2/18 Mathoura Street, Midland WA 6056

93-day vendor leaseback | yield near 7% off comparable | demand proven by 2-day listing | overlay may limit reno upside. The vendor’s 90-day rent-back clause creates an asymmetric risk. If the seller stays past settlement your occupancy is delayed without rent or recourse, effectively costing you the $525 a week you would have collected—nearly $6,700 over three months—while you carry mortgage and holding costs. The better opportunity is to negotiate a 30-day cap or per-diem penalty. Given the building’s recent $445,000 sale at a 7.36% gross yield, this unit likely pencils around 5% net even after strata levies, making it a hold-for-cashflow play rather than a flip. Judge it as a rental replacement for an owner-occupier in two years, not a primary home. What is competitively strong is entry price below Midland’s house median with proven letting demand—the 1/18 unit sold in two days in 2025, and this one has been on market less than 48 hours. The ground-floor access, single-level layout, and proximity to the Swan Valley walk-up buyer pool who want lock-and-leave but won’t accept stairs. This best serves a first-home buyer or investor seeking sub-$550k exposure to Midland’s infrastructure growth without strata risk from a high-rise. The two comparable sales show price growth of 106% over five years for a similar unit; that track record should give you confidence to move within the week before the listing’s early velocity draws a competing offer.