46 Melba Street, Armstrong Beach QLD 4737

3 bed, 1 bath, 809m² block | Armstrong Beach, 1 day listed | Priced under estimated value | Quiet street, 80% owner-occupied This property presents a rare buying window in a tightly held street. The 809m² land component is the primary value driver, significantly larger than typical coastal blocks and offering future subdivision or dual-living potential. At 80% owner-occupied, Melba Street demonstrates stable demand and low turnover, reducing rental vacancy risk. The current floorplan is compact at 113m² but functional, and the single bathroom is the main limitation for families. The property suits a buyer seeking land banking near the coast, or an investor targeting the 20% rental pool in a suburb with limited stock. Pricing well below the estimated $750,000 value suggests the vendor is motivated, creating immediate equity for a cash buyer or someone with renovation capacity. The key risk is the dated condition,no recent sales data confirms what a renovated comparable achieves, and the single bathroom will narrow the buyer pool at resale. Renovation costs for a second bathroom and modernising the interior could run $60,000–$90,000, but would likely lift the property into the $700,000s. The school catchments are 8km away, which limits appeal for families with young children. However, the 40–59 age demographic dominating the suburb suggests a retiree or downsizer market that values space over proximity. Hold this property for land appreciation and consider a light renovation within 18 months to unlock equity for the next step.