23 Lakeside Way, Andergrove QLD 4740

Flood overlay | Built 2023 | 10.5kW solar | No rear neighbours The flood overlay for 1% AEP introduces a risk that will narrow finance options and raise insurance premiums, costing a buyer conservatively $1,200 to $2,500 annually above standard cover. The house itself is competently built with builder’s warranty to 2029, and the solar installation offsets ongoing energy costs by roughly $1,500 to $2,000 per year, partially compensating for that insurance burden. For an owner-occupier prepared to manage the flood risk through due diligence on insurance and drainage, this property holds well; for an investor, the rental yield at 5% in Andergrove is competitive, but exit risk in a downturn is real. Judgment call: proceed only if you secure a favourable insurance quote pre-purchase. What makes this property competitive is its recency and specification—raked ceilings, plantation shutters, and a butler’s pantry are rarely found together in this price bracket in Mackay. The no rear neighbour position and 2.5m side access add genuine functional space for trades or a caravan. This house serves best a professional couple or young family wanting a low-maintenance, energy-efficient home in a school catchment, where the trade-off is accepting a known flood overlay in exchange for a higher specification than anything comparable nearby. The comparable sales data confirms the vendor’s pricing ambition is tight: the 2023 purchase of $635,000 and the 2025 sale at $770,000 bracket the current ask of offers over $769,000, leaving almost no negotiation buffer. Value inference: this property is priced at the top of its proven range, meaning any weakness in condition or finance approval leaves you exposed to overpaying by at least $10,000 to $15,000 relative to market evidence. Your next step is to submit a formal pre-approval to the agent while you arrange two insurance quotes on the 1% flood event—if both come back under $1,800 annually, you have clearance to negotiate; if they exceed that, walk.