374 Richmond Road, Cannon Hill QLD 4170
374 Richmond Road, Cannon Hill QLD 4170
1950s freestanding house | 600sqm+ block | no flood or bushfire overlay | versatile renovator on quiet owner-occupied street | Cannon Hill primary catchment
The property’s primary buying case rests on its combination of a 600sqm+ block with no environmental overlays, a low 40% site coverage, and location on a street where 85% of properties are owner-occupied. This configuration is increasingly rare in Cannon Hill and gives a buyer positional advantage for either renovation or future redevelopment. The 237sqm building envelope and split-system air conditioning reduce immediate capital outlay, while the school catchment for Cannon Hill State School within 1km adds family buyer demand depth. The property best serves a buyer seeking a long-term hold with renovation upside in a stable, long-resident suburb.
The key risk is the property’s 1950s age, which may require structural or electrical upgrades that are not immediately visible. This cost must be factored into any offer, as the $1.7m estimated value already prices in some renovation potential. The 2014 sale at $481k shows strong capital growth, but the current market may be near a peak. The opportunity is to renovate selectively—focus on the kitchen and bathrooms—to lift rental yield toward the $1,060pw midpoint without overcapitalising. Hold for at least five years to capture further land value appreciation.
Detailed Independent Property Report prepared by PropCred Analyst team for 374 Richmond Road, Cannon Hill QLD 4170
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Cannon Hill offers a balanced market with divergent trends: house prices have softened (-2% to +10%), while units have surged over 13% annually. Demand is driven by its proximity to Brisbane CBD and strong rental appeal, particularly for units which offer higher yields (3.9%-5.03%). The market is active, with houses selling in 23-57 days. Future growth is underpinned by infrastructure improvements and revitalisation projects, though the house market’s recent volatility warrants attention.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
4
Land
600m²
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