17 Allington Street, Elizabeth Grove SA 5112

3 bed house | 800 sqm block | Flood detected | Long hold possible The flood overlay introduces a specific risk: insurability premiums and potential resale friction, which may cost a buyer $5-10k annually in higher premiums versus similar dry blocks. The 800 sqm land size, however, offers subdivision or development optionality, with the current house providing immediate rental income at a 4% yield. This property is best held as a long-term land bank with interim cash flow. Competitively, the land-to-building ratio is strong for the area—rare at this price point. The 126 sqm three-bedroom layout suits a first-home buyer or investor seeking a stable yield in a growing corridor. Proximity to primary school adds convenience. For the right buyer, this addresses both shelter and future capital growth. Next step: commission a flood risk report to quantify mitigation costs before making an offer.