11/331-337 Lake Street, Cairns North QLD 4870
11/331-337 Lake Street, Cairns North QLD 4870
134sqm 2-2-1 layout | Inner-city near Esplanade | Strong investor demand | Gated pool complex with lift | Flood overlay noted
A generous 134sqm layout is offered by this two-bedroom, two-bathroom apartment, positioned within a gated complex with lift access, secure parking, and a pool. The inner-city setting near the Esplanade and hospital is widely regarded as a key strength, with strong rental demand observed across similar stock. Investors or downsizers are best served by this property, as secure, low-maintenance living and proximity to established infrastructure are highly valued.
Value may be affected by the flood overlay, though its impact depends on floor level and building design. Body corporate fees might be a notable factor, with comparable units charging above $13,000 annually. Price may also be shaped by aspect and internal condition, with morning sun and ocean glimpses valued in similar apartments.
>> Comparable Sales: 16/349-351 Lake Street sold $475,000; 5/349-351 Lake Street sold $455,000 | Property Price Band: $450K-$550K | Value Drivers: 134sqm layout, gated complex with pool, floor level and aspect
Detailed Independent Property Report prepared by PropCred Analyst team for 11/331-337 Lake Street, Cairns North QLD 4870
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
1
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Market Insight
Cairns North is a tightly held, accessible suburb near the CBD, hospitals and transport, with owner-occupiers, first-home buyers and upgraders driving demand. Median house price is $529,000, with annual growth reported at –14.95% by Your Investment Property Mag, though Property.com.au suggests $825,000 and +14.6%, reflecting data divergence. Units median $412,500 with 10% growth. Houses rent at $570 weekly, gross yield 5.32%; units yield 6.15%. Demand is supported by housing undersupply, 4.6% unemployment, population growth and tourism recovery. Future drivers include Bruce Highway upgrades and the $1B hospital expansion; rising insurance premiums in storm-prone zones are the main risk.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
1.09 acres
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