47 Fern Terrace Russell Island QLD 4184

Tenanted until 2026 | 193sqm floorplan on 615sqm | Bushfire overlay present | Walkable to ferry and school This property offers a rare combination of generous internal space and immediate rental income, with a tenant in place until mid-2026. The open-plan layout, master ensuite, and large deck give it a liveable, low-maintenance feel that suits an investor seeking a buy-and-hold position in a growth corridor. The median sale price for similar houses on the island sits at $488,000, and the current estimated range positions this as potentially below that benchmark, offering some margin for capital appreciation over the lease period. The buyer is effectively securing a future owner-occupier home or a reliable rental stream with no vacancy risk for over two years. The bushfire overlay introduces a due diligence cost and may affect insurance premiums, but no flood or heritage constraints apply. The past sale price of $157,000 suggests significant value uplift has already occurred, so future growth may moderate. The tenancy locks out personal use until 2026, making this unsuitable for an immediate occupier. However, the lease provides a known income of $525 per week, and the property’s walkable access to the ferry and school supports long-term demand. Hold for the lease term, then reassess as a primary residence or reposition for sale.