3 Melaleuca Street, Munno Para West SA 5115

3 bed house | Munno Para West | tenant in place until Oct 2026 | Mark Oliphant College zone The property sits in a tight mid-$600k range that aligns with the local 3-bedroom median, which provides a defensible entry point. The existing tenancy at $565 per week until October 2026 offers immediate income certainty, making this particularly suited to an investor seeking a hands-on yield from day one. The 75% owner-occupier ratio on Melaleuca Street and the average tenure of nearly five years point to a stable street environment, which reinforces long-term holding appeal. For an owner-occupier, the lease timing is the primary constraint, but the layout, outdoor entertaining area, and school zoning offer genuine livability once vacant. The main risk is the limited upside if the tenant remains for the full lease term, as the buyer cannot access the property for personal use or renovation until late 2026. The 48% auction clearance rate locally suggests buyers are selective, so resale within that window may be softer. However, the 2009 build age and Torrens title provide structural clarity, and the street’s low turnover supports steady capital growth rather than volatility. The opportunity lies in acquiring a modern, low-maintenance house with an established tenant in a growth corridor, where the price guide is within market evidence and the rental return is above the suburb average.