16 Blackman Street, Tully QLD 4854

high yield | zoning risks | conversion hurdles | tenant dependency The property’s primary risk is its reliance on high-capacity shared living for yield, which depends on council tolerance of the current use and tenant turnover costs. Should conversion to four separate units require reclassification, buyer faces fire safety upgrades and planning delays that could add 12–18 months and over a hundred thousand dollars in costs. The $684,000 valuation reflects residential land value with a premium for existing income, so the buyer is paying for immediate cash flow, not land upside. This house is a hold for yield, not a flip for capital gain. What is competitively strong here is the rarity of a 20-bedroom income stream on a single residential title in Tully, where median house yields are lower. The four-cluster layout gives a buyer immediate diversification of income within one property, and the 1011m² lot allows for future unit subdivision if local planning shifts. This suits an investor targeting cash flow with patience for regulatory outcomes, not a speculator. For a buyer ready to underwrite the tenant management and hold for five years plus, the property’s income buffer against market swings is the decisive edge. To proceed, secure a building classification report from a private certifier and model two scenarios: current use and converted use, then stack the net yields against Tully’s median of $400 per week to see if the premium holds.