401 Oxley Drive, Runaway Bay QLD 4216

Large block in established street | Flood overlay requires assessment | Recent high-end comparable sale nearby | Zoned residential with fibre and 5G This property presents a compelling proposition based on its substantial land holding, a rarity in this evolving corridor. The 1,025m² parcel significantly exceeds the lot size of recent sales on Oxley Drive, offering inherent scarcity value and future flexibility. The configuration of four bedrooms and four car spaces aligns with durable demand for family accommodation, further supported by proximity to well-regarded state and independent schools. This house best serves a buyer seeking a long-term hold, capitalising on land value, or a family prioritising space over immediate modern finishes, given its unchanged ownership since 1999. The primary decision factor is the flood overlay, which necessitates a detailed flood assessment and will directly impact insurance premiums and future development potential, imposing a tangible holding cost. The commercial logic lies in the significant price disparity with the superior, yet smaller, comparable at 486 Oxley Drive; this gap suggests a value opportunity if the flood risk is mitigated and the house is modernised. Proceed only with a conditional contract contingent on a satisfactory flood report, positioning this as a strategic land acquisition with a dated dwelling, not a turn-key home. Recent sales on Oxley Drive provide critical context: 486 Oxley Drive sold for $2,500,000 (670m², 4 bed, 3 bath) in June 2025, while 476 Oxley Drive achieved $1,850,000 (270m², 4 bed, 2 bath). The subject property’s value is anchored between these points; its far larger land area compared to 476 justifies a premium, yet its need for updates and flood profile places it well below the benchmark set by 486. This positions it as a value-play for a buyer who can manage the overlay’s implications.