20/404 Payneham Road, Glynde SA 5070
20/404 Payneham Road, Glynde SA 5070
2-bed retirement unit | $550k Jul 2025 sale | ~$620/wk rent | arterial road trade-off
This unit sits in a well-established complex on Payneham Road, and its main strength is the low-maintenance retirement-living format that suits downsizers and older buyers wanting to stay in the inner east without the upkeep of a house. The 2-bed, 2-bath layout with one parking space is practical and compact, and the recorded sale at $550,000 in mid-2025 aligns with the broader range seen across similar units in the same building, where three-bedroom variants have traded between roughly $495,000 and $520,000 in recent years. For a buyer seeking a lock-and-leave option with active rental demand, this property offers a straightforward entry into a convenient, established suburb with good access along Payneham Road.
The arterial location may be the main factor to weigh, as traffic noise and exposure can temper appeal for owner-occupiers who prioritise quiet, though it also supports strong visibility and rental interest. The absence of confirmed detail on floor level, aspect, or internal condition means the final value could shift meaningfully depending on how the unit presents inside and whether it captures natural light or faces the road. The implied gross yield of roughly 5.7 to 5.9 percent based on the 2025 sale and current rent levels suggests reasonable income potential, but buyers should factor in strata fees and the constraints of retirement-living stock when comparing against freestanding houses in the suburb.
|| Comparable Sales: 15/404 Payneham Road sold $520,000 in Oct 2023; 1/404 Payneham Road sold $515,000 in Nov 2022 | Property Price Band: $500K–$600K | Value Drivers: internal condition, floor level, aspect and road exposure
Detailed Independent Property Report prepared by PropCred Analyst team for 20/404 Payneham Road, Glynde SA 5070
Checks found:
Value Risk
!
1
Liquidity Risk
✓
Planning Risk
!
1
Income Risk
✓
Execution Risk
!
1
Market Insight
Glynde’s demand is anchored in its inner-north Adelaide position, quick links to Norwood and the Parade precinct, and the council’s recent attention to road safety, drainage renewals and refined truck access planning that keep amenity compelling. Buyers favour established homes and scarce newer units for suburb character, while tight listings plus rental yields around 2.6% for houses and 4% for units keep investors engaged, even though those modest yields and limited turnover are the main risks amid the infrastructure-led upside. Prices have been largely flat to softly positive over the past six months, with houses up just 0.4% year-on-year while units continue to run ahead on roughly 18.8% growth, so position for a steady entry and let future amenity and council work unlock broader gains.
PropCred Estimated Value
Comparable Sales: 15/404 Payneham Road sold $520,000 in Oct 2023; 1/404 Payneham Road sold $515,000 in Nov 2022 | Property Price Band: $500K–$600K | Value Drivers: internal condition, floor level, aspect and road exposure
Bedrooms
2
Bathroom
2
Parking
1
Land
1.1 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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