117 Kareela Avenue, Penrith NSW 2750

3 bed brick veneer | 657sqm block | Penrith growth corridor | granny flat potential The property’s competitive position is anchored by its 657sqm block in a street where three-bedroom sales have reached $960k, making the price guide realistic for the land content alone. The brick veneer construction and polished floors offer a solid base, while the covered outdoor area and large yard provide immediate livability. This house suits first home buyers seeking a foothold in a growth corridor, or investors wanting land content with rental yield potential near 3%. The 8-day market time suggests limited competition, strengthening a buyer’s negotiating hand. The main risk is the single bathroom and dated kitchen, which may limit appeal to families seeking turnkey homes. Renovation costs of $50k-$80k would bring it to market standard, but the land value alone at $900-$950 per sqm offers a margin of safety. The granny flat potential adds speculative upside, though council approval is not guaranteed. Rental return of $560-$600 per week is achievable, covering holding costs for a patient buyer. Hold for land appreciation or renovate to unlock equity.