11 Yirang Street, Crangan Bay NSW 2259
11 Yirang Street, Crangan Bay NSW 2259
4 bed house, 464sqm, Crangan Bay | 1 week on market, median area $1.175m | Recent May 2024 sale at $487k | School catchment, coastal suburb
This property offers a rare configuration edge for a buyer: a four-bedroom single dwelling on a manageable 464sqm block in a coastal suburb where median prices for similar houses sit at $1.175m. The key competitive strength is the recent May 2024 purchase at $487k, which creates a significant cost base advantage for the current owner, but also signals that the property may have been substantially improved or is being flipped. The 243sqm floor size is generous for the land, suggesting good internal space. This house best serves a family buyer seeking a turnkey home in a school catchment area, or an investor looking to capitalise on a recent renovation play.
The primary risk is the wide gap between the asking price guide of $1.26m-$1.29m and the estimated value range of $755k-$845k, which indicates potential overpricing relative to recent sales data. The zero percent auction clearance rate in the area and 100 average days on market suggest a slow market where buyers hold negotiating power. The opportunity lies in the property being only one week listed, meaning a buyer can test the vendor’s resolve early. The commercial logic is to offer below the guide, using the recent sale price and local market softness as leverage. Hold this property for medium-term capital growth in a coastal residential zone, or use it as a family home with good school access.
Detailed Independent Property Report prepared by PropCred Analyst team for 11 Yirang Street, Crangan Bay NSW 2259
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
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Market Insight
Crangan Bay presents a market defined by conflicting signals. While described as a sought-after lakeside suburb, demand is subdued, with houses taking an extended period to sell. Price data is inconsistent, reflecting a market lacking clear direction. The dominant buyer profile remains unclear, though the area’s amenity appeal suggests owner-occupiers are the primary cohort. Future growth is constrained by a fundamental imbalance where supply exceeds demand, limiting the potential for organic capital appreciation. This environment demands careful scrutiny, as the suburb’s positioning has not translated into sustained price momentum or competitive market conditions.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
464m²
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