38 Tarawa Street, Parrearra QLD 4575

5-bedroom, 654m² land, ducted air and pool | Kawana Waters College zone | high confidence $2.5M+ value | no overlay restrictions This property occupies a strong position within Parrearra’s premium family corridor. The 361m² building footprint on 654m² of flat, unrestricted land gives buyers rare flexibility—the house itself is large enough for multigenerational living, while the site allows future reconfiguration or extension without overlay constraints. The ducted air, in-ground pool, indoor spa, and rumpus room are not just amenities; they signal a property designed for year-round occupancy by a household that values both comfort and entertaining. The school catchment for Brightwater State School and Kawana Waters State College anchors demand among families, a demographic that typically holds long term. The high confidence valuation of $2.515M with a tight range suggests the market has already absorbed comparable sales, reducing the risk of overpaying relative to street-level data. The primary risk is the lack of recent sales history for this specific address, meaning the valuation relies on street trends rather than direct transaction evidence. Buyers should verify condition of the pool and spa systems, as these are high-maintenance items that can erode holding cost. The 55% site coverage leaves room for a granny flat or studio, which could lift rental yield above the estimated $1,440 per week—an opportunity worth modelling if income return is a secondary goal. Hold this property as a family home with long-term capital growth in mind, or develop the site incrementally to extract additional value without selling.