38-40 Pirie Street, Port Pirie South SA 5540
38-40 Pirie Street, Port Pirie South SA 5540
Large 1919 house | dual allotment potential | older stock with space | redevelopment opportunity | value-oriented buy
What is competitively strong about this property is its unusually large landholding, which is rare for a house of this age in Port Pirie South. The 1919-built structure provides solid older character, while the dual-allotment configuration offers flexibility for future subdivision or redevelopment. This property serves best a buyer who prioritises land size over modern finishes, such as an owner-occupier wanting generous space or an investor seeking long-term development upside. The four-bedroom layout is larger than typical older homes in the area, adding to its appeal for families or those needing room to grow. Its position in an established residential suburb with older housing stock reinforces the value of space and potential rather than turnkey convenience.
What may materially affect the value of this property is the condition of the 1919-built house, which might require significant updates or repairs that could reduce its immediate liveability. The single bathroom and limited parking may be a constraint for some buyers, potentially narrowing demand. The redevelopment potential, while a strength, could also introduce uncertainty around council approvals and zoning, which should be weighed carefully. The large land size might attract interest from developers, but the property’s older structure could limit financing options for some purchasers. Overall, the value is likely driven more by the land than the dwelling itself, so a buyer’s view on price should reflect the cost of bringing the house to a modern standard or the feasibility of future subdivision.
Detailed Independent Property Report prepared by PropCred Analyst team for 38-40 Pirie Street, Port Pirie South SA 5540
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Port Pirie South presents as a high-growth, family-oriented market with strong investor appeal. Demand is driven by buyers seeking affordable entry into the housing market, supported by robust capital growth and attractive rental yields. The market is characterised by rapid sales and limited stock, indicating significant buyer competition. Future momentum hinges on sustained demand for houses, though the imbalance between supply and demand presents a key constraint, with very limited activity in the unit sector.
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PropCred Estimated Value
Bedrooms
4
Bathroom
1
Parking
1
Land
1114m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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