airport, it suits a buyer wanting to holiday-let or hold for short-term rental cash flow without delay.
The flood overlay is the primary risk,it restricts future development applications and may affect insurance premiums. However, for a buyer using the property as-is, this is a manageable constraint rather than a deal-breaker. The location near the Esplanade, CBD, and hospital supports consistent tenant demand. This property should be held for rental income first, with capital growth as a secondary benefit.
Detailed Independent Property Report prepared by PropCred Analyst team for 10/294-298 Sheridan Street, Cairns North QLD 4870
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Cairns North is a well-located suburb prized for its proximity to the CBD and lifestyle amenities. Demand is primarily driven by owner-occupiers, including first-home buyers and upgraders, attracted by its accessibility and chronic housing undersupply. While house price trends show conflicting data, the unit market demonstrates strong recent growth, supported by tight rental conditions and solid yields. Future growth is underpinned by significant infrastructure investment and population growth, though rising insurance costs in storm-prone areas present a notable constraint.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
3087m²
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