2 Mackellar Cres, Cook ACT 2614

EER 1.0 | 1968 build | corner block dual access | no overlay risk The Energy Efficiency Rating of 1.0 signals chronic heat loss, likely costing an extra $2,500–$3,500 annually in combined gas and electricity compared to a typical Canberra home with EER 4.0. Ducted gas heating partly offsets this, but summer cooling and winter retention remain weak points; a retrofit of insulation and glazing would run $20,000–$40,000 with a 5–8 year payback on savings. The corner block with dual driveways offers a genuine second-income opportunity via a caravan or boat storage lease at $15–$25 per week, adding modest yield without structural change. This property works best as a land play: hold for land-value appreciation at $696,000 unimproved on a 927 m² site, then rebuild or subdivide when zoning permits. The 14% building coverage on 927 m² gives a low-density footprint rare in Cook—most buyers will see knockdown-rebuild potential, with replacement costing $400,000–$600,000 for a new 4-bedroom home. The priority school catchment for Aranda Primary and Canberra High is a tangible family draw, while the corner position and no bushfire or heritage overlays reduce due-diligence friction for developers. This suits a buyer with a 5–10 year horizon who can absorb energy cost and delay renovation, or a builder-occupier wanting to add value via extension or replacement. The last rental at $430 per week in 2014 suggests current market rent of $680–$745 is achievable, giving a 3.5% gross yield that supports holding costs during a rebuild plan. No sales comparables are provided in the source data to validate the $1,079 per m² estimate, so rely on the unimproved value as a floor—any offer should discount the property by at least 5–10% from estimated value to account for the EER penalty and 1968 build condition. The next step is to order a building and pest inspection focusing on the roof height and insulation gaps identified in the September 2025 survey, then compare the dual-driveway potential against a vacant block in the same suburb to confirm the land premium.