3/148 Mein Street, Scarborough QLD 4020
3/148 Mein Street, Scarborough QLD 4020
3-bed split-level apartment | Ripples precinct | coastal walkability | secure lift parking | strong rental demand
This property is positioned as a larger-format coastal apartment within a newer Mein Street precinct. The configuration is considered uncommon for the area, with split-level living, secure parking, and lift access being offered. Downsizers and families are best served by this low-maintenance proximity to the waterfront. The precinct’s modern finishes and sea breezes are emphasized for lifestyle appeal, and strong leasing demand for three-bedroom stock is noted. Owner-occupiers are well matched to this lock-and-leave coastal base.
Value may be influenced by the exact floor level and aspect, as natural light and outlook are affected by these. Body corporate fees and building management quality might be weighted heavily in ongoing costs, while two secure car spaces and a substantial internal area could be seen as premium features. Market timing and the condition of this unit relative to similar sales might also be considered.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/148 Mein Street, Scarborough QLD 4020
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
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Market Insight
Scarborough combines coastal amenity with a demographic anchor of 60-69 year-olds, while a 5.4% population increase and downsizer demand support both houses and units. House prices sit between $1.11 million and $1.2 million, with annual growth of 9.1-18%; units record $900,000-$985,000 medians and 13.2-33.3% growth. Sales velocity is solid: 157 houses and 100 units traded in the past year, and houses sell in 20-63 days depending on size. Gross yields are thin at 3.1-3.3% for houses and 3.7% for units, with median weekly rents of $650-$670 and $600-$620 respectively. High price points and modest yields make the market rate-sensitive, though the coastal lifestyle and steady turnover underpin near-term momentum.
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PropCred Estimated Value
Comparable Sales: 11/188 Mein Street sold for $870,000; 9/174 Mein Street sold for $995,000 | Property Price Band: $900,000-$1,000,000 | Value Drivers: floor level, aspect, condition, parking allocation
Bedrooms
3
Bathroom
2
Parking
1
Land
149m²
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