3 Currajong Street, Evans Head NSW 2473

Renovation premium fading | bushfire overlay unmitigated | land size dispute masks density risk | rental return softening alongside coastal market correction The core risk here is paying for a renovation that has already peaked in value. The 2021 purchase price of $1.15 million is now only at the top end of estimates, meaning zero capital growth over five years, while carrying costs have climbed. The bushfire overlay is not priced into the estimate and will become a buyer liability if insurance premiums rise further or lenders tighten conditions on that postcode. This property functions best as a long-hold holiday let or dual-living owner-occupier arrangement, but as a pure capital growth play it is currently underwater relative to entry cost. What makes this competitive is the 200-square-metre internal area on a beachside block, with two modern living zones that few four-bedroom houses in the mid-range offer. For a family wanting separate children and adult spaces, or a buyer seeking a house that can generate two incomes via separate lettable levels, that layout is genuinely rare at this price point. The double-storey high ceilings and full renovation also reduce immediate deferred maintenance risk. This property suits a cash-flow-focused buyer, not a speculator. The absence of flood overlay is a positive for the region, but the bushfire note requires a face-to-face conversation with your insurer before exchange. If you want to proceed, that insurance quote and a title search to resolve the land size discrepancy should be your next two steps. Sales context: last sold March 2021 at $1.15M. Current estimate median $1.14M. No growth in five years. For a buyer, the value inference is that renovation premium has expired and you enter at the same capital basis as the previous owner, which favours negotiating below estimate.