13 Parker Street, Ferryden Park SA 5010

Large block | subdivision potential | near new townhouse comparables | off-market | no overlays The property’s primary buying case rests on its 820m² lot in a suburb where subdivided units now sell above $900,000, meaning a buyer with development intent acquires land at a significant discount to finished product. The council’s indication of up to three attached or two detached homes, combined with the absence of bushfire, flood, or heritage constraints, removes typical approval friction. This suits an investor or developer comfortable with a demolition and build timeline, as the existing house is unliveable and presented as-is. The risk is that the $730,000 purchase price already prices in some development margin, and rising construction costs or council conditions could compress returns if the final yield is lower than modelled. The recent $930,000 sale at 13B Parker Street on a 312m² lot provides a strong benchmark for end-value, but that property is new and finished; the buyer here must carry holding costs through approval and building. The opportunity is to hold and subdivide, selling the cleared land to a builder, or develop one unit for sale and one for rent, given the $570/week rental estimate. Use the lot’s low building coverage and flat elevation to minimise site costs, and move quickly while comparable sales are still rising.