15/138 Morrison Road, Midland WA 6056
15/138 Morrison Road, Midland WA 6056
2 bed unit | second floor | small complex | recent rental evidence | Midland corridor | buyer fit unclear from visible data alone
The buying case rests on the recorded rental of $550 per week from June 2024, which suggests the unit has attracted tenant demand in a well-connected suburb. The second-floor position and open-plan layout with a semi-ensuite bathroom setup are practical features for a first-home buyer or investor seeking lower-maintenance living. The building contains only 24 properties, which may reduce noise and common-area competition compared to larger complexes. However, the property’s sale history shows a wide spread in previous prices, and the median for similar units in Midland is not directly comparable here due to differences in floor level, condition and timing.
The main risk is that the current price guide cannot be verified from the available data, and no recent sale at this address exists to anchor value. Strata levies and council rates remain unconfirmed, which could materially affect holding costs. An opportunity lies in the property being described as brand new at listing, but whether any renovations have occurred since the earlier sale in 2019 needs to be established. Without clarity on the asking price and outgoings, confidence in the property’s fair value relative to the local market cannot be formed.
Detailed Independent Property Report prepared by PropCred Analyst team for 15/138 Morrison Road, Midland WA 6056
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Midland is a dynamic, mixed-use suburb undergoing significant urban renewal, attracting a young demographic and driving strong demand. This regeneration is fueling exceptional capital growth across both houses and units, with a notably rapid sales pace reflecting a highly competitive market. Future prospects are anchored in the continued execution of its large-scale redevelopment, though its evolving nature presents inherent supply and valuation risks typical of a transforming precinct.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
89m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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