2/58-62 Ninth Avenue, Railway Estate QLD 4810

Flood risk timeline | 2022 entry price point | 52% annualised growth since | 21-day turnover in market The valuation gap between Domain’s $395k midpoint and the current $455k asking price signals that market momentum—not intrinsic improvements—is carrying this unit. Flood exposure adds a latent holding cost that materialises when you attempt refinancing or resale during a wet season. Given the 52% annualised growth since the 2022 purchase, you are buying near the top of this cycle unless the property can be held through a minimum five-year horizon. This is a hold-for-equity unit, not a flip. What makes this unit competitively rare is its 97-square-metre internal footprint with a courtyard and fully fenced yard—unusual for a two-bedroom apartment in the Townsville market. The combination of proximity to Railway Estate State School and a sub-30-day turnover indicates strong tenant demand at the $450 weekly rent achieved last year. This property serves best as a long-term yield play for a buyer who can self-insure against flood and ride the next growth wave in a corridor that has posted 12% annual house price growth. The recent comparable sale at $220,000 in October 2022 versus today’s $455,000 ask establishes a valuation inference that this price already incorporates 18 months of forward growth. If you act, verify the flood overlay map and obtain a premium-adjusted insurance quote before committing—that single figure will tell you if the numbers hold.