29 Oleander Drive, Yungaburra QLD 4884

Uninterrupted Tinaroo Dam views | dual-level Hamptons-style home | 110 m² shed with conversion potential | proven Airbnb income stream This property presents a rare configuration in the Lakeside Estate: a dual-living capable floorplan on an elevated 1,250 m² lot with permanent water views that cannot be built out. The 110 m² masonry shed adds a commercial-grade workshop or future studio, which is uncommon at this price point. The house has operated as “The Hamptons Haven” with a track record of short-stay returns, meaning a buyer can step into an income-producing position immediately. It suits a family seeking multigenerational separation, a holiday-home investor wanting locked-in yield, or a buyer who values a home office with separate entry and lake-facing entertaining. The brick and block construction and established gardens with irrigation reduce ongoing maintenance surprises. The primary risk is the property’s reliance on short-stay income to justify its current estimated value, and the garage count is functionally one space despite marketing references to two. The upstairs veranda, while scenic, requires ongoing timber maintenance in a tropical climate. However, the shed’s conversion potential offers a path to increase habitable space without a DA for a new dwelling, adding long-term equity. A buyer should hold this as a dual-purpose holding: live in the main house while renting the shed as a studio or workshop, or continue the Airbnb operation with a review of seasonal occupancy data to confirm yield assumptions.