35 Morrison Street, Cobar NSW 2835

Original 1960s three-bedder on 853sqm | fully fenced with shed and vehicle access | tenanted at $300pw | Cobar’s tight owner-occupier market limits supply. This property presents a rare entry point into a market where 90% of Morrison Street homes are owner-occupied, meaning rental stock is chronically tight and tenant demand is structural. The 853sqm lot with backyard vehicle access and a garden shed offers immediate utility for trades or families, while the existing tenancy at $300pw provides a yield buffer during any renovation period. It suits investors seeking a low-entry hold in a mining-services town, or owner-occupiers who value space over polish. The main risk is the original condition: the 1960s build will require capital for kitchen, bathroom, and likely electrical upgrades, and the 96sqm floorplan with one living area limits appeal for growing families. However, the low building coverage (11%) leaves substantial room for extension or a second dwelling, subject to council approval. Solar panels and split-system air con reduce holding costs now. Buyers should budget $40–60k for a sensible renovation, then hold for rental growth tied to Cobar’s resource sector employment.