24 Davis Court, Katherine East NT 0850

Large block in high position | 4 bed with 3 toilets | strong rental yield | above-average building size | NBN FTTP This property presents a competitively strong proposition due to its above-average land size and superior configuration within its immediate market. A 864m² block with only 20% building coverage provides significant yard space, a rarity compared to newer subdivisions, while the inclusion of three toilets and a 174m² floor plan elevates it above typical four-bedroom stock in Katherine. Its elevated position mitigates flood risk, a material consideration in this region, and the absence of planning overlays simplifies due diligence. This house best serves a buyer seeking a long-term rental investment or a family home, capitalizing on proximity to schools and a reliable rental estimate that signals sustained demand. The primary decision hinges on its price premium against recent comparable sales, which introduces a specific valuation risk. The asking price sits approximately 15-20% above recent sales for three-bedroom homes in the broader area, though its larger land and extra bathroom partially justify this gap. The commercial opportunity lies in securing a yield near 6.4% in a market with limited premium stock, locking in a property that is physically difficult to replicate at this price point. Proceed with an offer anchored to the estimated value, as the 18-day listing period provides negotiation leverage; this property warrants acquisition as a hold asset for either cash flow or capital growth tied to its land component. Recent comparable sales in Katherine provide essential context: 24 Callistemon Drive sold for $390,000 (3 bed, 1 bath), 15 Gregory Court for $420,000 (3 bed, 1 bath), and 78 Lockheed Road for $420,000 (3 bed, 2 bath). This establishes a clear benchmark where three-bedroom homes transact around $400,000-$420,000. Consequently, this property’s $539,000 ask is substantiated by its additional bedroom, third toilet, and significantly larger land parcel, but it must be weighed against the limited premium the local market has recently demonstrated for such upgrades.