38 Jacombe Street, Richmond TAS 7025

Large acreage near village | riverfront quiet road | 1953 house with workshop | flood overlay present This property’s acreage within walking distance of Richmond Village is a rare configuration, offering a lifestyle position that appeals to buyers seeking space and proximity to tourist amenities. The substantial land holding, significantly larger than typical suburban lots, provides both privacy and potential for various uses, best serving an owner-occupier seeking a rural-residential lifestyle or a business leveraging the tourist location. The high number of car spaces and workshop support this flexibility. The primary decision factor is the flood overlay, a tangible risk that necessitates specific insurance costs and limits certain development. The older, modestly sized house on a large block indicates the value is fundamentally in the land. For a buyer, the commercial logic is capitalising on the land’s scarcity and location. This property is a hold for lifestyle, with its value growth tied to land appreciation rather than the dwelling itself. Recent comparable sales provide context: – 34 Jacombe Street: Estimated value ~$722,000. This highlights the premium commanded by the subject property’s vastly larger land parcel. – This property last sold in 2017 for $435,000, demonstrating strong historical capital growth in the area. The sales data confirms this property is an outlier, valued for its acreage. The price premium over standard lots is justified by its rarity and positional advantages, though the flood risk moderates this premium.