19 Terrace Court, Merrimac QLD 4226
19 Terrace Court, Merrimac QLD 4226
3 bedrooms | 1 bathroom | 661sqm land | development potential in Merrimac
The buying case for this property rests on its land-to-floor ratio: a 122sqm house on 661sqm in Merrimac is competitively rare for its price tier. The land represents the primary value, offering a buyer optionality for future subdivision, a granny flat, or a substantial extension without needing to rezone. This configuration suits investors seeking land banking with immediate rental income, or a small family wanting room to grow into the site. The single bathroom is a constraint, but the land position more than compensates for it.
The key risk is the dated single-bathroom layout, which limits appeal to owner-occupiers and may cap rental growth until renovated. The buyer’s cost is the need for a capital works budget of roughly $50,000–$80,000 to modernise the interior and add a second bathroom, unlocking the land’s full value. The opportunity is to hold the existing house as a low-maintenance rental while the land appreciates, then develop or sell with a DA in place. Use this property as a land play with a cash-flow buffer.
Detailed Independent Property Report prepared by PropCred Analyst team for 19 Terrace Court, Merrimac QLD 4226
Checks found:
Value Risk
!
1
Liquidity Risk
✓
Planning Risk
✓
Income Risk
✓
Execution Risk
!
1
Market Insight
Merrimac presents a compelling, dual-track market where houses demonstrate robust capital appreciation, while units offer stronger rental yields and faster sales activity. Demand is currently driven by investors seeking value in the unit segment, evidenced by surging rents and swift transactions. The housing market remains active with solid price growth, though units are transacting more quickly. Future growth hinges on sustained rental demand, though the divergence in performance between property types suggests a nuanced investment landscape.
PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
661m²
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