201 Magellan Street, Lismore NSW 2480

High-set character home | renovated interiors | flood overlay present | walk to Lismore Square | 4 bed, 2 bath, 3 car This property is competitively strong for its combination of a renovated 1920s character home with very high ceilings and two living areas, set on a manageable 550m² lot with three-car garaging. Its high-set configuration, covered front verandah with sporting-field views, and recent internal updates make it rare for the suburb, where original homes of this size and finish are limited. It serves best a family or owner-occupier seeking a walkable location near Lismore Square, who values period charm with modern convenience and is comfortable with the elevated design typical of the area. The flood overlay may materially affect the property’s value and sale price, as the 2022 flood impacted the residence for the first time on record, introducing a risk that buyers should weigh carefully. The recent renovation and current lease suggest strong rental demand, but the overlay could limit future buyer pool or financing options. The property’s high-set form and subfloor garaging may offer some resilience, but a buyer should consider flood history and insurance costs when forming a view on price.