18 Elms Street, Bundamba QLD 4304

Flood risk from the Bremer River floodplain | Tenanted unit locks out vacancy options until December 2026 | Storm damage and asbestos-era repairs not costed | Renovation budget likely undercooked at this price point This duplex sits in a flood-affected pocket of Bundamba, where water ingress has already compromised ceilings and walls in both units. The cost of storm repair, potential asbestos abatement, and the lost opportunity to increase rent on Unit 1 during its vacancy must be built into your net return. On a commercial basis, the combined rental income of $350 per week from one unit alone yields below 2% on the $879,000 guide, unless you renovate and re-let both sides above $600 each. Unless you have cash for the full renovation and a tolerance for slow capital growth in a high-supply corridor, treat this as a long-term hold with forced equity uplift, not a cashflow play. What is competitively rare here is the 854 sqm corner lot in a street where three-quarters of owners live in their homes, which signals limited turnover and a tighter resale pool. The duplex structure with separate patios and sliding glass doors on each side gives you two income streams from one title, a feature hard to find under $900k in Brisbane’s outer ring. This property best suits a hands-on investor or a renovator-occupier willing to live in Unit 1, fix the storm damage, and refinance against improved valuations after work is complete. The comparable data from 2017 and 2020 sales at $380,000 and $370,000—both private treaty and both through the same agency—suggest this property has tracked median house growth for Bundamba but has not outperformed. Your value inference: if you can bring both units to a rentable standard for under $50,000 total, the combined valuation after work could reach $1m, but without those repairs, you are paying near the top of the suburb’s price range for an impaired income stream. If you want a guided walkthrough of the flood mapping and a renovation cost template built for this specific lot, call the agent and ask for the full due diligence pack before you offer.