23 Rhodes Parade, Windermere Park NSW 2264
23 Rhodes Parade, Windermere Park NSW 2264
4-bedroom family house | 751m² flat land | 19% building coverage | Lake Macquarie council area
This property offers a rare combination of generous land area and modest building footprint, giving a buyer significant future flexibility. The 19% building coverage on a 751m² site means substantial room for extension, a granny flat, or landscaping without compromising outdoor space. Positioned within a stable owner-occupied street with 65% owner-occupancy, the house suits families seeking Bonnells Bay Public School catchment and proximity to Lake Macquarie amenities. The ducted cooling and deck add immediate liveability, while the rental yield of 4.08% provides a credible fallback if plans change.
The primary risk is the property’s new-to-market status, which may attract competition and push price toward the upper valuation range. No flood or bushfire overlays reduce insurance costs, but the 9m ground elevation and 7m roof height limit any future second-storey addition without council variance. Fibre to the Node connectivity is adequate but not a premium feature. For a buyer, the commercial logic lies in acquiring the land at a fair price and holding for capital growth, with the option to renovate or subdivide later. Use this property as a long-term family home or a low-maintenance rental with expansion optionality.
Detailed Independent Property Report prepared by PropCred Analyst team for 23 Rhodes Parade, Windermere Park NSW 2264
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
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Market Insight
Windermere Park presents as a tightly held, family-oriented market with a remarkably low vacancy rate and rapid turnover, where homes sell in a matter of weeks. Demand is driven by young families and trades professionals, drawn by the area’s family-friendly profile and affordable entry point relative to the broader region. Prices have shown steady, moderate capital growth, though the market displays an unusual pricing dynamic: three-bedroom homes command a premium over larger properties, indicating a specific buyer preference for this configuration. The limited sales volume and lack of unit supply underscore a constrained market with few alternatives, which supports price stability but also introduces a risk of illiquidity. Future growth will depend on the area maintaining its appeal to this core demographic, as any shift in buyer sentiment could quickly reset pricing expectations given the thin sales base.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
751m²
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