221 Mersey Road, Largs North SA 5016

New build | 254m² internal | 3 bed, 3 bath, 3 ensuite | Flood overlay | $1.55m list This property presents a compelling proposition for an owner-occupier seeking a substantial, modern home with a premium configuration. The internal scale of 254 square metres, combined with three full ensuites and a dedicated study, creates a rare floor plan that prioritises private space and functionality, distinguishing it from typical new builds. Its completion in 2025 means immediate occupancy with the benefit of full builder warranties and contemporary systems like ducted climate control and solar panels, reducing future operational costs. The 40% building coverage on a 642m² block reserves significant outdoor area for entertainment or landscaping, enhancing its appeal to families. This house is ideally suited for a professional household that values space, modern finishes, and low-maintenance living without the compromise of a renovation. The primary decision factor is the identified flood overlay, a tangible risk that necessitates specific insurance due diligence and may impact future financeability or resale liquidity. The listed price of $1.55 million sits above the central valuation estimate derived from comparable sales data, indicating a premium ask that requires justification against recent settled transactions. For a buyer, the opportunity lies in acquiring a turnkey property where the cost and risk of construction have been absorbed by the developer, provided the purchase price aligns with demonstrable market evidence. Our judgment is that this property should be pursued only at a value-adjusted entry point that materially discounts the flood risk and reflects its true market position, making it a hold for long-term capital growth rather than a short-term vehicle. Recent sales data provides critical context for valuation: – Vacant land sale (Oct 2022): $374,500 – Subsequent land sale (Mar 2024): $450,000 – Comparable property valuation range: $1.35m to $1.53m (central estimate: $1,437,000) The 20% increase in the land value over 16 months underscores strong underlying demand in the area, while the current listing price at the top of the comparable valuation range demands scrutiny. A buyer must leverage this data to negotiate, targeting a purchase within the established band to ensure equity from day one.