117 Varden Street, Piccadilly WA 6430
117 Varden Street, Piccadilly WA 6430
4-bed 1945 house | 986m² large lot | 8-10% rental yield area | modernised interior | no overlays
This property presents a strong investment case due to its substantial land holding and modernised features within a high-yield rental corridor. The 986m² lot is significantly larger than typical suburban offerings, providing inherent scarcity value, while recent upgrades like the modern kitchen, solar panels, and security installations position it as a turnkey proposition. It serves investors seeking robust cash flow, evidenced by the area’s demonstrated yields, and can accommodate families needing space, supported by nearby schools.
The primary risk is price justification against recent area sales, which have transacted notably lower, demanding a disciplined valuation approach. The opportunity lies in securing a large, improved parcel in an established street where rental demand is quantified. Proceed with an offer strategy anchored to comparable evidence, targeting a yield above 8.5%. Our analysis can validate a competitive offer price and manage locality due diligence.
Recent sales on Varden Street provide critical context:
– 101 Varden (2 bed): $225,000
– 114 Varden (3 bed): $310,000
– 226A Varden (3 bed): $440,000
– 98 Varden (3 bed): $380,000
This establishes a clear value bracket for smaller, older homes. The subject property’s four bedrooms, two bathrooms, and extensive renovations command a premium, but its asking price requires reconciliation with this established market ceiling.
Detailed Independent Property Report prepared by PropCred Analyst team for 117 Varden Street, Piccadilly WA 6430
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Piccadilly presents as a stable, working suburb with a core demographic of young trades professionals, driving consistent demand for family housing. The market demonstrates strong recent price momentum, particularly for units, with houses selling quickly, indicating robust local conditions. Future growth is underpinned by this established demographic base, though the lack of clear infrastructure or school data suggests potential constraints on its appeal to a broader buyer pool.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
986m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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