22 Nesbit Road, Greenfields WA 6210
22 Nesbit Road, Greenfields WA 6210
890sqm block | R12-20 zoning | 1965 original house | redevelopment potential | Greenfields setting
The 890sqm block with R12-20 zoning is the primary value driver, offering rare future development optionality in Greenfields. The unrenovated house provides immediate income at roughly $530 weekly, allowing low-cost land holding. This suits investors or developers with a medium-term view, and owner-occupiers willing to renovate.
The dated condition is the key risk, requiring capital for modernisation, but it ensures the price is land-weighted. The opportunity is Mandurah’s growth corridor, where density incentives may emerge. The advised path is to hold for cash flow and monitor planning changes, with a view to subdivision or sale to a developer within ten years
Detailed Independent Property Report prepared by PropCred Analyst team for 22 Nesbit Road, Greenfields WA 6210
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Market Insight:
Greenfields is a well-established residential suburb experiencing strong buyer demand, with houses selling significantly faster than the broader Mandurah region. This momentum is driven by owner-occupiers, evidenced by a high proportion of mortgaged properties, seeking value in its diverse community pockets. The market demonstrates robust capital appreciation, particularly for houses, supported by tight rental conditions and rising yields. Future growth is underpinned by this sustained demand, though the minimal unit sales volume indicates a market preference for houses, which presents a supply constraint for that segment.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
890m²
Assessments Delivered Today
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