230 Greatorex Road, Ilparpa NT 0873

Rural acreage near town | 2.49ha block with range views | four-bedroom family house | strong rental yield potential | no overlays limiting use The property’s primary competitive strength is its scale-2.49 hectares within commuting distance of Alice Springs-combined with a functional four-bedroom house that avoids heritage or flood constraints. For a buyer seeking a lifestyle property with genuine income potential, the rental midpoint of $785 per week against a asking price near $1.15 million offers a gross yield above 3.5%, which is uncommon for acreage. The renovated bathrooms and slate flooring reduce immediate capital outlay, while the absence of bushfire or flood overlays lowers insurance and holding costs. It serves best a buyer who values space and views over a polished interior, or an investor targeting the tight rural rental market. The main risk is that the house itself is not a premium build-the galley kitchen and 1995 construction suggest future updating will be needed, and the asking price sits above the midpoint estimate of $1.088 million. That premium costs the buyer roughly $62,000 in immediate equity gap. The opportunity lies in the land: 2.49 hectares with no overlay restrictions allows for subdivision potential or additional structures, subject to council approval. NBN Sky Muster and 4G coverage are adequate but not a draw. Hold this property as a long-term land bank with rental offset, or occupy and improve the house to lift value toward the top of the estimate range.