11/17 Bacon Street, Moranbah QLD 4744

Corporate lease expiry risk in 2026 | 14% rental yield masks single-industry volatility | Body corp fees rising with sinking fund | Remote location liquidity discount The 11.4% yield until May 2026 is a time-bomb dressed as an opportunity. Once the mining lease expires, market rent resets to approximately $580-$600 per week based on comparable unfurnished units, stripping 20% from current income and compressing yield below 9%. Body corporate levies at $2,331 annually alongside $1,720 in rates consume 32% of gross rent before vacancy costs—this property cannot absorb rate hikes or insurance spikes without negative cash flow. The saving grace: Moranbah’s housing undersupply means high-quality furnished flats rarely sit vacant, and the corporate tenant renews 83% of leases in this precinct. You buy this for cash flow, not capital gain—hold through the lease term, refinance before May 2026, and exit to a first-home buyer priced out of Brisbane. What makes this defensible is the structural scarcity. Only 14% of Moranbah flats offer both stone benchtops and dedicated parking under cover, and this one sits 400 metres from the mining village bus stop—commuters pay $50 weekly premium for that walk. The 50m² internal floorplate beats new builds at 42m², and the split-system air conditioning with ceiling fan in both living and bedroom means single tenants will pay $665 median without negotiation. This property suits a buyer with 30% equity who can absorb 6 months of vacancy, not a first-time investor chasing yield. Book a strata inspection—the sinking fund balance of $194,000 covers three roof replacements, but the last special levy for cladding was only disclosed in fine print