4 Llenroc Street, Geilston Bay TAS 7015

Bushfire and flood overlay risk | dual-income structure pre-approved | 140m² on 958m² leaves development upside | rental yield data conflicting but current tenancy strong The property’s dual-income configuration is its primary commercial logic—two dwellings on one lot capturing $44,720 annually, with a 140m² footprint leaving 15% site coverage. The risk sits in the bushfire and flood overlays: these raise insurance costs and limit future subdivision potential without costly mitigation; a buyer should budget for a $2,000–$3,000 annual premium uplift. The 958m² lot at 26m elevation with no heritage overlay offers discreet development optionality (STCA), but the 2018 sale price and conflicting unit data suggest pricing may already reflect this potential rather than pure cash flow. The property is best held as a cash-flow stable investment with a longer-term build-out view rather than a quick flip. What is competitively rare here is the existing dual occupancy on a single title in a school zone like Lindisfarne North Primary—most comparable listings in Geilston Bay are single houses on smaller blocks. The 4-bedroom, 2-bathroom split between main and secondary unit means a buyer can live in one side while renting the other, or fully lease both for immediate returns. The FTTP NBN and 5G coverage support remote workers or tenants, but these are not the value-driver; the lot’s flat topography and 4m roof height signal reasonable construction access for future additions. This property best suits an investor or owner-occupier wanting income buffer in a stable suburb without the premium of waterfront. Comparable sales data is not available in the provided information, so no table is included; this analysis relies on the current tenancy and zoning indicators to infer that the dual-income structure commands a premium over single-dwelling comparables. The next step should be a flood risk report and insurance quote to quantify the overlay cost before considering an offer.