407/10 Balfours Way Adelaide SA 5000

Modern 2-bed unit | Adelaide High School catchment | 2010 build, 4th floor | Single open car space This unit presents a competitively strong offering for an investor or owner-occupier seeking low-maintenance accommodation in the Adelaide City Council area. Its position within the Adelaide High School catchment is a definitive advantage, creating inherent demand from families. The 2010 construction suggests modern standards, while the single open car space and fourth-floor aspect offer practical city living. This property best serves a buyer prioritizing location and convenience over internal space or land content. The primary risk is the very limited land size of 12 square metres, which fundamentally constrains capital growth relative to properties with land component. The estimated rental range is wide, indicating potential income volatility. Proceed with an offer anchored to the lower quartile of recent comparable sales, targeting a yield above 4.5%. This unit is judged as a hold for reliable, though not exceptional, rental income. A Propcred report would validate its real market valuation against similar strata sales and clarify strata health, locality risks, and insurance exposures. Past sales show a purchase for $380,000 in 2011, following an initial sale of $464,900 in 2010. This history suggests the current estimated value must be scrutinized against recent comparable transactions to ensure it reflects genuine market movement rather than historical anomaly.