20 Tabulam Drive, Ferny Hills QLD 4055

**Bushfire overlay adds risk | Sole bathroom is a constraint | Yield is below 4% | Last traded twelve months ago** This property carries two material risks a buyer must price in. The bushfire overlay, while not uncommon in Ferny Hills, introduces insurance premiums and resale friction that could cost 15-20 basis points of yield annually. The single bathroom is the more binding constraint, it limits appeal to families and reduces rental pool depth, effectively capping capital growth below the suburb median. The current mid-range yield of 2.99% is also low for the area given the risk profile. That said, the land-to-building ratio and the rumpus room give genuine future value, either for a light renovation or as a hold for land-banking. This is a property best used as a long-term hold with a value-add event in years 3-5, not as a turnkey family home. The competitive strength here lies in the lot size and zoning potential rather than the house itself, the 607m2 block and bushfire overlay suggest subdivision is unlikely, but a renovation lifting the bathroom count and refreshing the kitchen could push value into the top half of the $1.17m to $1.55m range. The Patricks Road State School catchment and reliable NBN HFC coverage are supporting factors, not drivers. This property serves best for a buyer with renovation capacity who wants to create equity in a medium-growth corridor over a five-to-seven year window, not for someone seeking immediate yield or a low-maintenance hold. The next step is to run a detailed renovation budget against the comparable sales nearby, then decide if the gap between current condition and potential value is wide enough to offset the bushfire risk.