12/4 Lee Place, Noranda WA 6062

Bushfire overlay present | NBN Fibre to Node | Tenancy expires April 2025 | Strata complex with 2 units | Value gap between estimates The property carries two material risks: a bushfire overlay restricts future building modifications and may raise insurance costs, while the Fibre to the Node connection limits appeal to remote workers who require high-speed reliability. The December 2024 purchase at a significant discount to current estimates suggests the buyer acquired a distressed or undervalued lot, but the wide $480k–$683k value range indicates market uncertainty that you absorb as the next purchaser. This is a hold for stable rental income only—do not expect short-term capital growth unless zoning changes occur. Its competitive strength is the below-market $400/week tenancy, a fixed income stream through April 2025, while being one of only two units in the complex, limiting supply risk for the strata. The property serves a first-time investor seeking a low-entry-cost, cash-flow-positive entry to the Bayswater market, where rising rents could yield a re-lease above $580/week after expiry. To validate the provider’s estimates, schedule a strata report review and a bushfire overlay assessment to quantify your actual cost and reposition your offer accordingly.