20 Hovea Cres, Wundowie WA 6560

R20 zoning | 1947 build | 265k prior sale | 9 days on market | This property carries genuine subdivision potential under R20 zoning, but that opportunity is already priced into the $495k ask given the recent $265k sale. The 1012m² lot is the value driver, yet council approval remains a risk that could cost months and legal fees. The house itself is a renovated cottage with limited structural upside due to its age and single bathroom. For a buyer, the commercial logic hinges on holding for subdivision or land banking, not on the dwelling. This is a speculative play, not a turnkey home. What makes this competitive is the large block in a tightly held crescent with no overlays, offering rare dual access and subdivision optionality. The 157m² footprint provides decent interior space for a family, while walkable proximity to school and IGA adds livability. This suits a buyer with patience and capital to navigate council processes, or a hands-on owner-occupier wanting land for future yield. Comparable sales at 19 and 74 Hovea Crescent suggest a $50k to $80k premium over immediate neighbours, so the listing is aspirational—negotiate hard or wait for market reality to correct the price.