11A Cornelius Street, Clontarf QLD 4019

Flood overlay identified | Renovator’s economics tight at 88m² floor area | No car accommodation | New build potential offset by site constraints The flood overlay introduces both a tangible insurance cost and a liquidity discount upon resale, effectively compressing the buyer’s margin any renovation budget must account for elevated premiums and restricted buyer pool at exit. The 88m² floor area on a 632m² lot is commercially logical only if the structure is stripped back or removed the land value, at approximately $1.4m per hectare for the comparably sized neighbour, supports a knockdown rebuild, but the 14% building coverage and single-level footprint limit passive holding income to roughly $575 per week, barely covering holding costs before debt service. This property suits a builder or experienced renovator prepared to carry risk through a structural intervention it is not a turnkey hold. What makes this competitive is the scarcity of freehold land under $1.1m within walking distance of Clontarf Beach State School and reliable 5G coverage. The detached form and absence of body corporate give you full control over timeline and staging, which matters more to an investor or owner-occupier who wants to phase work without strata constraints. For a buyer prepared to manage a renovation program and hold through a market cycle, this represents an entry point into a coastal catchment with constrained supply. The comparable at 11 Cornelius Street, with double the land and five times the floor area, sold for a median of $1.45m against your estimated $1.014m, confirming the land component in this street commands a floor price near $1,000 per square metre. That gap means the site itself carries a credible base value, even if the current house does not. Your next step is to obtain a flood level certificate and builders assessment for slab lift or removal before negotiating.