23 Glengallan Place, Durack QLD 4077

High bushfire overlay | flood overlay active | lease locked below market | land area discrepancy | limited depreciation upside. The bushfire and flood overlays introduce insurability and exit risk, tightening the buyer pool and compressing long-term capital growth. The fixed lease at $650 per week until 2027 limits immediate rental upside, effectively costing the buyer roughly $10,000 in foregone income versus market rent over that period. This property suits a buyer seeking stable, hands-off holding with a moderate yield—not a short-term repositioning play. Its strength is a rare titled lot backing onto parkland in a tight pocket of Durack, with layout and recent kitchen updates that compete well against the older stock dominating this price tier. The school catchment and fully fenced block make it practical for a family investor or owner-occupier wanting deferred vacancy. The hard fact driving this case is the land breadth and reserve adjacency—buying land security beneath a reliable tenant. To validate value, a structured property inspection and review of the flood overlay impact on recent sales is the necessary next step.