20 Stakes Cres, Elizabeth Downs SA 5113

1960 duplex | 3 beds on 512m² | renovated interior | quiet street | below-median rent This property presents a high-yield entry into the northern suburbs, combining a renovated, low-maintenance home with a substantial land parcel atypical for a duplex. The configuration—three bedrooms on a quiet, established street—caters to both small families and long-term tenants, with the current rental listing deliberately priced below market to secure occupancy swiftly. Its recent, complete renovation mitigates immediate capital demands, positioning it as a turnkey proposition for an investor seeking reliable cash flow with modest upkeep. The primary risk is the ambiguous duplex title and building size discrepancy, which complicates financing and future comparables. The 2023 sale price is irrelevant to current valuation, indicating a speculative flip; your basis is the present $492,000 estimate. Acquire only with a confirmed strata report and building inspection. The commercial logic is clear: secure the tenancy at $450, then align rents with the suburb median upon renewal. This is a hold asset for yield, not speculation; its value is in sustained income, not short-term appreciation. Sold 26 April 2023 for $245,000. This prior sale is a transformational event, not a comparable. It signals a vendor’s substantial renovation investment and profit expectation, resetting the cost base entirely. Your valuation begins from current market data, not this historic figure.