13 Francis Street, Balaklava SA 5461

Large family home on rare 2492m² block | Bushfire overlay | Near schools | High land component | 1967 build This property’s primary strength is its substantial, 2492-square-metre landholding in a convenient location, a rare offering that provides significant future flexibility. The large building footprint and established gardens suit a family seeking space, while proximity to schools supports long-term occupancy. It best serves a buyer prioritizing land asset growth over modern fittings, given the older build and single bathroom configuration. The bushfire overlay imposes specific compliance costs and may limit future development, directly impacting holding expenses. The estimated rental yield is modest against the capital outlay, suggesting this property is a land-value play rather than an income generator. Acquire for long-term capital growth through land appreciation, accepting the costs of updating the dwelling to secure a tenant or occupant. Recent comparable sale at 13/23 Francis Street: a 3-bedroom, 2-bathroom house on 447m² sold for $322,555 in May 2024. This highlights the substantial premium commanded by larger land parcels, though the older dwelling at 13 Francis Street requires a value adjustment for its dated condition and single bathroom.