292 Salvado Road Floreat WA 6014

3-bed duplex in Floreat | 438sqm near Shenton College | 1948 build with two living areas | estimated rental yield below suburb median This property offers a rare entry point into Floreat’s tightly held market, where the median house price exceeds $2.1 million. The 438sqm landholding, while modest, is positioned within the Shenton College intake zone and benefits from no overlay restrictions—an advantage for future renovation or extension. The duplex configuration with two living areas suits downsizers or small families seeking single-level living in a premium suburb. For a buyer, the key strength is location and scarcity: a sub-$1.8m price point in Floreat, with potential to lift rental income through modest upgrades, given current estimated rent of $930 per week sits below the suburb’s typical yield. The primary risk is the 1948 build, which may require significant capital for electrical, plumbing, or structural work—no building or pest reports are available to quantify this. The absence of recent sales data for this address limits comparability, and the estimated value range of $1.51m to $1.93m is wide, reflecting valuation uncertainty. A subdivided duplex setup on the street (292A) suggests possible strata complexities or shared infrastructure. The opportunity lies in holding for land-value growth in a suburb with 12.7% annual appreciation, or renovating to close the rent gap. Use this property as a long-term hold in a blue-chip school catchment, with renovation timed to market conditions.