13 Lucy Street, Katherine South NT 0850

3-bedroom starter | 1,110m² block in Katherine South | long-held vendor | suited to cosmetic upgrade This property presents a rare entry point into Katherine South on a full quarter-acre block. The 1,110m² lot is the primary structural advantage, offering space for shedding, vehicles, or future subdivision potential that smaller infill sites cannot match. The 2004 purchase date signals a vendor with low cost base, which typically improves negotiating flexibility. The three-bedroom layout with open-plan living serves first-home buyers or investors seeking a solid rental yield in a market with 104 listings-moderate competition that favours decisive buyers. Air-conditioning throughout and tiled floors reduce immediate outlay for a functional home. The known risk is deferred maintenance. The listing’s reference to cosmetic works and paint suggests the interior may feel dated, and a buyer should budget $15,000–25,000 for refresh work. The single bathroom limits appeal to families or sharers. No bushfire or flood risk reduces insurance cost, but the large yard requires ongoing upkeep. For an investor, the opportunity lies in a low purchase price and solid land-to-improvement ratio; for an owner-occupier, this is a foothold property in a stable regional centre. Hold for land appreciation or renovate to unlock equity within three years.