3/13 Dowling Place, Orelia WA 6167

Balcony noise | pool maintenance | bushfire overlay | rising rate risk | long lease lock The property carries two structural risks worth noting: the bushfire overlay may increase insurance costs by an estimated $600–$900 annually, and the in-ground pool adds ongoing maintenance of roughly $2,000–$3,000 per year with no offsetting value in this price bracket. The current lease at $485 per week until September 2026 provides guaranteed income but also locks you below market rent, potentially costing $55–$60 per week in lost upside for the first four months. For an investor seeking steady cash flow with patience for higher returns at lease expiry, this holds; for an owner-occupier, the lease delays access and the pool costs offset any lifestyle gain. What makes this unit competitively rare is the combination of a fixed long-term tenant and a purchase price well below the estimated value range of $526,000–$783,000, offering immediate equity paper gain despite the lease cap. The 75m² floorplan with balcony and entertainment area suits a single professional or couple, not a family, and the 67% residential mix in Orelia suggests stable demand. This property serves best as a buy-and-hold investment for an investor willing to wait out the lease and absorb pool costs in exchange for below-market entry, then refinance or sell upon vacancy. To move forward, request the strata by-laws on pool usage and confirm the bushfire overlay’s impact on your insurer’s premium before Saturday’s inspection. Recent comparable sales in the same complex show Unit 11 sold for $475,000 in February 2026 after being purchased for $335,000 in October 2024, a 42% gain in 16 months. Unit 14 depreciated from $180,000 a year ago. This property’s $479,000 ask sits near the high end of recent sales, suggesting limited short-term appreciation unless the lease cap lifts.