42/46 Playfield Street, Chermside QLD 4032

Overland flood risk | 151sqm in Chermside | rental yield ~4.6% | last bought 2020 for $352k This property carries specific flood risk from overland flow, which may increase insurance costs and limit resale appeal to cautious buyers. The 151sqm floorplan is generous for a two-bedroom unit, offering space rarely found in Chermside’s current stock, and the rental yield near 4.6% supports cashflow if held. Given the median unit price of $730k in the suburb and 15-day average on market, this property suits a buyer seeking long-term hold or tenant demand rather than short-term flip. The key competitive edge is size: at 151sqm, this unit rivals a small townhouse in living area, with a study and pool access that appeal to professionals or downsizers. Its location near Wavell Heights State School and five-minute drive to Chermside’s retail core strengthens tenant demand. This property best serves a buyer prioritising space and rental income over flood-free peace of mind, but the risk must be factored into offer strategy and insurance due diligence. Given the flood overlay and current market conditions, arrange a building inspection focused on drainage and waterproofing, then cross-check insurance quotes before proceeding to negotiate with confidence on the basis of actual condition.