3/39 First Street, Railway Estate QLD 4810
3/39 First Street, Railway Estate QLD 4810
3/39 First Street, Railway Estate is a 3-bedroom, 1-bathroom flat apartment on a 124m² strata lot with 1 car space, sold for $360,000 in April 2025. Quarterly strata levies are $1,058.
This unit is competitively strong for its privacy and central positioning within Railway Estate, a suburb that balances proximity to the city with a quieter residential feel. The three-bedroom configuration is relatively uncommon in the local unit market, giving it an edge for small families or investors targeting tenants who need extra space without a house price. The single car space adds practical value here, as comparable units without parking have sold for significantly less, confirming that parking is a meaningful differentiator in this pocket. The property suits first home buyers or investors seeking a solid rental yield, likely in the 4.5 to 5.5 percent range based on local benchmarks, and its well-maintained condition reduces immediate capital outlay.
The value of this property may be influenced by its strata levies, which at over one thousand dollars per quarter are not insignificant and could affect net returns for an investor or monthly costs for an owner-occupier. The 124m² strata lot limits land component, so capital growth may be more tied to the suburb’s overall demand than to the property itself. The building’s age, while not confirmed, might require attention to common area maintenance or future special levies, and the internal unit configuration means no private yard, which could narrow appeal for some buyers. These factors should be weighed when forming a view on price, but they do not diminish the property’s core strengths.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/39 First Street, Railway Estate QLD 4810
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Railway Estate is an inner-suburb positioned for strong capital appreciation, with demand driven by investors and buyers seeking value in a low-supply environment. Recent price trends show robust growth across both houses and units, supported by a fast-moving market where properties transact quickly. Future growth is underpinned by its established connectivity, though constrained supply relative to state averages presents a key risk for ongoing affordability and market balance.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
124m²
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