304/1 The Causeway, Kingston ACT 2604

| Vacant carport risk | 6.0 EER below newer blocks | Land tax burden for investors | Mid-estimate below $689k list gap | The property carries a measured risk of price correction given its $689k+ list price sits notably above automated mid-estimates of $690k and property-level estimates around $716k, suggesting a 4-8% premium the buyer must absorb without recent comparable sales confirming that level. The 6.0 energy rating, while functional, trails newer builds in the Kingston precinct, reducing long-term holding cost efficiency but the corner apartment’s dual-aspect layout and FTTP connection offer durable tenant appeal. Annual land tax of $61k if tenanted makes this a poor vehicle for pure yield investors; it works best as a long-term hold for an owner-occupier who values the Telopea Park School catchment and 85% owner-occupied building stability. The property is competitively rare for a 4th-floor corner with 85-87m² internal space in a stable building where 45% of residents are long-term-this signals low turnover risk and supportive community desirability. The double glazing and solar PV system reduce outgoings, and the study adds flexibility for remote work layouts that younger professional buyers or downsizers seek. This unit best serves a buyer who prioritizes school proximity and building quality over short-term capital gains, and can act on the current list-to-mid-estimate gap of roughly $27k as negotiation buffer. From the sales data: unit 401 sold at $820k in June 2024 with $755pw rent; unit 409 sold at $350k after a 2-year hold showing -25% growth. The 401 sale supports a high-end value case, but the 409 sale shows downside risk exists in this building-mid-range pricing around $700k is defensible for a modern corner unit. The next step is to verify carport dimensions and strata reports that may reveal sinking fund health, then test vendor urgency through the 3-day listing window.