198 Geddes Street, South Toowoomba QLD 4350

| 1902 structure | 839m² with pool | ±$1.56m entry | yield under 3% | The primary risk is the cost of maintaining a 124-year-old timber house; deferred work on the original roof, stumps, or wiring can absorb the 2.67% rental yield quickly, and the in-ground pool adds ongoing liability without proportional value uplift in this price bracket. The opportunity rests on the 839m² lot at 656m elevation—land is the durable component, and the north-east aspect with solar panels reduces energy outlay long term. This property should be held for five-plus years as a family home where the period charm offsets the maintenance burden, not as a short-term yield play. The rarest competitive edge here is the combination of a fully fenced 839m² block with school catchments within 2km—Toowoomba East State School and Centenary Heights High are above-average public options, and St Thomas More’s at 0.5km adds private choice. The 328m² floor plan with deck, balcony, and open fireplace suits buyers who prioritize character and space over modern efficiency. It is best suited to a owner-occupier family who values lot size and zoning flexibility over cosmetic condition. Comparable sales: 2016 at $740k shows 111% capital growth in ten years; 2008 at $550k reflects 34% growth over eight years. This trajectory suggests land value has been the dominant driver, not the house itself. For a buyer at $1.56m, the same land-to-value ratio reinforces the long-term hold argument. To move forward, direct your search to recent sales of Queenslanders on lots over 800m² within 1km of Toowoomba East State School—this property’s true comparables—and request a structural inspection on the 1902 framing before submitting any offer.