10/4 Mannion Street, Katherine NT 0850

2-bed townhouse | 83sqm on 2874sqm land | tenanted to Apr 2026 | walkable Katherine North CBD position The property’s competitive edge lies in its land-to-floor ratio-83sqm of living on a 2874sqm lot is unusually generous for a townhouse, giving a buyer rare expansion or subdivision optionality in a central location. The dual-living layout with two toilets and separate courtyards suits an investor seeking stable tenancy through April 2026, or a first-home buyer wanting lock-and-leave convenience with future upside. Polished timber floors and air conditioning in both bedrooms reduce immediate capex, while the secure off-street parking behind auto gates adds practical appeal in a regional centre. Risk centers on the 1985 build age and limited recent sales history-the last transaction in 2013 means equity growth has been slow, and the current tenancy locks out owner-occupier use until 2026. The $275,000 ask sits near the estimated median, leaving little discount for negotiation unless the tenant’s rent is below market. Opportunity lies in holding for land value appreciation or eventually subdividing, given the large lot and absence of heritage or flood overlays. For a buyer, treat this as a patient land play with income cover, not a flip.