14 Grimstead Street, Elizabeth North SA 5113
14 Grimstead Street, Elizabeth North SA 5113
4 bed, 2 bath, 2 car | Built 2009 on 343m² | Tenanted to April 2027 at $550/week | Compact, modern infill in Elizabeth North
This house is a genuinely rare find for Elizabeth North, where much of the stock is older, larger-block housing from the 1960s and 1970s. The 2009 build gives you a modern layout with four bedrooms, two bathrooms, and a low-maintenance 343m² allotment that simply doesn’t exist in most of the suburb. The drive-through rear roller door and two front-access roller doors are practical features that add real utility, particularly for tradies, caravan owners, or anyone needing secure off-street parking. With a lease locked in until April 2027 at $550 per week, this property serves the investor buyer exceptionally well, offering immediate income stability without any vacancy risk. For a first-home buyer or young family, the four-bedroom configuration and easy-care gardens also work, though the tenancy means you’d be waiting to move in.
The gross yield sits around 3.9% to 4.1% based on the current rent and the visible asking range, which is reasonable for a modern house with this level of finish. The smaller land size compared to older local stock may limit capital growth potential, but it also reduces maintenance and appeals strongly to the rental market. The active land releases on Grimstead Street suggest the area is still developing, which might support future demand. School catchment certainty is not fully established, so a buyer with school-age children should verify that independently. The property’s value is most likely to be influenced by the strength of the existing tenancy, the quality of the 2009 build, and the practical garage access, rather than land banking potential.
|| Comparable Sales: 13 Grimstead Street sold at $716,000; 32 Catalina Road, Elizabeth East valued around $658,000 | Property Price Band: $700,000–$740,000 | Value Drivers: Modern build quality, secure parking with drive-through access, long-term tenancy income stability
Detailed Independent Property Report prepared by PropCred Analyst team for 14 Grimstead Street, Elizabeth North SA 5113
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Elizabeth North, in Adelaide’s northern corridor, is a high-growth, affordability-driven market. House prices have risen 15% annually to a $525,000 median, with 217% growth over five years. Demand centres on buyers aged 20-29, including single-parent households and labourers, drawn to gross yields of 4.95% for houses and 5.07% for units. Annual sales of 91-113 houses and 127 rental listings indicate active churn. Main North Road provides city connectivity, and school catchments exist, though quality ratings are undisclosed. The key constraint is scarce supply: only 12 properties for sale and 8 for rent. Household incomes sit 44.2% below Greater Adelaide’s average, with many mortgages at $1,000-$1,399 monthly, heightening rate sensitivity. Rents for houses are $450-$465 weekly; units $375, supporting investor demand.
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PropCred Estimated Value
Comparable Sales: 13 Grimstead Street sold at $716,000; 32 Catalina Road, Elizabeth East valued around $658,000 | Property Price Band: $700,000–$740,000 | Value Drivers: Modern build quality, secure parking with drive-through access, long-term tenancy income stability
Bedrooms
4
Bathroom
2
Parking
2
Land
343m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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