109 French Street, Risdon Park SA 5540

| 1920 build structural risk | conflicting bushfire and flood overlays | $395k price near $405k valuation | long-term tenant til April 2027 The 1920 structure carries known deferred maintenance risks; older homes in this price bracket often conceal wiring, plumbing, or foundation issues that could cost $15,000 to $30,000 in the first two years. The contradictory bushfire and flood overlays create insurance premium uncertainty, adding $800 to $1,200 annually. Yet the tenant in place until 2027 provides immediate cash flow at $490 weekly, supporting a net yield near 6.5 percent—rare in this market. This property is a hold-and-collect proposition, not a flip. Competitively, the 713m² lot with rear yard access and existing tenancy makes it a strong low-maintenance entry for an investor seeking geographic diversification. The main bedroom suite with ensuite and walk-in robe adds rental appeal above comparable stock. This suits a buyer wanting hands-off income, not a renovator or owner-occupier. Proceed only after commissioning a building and pest inspection and verifying insurance quotes for the conflicting overlays.