23 Mckay Street, Waterford WA 6152
23 Mckay Street, Waterford WA 6152
2-bed duplex on 467m² | heritage overlay area | close to Curtin and river | first-home and investor appeal | compact layout on generous land
This is a genuinely useful configuration for the Waterford market. A two-bedroom duplex sitting on a 467m² block is uncommon in this suburb, where much of the newer stock trades smaller land for more internal space. The property offers a low-maintenance footprint with a private courtyard, which suits first-home buyers wanting a foothold in an established pocket, or investors chasing rental demand near Curtin University and Waterford Plaza. The heritage overlay adds character to the street but also signals that the area holds its value through scarcity rather than volume. It is best suited to buyers who prioritise location and land over internal size.
The value here may hinge on how the compact internal layout compares to newer units in the area. The 1970s duplex stock nearby suggests the build is older, so condition and presentation will carry significant weight. The heritage overlay might limit future redevelopment potential, which could cap upside for buyers hoping to renovate or extend. That said, the large land component for a duplex of this size may appeal to those who see long-term potential in the site itself. Buyers should weigh the trade-off between immediate livability and future flexibility when forming a view on price.
|| Comparable Sales: 17B McKay Street sold history limited, 17A McKay Street traded in 2021 | Property Price Band: $800K–$900K | Value Drivers: land size, heritage character, proximity to university and river
Detailed Independent Property Report prepared by PropCred Analyst team for 23 Mckay Street, Waterford WA 6152
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Waterford, a compact two-square-kilometre suburb bounded by Manning Road to the north and the Canning River to the south, retains a post-war and early-1990s housing stock. Its 2,278 residents are predominantly young high-income professionals aged 20-29, and population grew 8% from 2011 to 2016. That demographic drives demand for its premium houses, which have a $1,528,000 median price. Annual price signals are mixed: one measure shows -7.4% over the past year, while others show +7.3% and +7.31%. Market conditions are tight, with homes selling in a median 24-30 days, only two properties vacant in the last month, and weekly house rents at $880. Sales volume is thin at 29-34 per year, limiting liquidity. Future demand is supported by the tight vacancy and 8% population growth; high entry price and price volatility cap upside.
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PropCred Estimated Value
Comparable Sales: 17B McKay Street sold history limited, 17A McKay Street traded in 2021 | Property Price Band: $800K–$900K | Value Drivers: land size, heritage character, proximity to university and river
Bedrooms
2
Bathroom
1
Parking
1
Land
892m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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