18 Marradong Street, Coolbinia WA 6050

Heritage overlay | 840m² block | 1956 build | rental yield tight but improving The heritage overlay introduces renovation constraints that will cost any buyer a premium in time and approval risk, especially if you are considering a knockdown or significant extension—both of which are effectively off the table on this lot. The 840m² land component is the structural value here, and at a 32% building coverage, there is still room for a modest studio or shed if the heritage conditions permit. Holding this property for the long term with a renovation focused on preserving the original character while upgrading the interior would likely outperform a full rebuild on cost alone. The current rental projection of approximately $995 per week against an estimated value of $2.18 million gives a gross yield just below 2.4%, which is not strong for cash flow but defensible in a growth corridor like Coolbinia where land scarcity supports capital appreciation. What makes this property competitively rare is the land-to-building ratio—most houses in this price bracket in Coolbinia sit on 600m² or less. The location within intake zones for Coolbinia Primary and Mount Lawley Senior High is a genuine demand driver for family buyers, and the absence of flood or bushfire overlays removes the insurance cost penalties seen in other parts of Perth. This property best suits a buyer who intends to hold for at least seven to ten years, focusing on land value growth rather than immediate cash flow. A pre-purchase heritage consultation would be the prudent next step to clarify what is actually permissible before any offer is made.