10/51 Knuckey Street, Darwin City NT 0800
10/51 Knuckey Street, Darwin City NT 0800
CBD apartment with parking | 76m² full-size one-bedroom | Strong rental demand in building | Central Darwin position | Estimated value $324,000
This unit is positioned as a competitively rare entry-level CBD offering with secure parking and a full-sized 76m² floorplan, which is larger than many comparable one-bedroom apartments in Darwin City. The central Knuckey Street location provides exceptional walkability to Charles Darwin University, Smith Street Mall, and Woolworths, making it well-suited for investors targeting student or professional tenants. The building’s recent comparable sale of unit 7/51 for $260,000 in August 2024, followed by a $460/week rental listing, signals active transaction and leasing activity that supports valuation confidence. The property’s tiled throughout finish, balcony, and city views add practical appeal for owner-occupiers seeking low-maintenance living.
The primary risk lies in potential higher strata levies and building maintenance costs typical of inner-city apartment stock, which should be verified through a body corporate review. The property last sold in 2001 and has been marketed both for sale and rent, suggesting possible deferred updates that may affect marketability. However, the building’s standardized apartment stock with parking makes comparable sales reliable for valuation, and the FTTP NBN connection provides a supporting value add for remote workers. The opportunity is strongest for buyers seeking a low-maintenance investment with proven rental demand, or as an owner-occupier entry point into Darwin’s CBD market.
Detailed Independent Property Report prepared by PropCred Analyst team for 10/51 Knuckey Street, Darwin City NT 0800
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
Darwin City presents as a tightly held, apartment-dominant inner-city market experiencing a robust recovery. Investor demand is particularly strong, driven by compelling rental yields and significant cash-flow appeal, supported by firm rental growth. Recent price momentum is evident across both houses and units, fueled by constrained supply and resilient demand. Future growth is underpinned by this supply-demand imbalance and strong total returns, though the market faces headwinds from higher holding costs and borrowing constraints which temper affordability advantages.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
690m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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