10 Cassowary Street, Innisfail QLD 4860

Old Queenslander | Tenanted investment | Below valuation | Large block | Near CBD This property presents a clear opportunity as a tenanted, high-set Queenslander on a substantial block, positioned close to the Innisfail CBD. Its current listing price sits notably below independent valuation, creating an immediate entry advantage. This house serves an investor seeking a lower-purchase-price property with existing rental income, offering a foundation for both cash flow and potential capital growth from the land component. The primary risk is the significant price variance with a nearby comparable sale, indicating potential deficiencies in condition or lease terms not visible in the data. The substantial appreciation since its last sale also suggests a cycle of lower capital growth ahead. Proceed with a building and pest inspection to quantify refurbishment costs, as the price discount likely reflects needed capital expenditure. This is a hold-for-income property with a value-add potential through strategic renovation. * **14 Cassowary Street:** Sold for $349,700. A 3-bedroom property on the same street. This recent sale establishes a strong value benchmark for the street, implying the subject property’s lower price requires investigation into its specific condition or tenancy structure.