28 Rigg Street Woree QLD 4868

753m² block in Woree | 3-bed, 1-bath, 1-car | flood overlay present | last sold 43 years ago | strong rental demand at $630pw The buying case for this property rests on its land-to-improvement ratio and infill positioning. A 753m² lot in a tight market like Woree is increasingly rare, and the 22% site coverage leaves clear scope for extension or reconfiguration. The long ownership period suggests minimal deferred structural risk, and the rental estimate of $630 per week offers a gross yield near 5.5% at the current asking—well above Cairns averages. This property suits a buyer seeking land bank value with immediate rental income, or an owner-occupier wanting to add value through renovation or subdivision potential. The catchment for Woree State School and High School adds family appeal, and the NBN and 5G coverage support remote work. The primary risk is the flood overlay, which may affect insurance premiums and future resale liquidity—this must be quantified before commitment. The property has no bushfire or heritage constraints, and the 15m ground elevation provides some buffer. The lack of a recent sales history means price discovery is thin, but the $550k–$600k range from independent estimates aligns with the asking. The opportunity lies in holding for land appreciation in a constrained supply market, or in developing the rear of the lot if council permits. Hold for medium-term capital growth and rent cover; do not overpay for the flood risk.