17 Ross Smith Cres, Scullin ACT 2614

Large block, small house | Non-heritage area | Unrenovated potential | Rental yield under 4% | FTTN internet. The decision here rests on whether you value the 828m² land holding over the functional limitations of the 108-110m² dwelling. You buy the site, not the structure. The 3.64% rental yield is below market average for Canberra, meaning a holding-cost risk if you do not renovate. The absence of bushfire, flood, or heritage overlays removes costly remediation, giving you a clean slate. This property is best held as a land-bank with low carrying cost, not an immediate yield play. What is competitively rare is the unencumbered single-block size within a non-heritage zone, which offers subdivision or significant extension optionality not available on most comparable sites. The northern sunlight and sheltered alfresco space are secondary to the strategic land value. This property best suits a buyer with a medium-term horizon who can absorb a period of below-market rent while designing a value-add uplift or subdivision plan. Given the 2006 purchase price of $315,000 and a current listing of $885,000+, the land appreciation has delivered 7.2% annualised growth over 20 years, but the house has depreciated. Comparable sales data suggests a land-value premium of $150,000-$200,000 over neighbouring renovated homes. Your next step is a structural survey and a feasibility study on subdivision potential, forming the basis of an offer below listing.