27 Laura Street, Stepney SA 5069

Period frontage with modern rear extension | 82% site coverage on 290sqm | Heritage overlay with flood overlay | Auction market test on 16 May The property’s competitive edge lies in its preserved c.1890 facade combined with a substantial rear architectural extension that delivers a 238sqm floor plan on a compact 290sqm lot. This configuration is rare in Stepney and suits buyers who want character presentation without sacrificing modern living space. The high site coverage – 82% – means the land is effectively maximised, which reduces redevelopment optionality but strengthens the house’s immediate utility. The property best serves an owner-occupier seeking a turnkey family home in a tightly held street with strong owner-occupier demographics and proximity to Adelaide High School. The heritage overlay constrains future alterations and adds compliance cost, while the flood overlay may affect insurance premiums and financing appetite from some lenders. These risks are priced into the current estimate but will narrow the buyer pool at auction. The rental yield potential of $710 per week is modest relative to the value, making this a consumption-driven purchase rather than an investment play. Hold this property as a long-term home and treat the overlays as fixed conditions rather than negotiable liabilities.