31 Hay Street, Mount Clarence WA 6330

1958 build | 756m² elevated lot | bushfire overlay | Albany school catchments | development potential noted. This property presents a rare, sizable parcel in an established Mount Clarence streetscape, offering a clear value mechanism through its subdividable or redevelopment potential on 756 square metres. Its position is competitively strong for an owner-occupier seeking to build a custom residence within the Albany Primary and High School catchments, or for an investor targeting land banking in a suburb with noted scarcity. The core dwelling itself is a secondary consideration, serving best as a holding position for future capital growth. Decision hinges on navigating conflicting listings—vacant land versus a house—and validating the bushfire overlay’s cost impact. The commercial logic is in the land; treat the existing structure as depreciating. Proceed only with a strategy to develop or hold long-term, as the estimated rental yield near 4.3% does not compensate for the asset’s transitional state. A Propcred report would pressure-test the real market valuation against true comparable sales, detail overlay compliance costs, and assess locality-specific insurance premiums to underwrite this opportunity.