36 Sulphur Road, Parmelia WA 6167
36 Sulphur Road, Parmelia WA 6167
Renovated 3×1 on 711m² | Parmelia’s strongest sub-$800k block | 85% owner-occupied street | 2023 buy under $360k.
This property offers a structural advantage rarely found in Parmelia’s current market: a full 711m² lot with only 96m² of building, giving a buyer 86% undeveloped land. For a family or investor, that means genuine subdivision potential or a future granny flat without demolishing the existing house. The 2023 purchase at $360k suggests the current owner has already absorbed the renovation cost, so the $799k ask is priced for the land and the refreshed interior, not speculation. With 85% owner-occupancy on Sulphur Road and 71% long-term residents, the street is stable and low-turnover, which protects resale value. The property suits a buyer who wants a move-in ready home today but intends to unlock land value within five years.
The main risk is that Parmelia’s median for 3-bedroom houses sits at $650k, meaning this property is priced 23% above the suburb average. That premium is only justified if the land can be subdivided—and subdivision requires council approval, survey costs, and separate utility connections. Without a development timeline, the buyer overpays for a standard 3×1 in a suburb where 85 similar homes sold this year. The opportunity is to buy now, hold for two to three years, then lodge a subdivision application once the area’s 20–39 age demographic drives more demand for smaller lots. Use the property as a solid rental at $585 per week to offset holding costs, then sell the subdivided rear lot separately.
Detailed Independent Property Report prepared by PropCred Analyst team for 36 Sulphur Road, Parmelia WA 6167
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
2
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Market Insight
Parmelia presents as an affordable entry point within its region, attracting a younger demographic of predominantly working households. Demand is driven by strong sales activity and rapid turnover, reflecting a competitive market for houses. Recent price growth has been robust, supported by solid rental increases. Future momentum hinges on sustained demand for its established housing stock, though the market’s narrow focus on houses and slower turnover compared to adjacent suburbs presents a key constraint on liquidity and breadth.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
711m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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