12 Shepherd Street, Katherine South NT 0850

Highset | 5-bedroom | 1180m² lot | Rented $600/week till Feb 2026 The primary buying case here is the dual-living configuration, which is rare for Katherine. The highset design with two separate bedrooms and a living area downstairs effectively creates a self-contained wing, giving a buyer immediate rental income or multi-generational flexibility without renovation. The 1180m² lot with tropical gardens, reticulation, and under-house storage offers genuine outdoor utility, while full fencing and 292m² of building area signal a property that functions well above its price tier. This suits an investor seeking a cash-flow-positive hold or a local family wanting separation of spaces. The key risk is the street’s thin sales history-only one sale in the last year at a $250k median-which makes exit timing uncertain and valuation opaque. The current rent of $600/week is below the estimated potential of $630, offering a small upside upon lease renewal, but the property’s reliance on a single tenant profile (government or healthcare workers) concentrates demand. Buyers should budget for minor deferred maintenance typical of highset homes in tropical climates. Hold for rental yield, not short-term capital gain; refinance after the current lease ends to extract equity if the market firms.