213 West Tamar Road, Riverside TAS 7250
213 West Tamar Road, Riverside TAS 7250
Dual living setup | 1371m² large block | 5 mins to CBD | No hazard overlays | Offers pending
This property presents a rare dual-income configuration on a significantly larger than standard lot, a combination uncommon for Riverside. Its separate three-bedroom home and one-bedroom unit serve multi-generational families or investors seeking immediate rental yield, capitalising on strong local rental demand. Proximity to Launceston CBD and a primary school catchment strengthens its appeal to both owner-occupiers and commuters.
The 1961 build requires a thorough structural assessment, with potential renovation costs offset by the dual-income stream. The pending offer status signals competitive interest, validating its market position. Acquire this for long-term hold, leveraging the dual occupancy to service debt while benefiting from land value appreciation in a tightly held location.
Recent sales on West Tamar Road provide context. A two-bedroom unit at 3/395 sold for $398,000, underscoring the premium for this property’s four-bedroom, dual-living format and substantial land holding. This comparison solidifies its value proposition above standard unit stock.
Detailed Independent Property Report prepared by PropCred Analyst team for 213 West Tamar Road, Riverside TAS 7250
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Riverside presents a compelling entry point for buyers seeking a balanced market, with strong capital growth in houses contrasting a recent softening in the unit segment. Demand is driven by lifestyle-oriented buyers attracted to the region’s relative affordability and steady conditions. The housing market is active, evidenced by rapid sales and robust rental growth, while units offer higher yields. Future growth will hinge on sustained lifestyle appeal and broader economic fundamentals, though the divergent performance between property types warrants careful consideration.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
4
Land
1371m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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