5/29 First Street, Katherine NT 0850

Renovated 2-bed townhouse | 81m² lot | walk to Katherine centre | no strata overlays | strong rental demand This unit offers a rare combination of a fully renovated interior and a compact, low-maintenance footprint that appeals strongly to first-home buyers and investors seeking immediate rental income. The open-plan layout with split-system air conditioning and modern kitchen removes the need for any capital outlay, while the absence of bushfire, flood, or heritage overlays simplifies due diligence. Its position in a well-maintained complex within walking distance to Katherine’s town centre gives it a locational edge over comparable properties on larger but less central lots. The property is best suited to a buyer who values move-in condition and minimal holding costs over land size. The primary risk is the limited land area-81m² restricts future subdivision or significant extension, meaning capital growth will track the local apartment market rather than detached housing. The buyer should note the 363-day prior marketing period, which signals a price-sensitive buyer pool in Katherine. However, the rental estimate of $455 per week supports a gross yield above 8%, making this a cash-flow positive hold from day one. For an investor, the strategy is straightforward: secure at or near the $289,000 ask, lease immediately, and reassess equity in three years when the renovation premium has been absorbed into local comparables