5/36-38 Stevenson Street Taree NSW 2430

| 2-bed villa | flood overlay | Taree mid-market | 85% owner-occupied street | strong rental demand | This property occupies a rare position in Taree’s unit market: a freestanding villa on a full strata lot, in a street dominated by owner-occupiers, with a proven rental yield above the local median. The flood overlay is the primary structural discount, and for a buyer who can hold through weather events, it creates an entry point below replacement cost. The built form—circa 2005, single-level, with courtyard and secure parking—suits owner-occupiers downsizing or first-home buyers seeking low-maintenance tenure, while the recent $401pw lease and estimated $415–$480pw range confirm institutional-grade rental demand. The FTTP connection adds a practical edge for remote workers, but the real advantage is configuration: a villa with no common walls, on a quiet street, within walking distance to two public schools. The flood overlay is not a minor overlay; it will constrain capital growth relative to dry-land stock and may limit lender appetite, particularly for investors requiring full-risk insurance. This cost is already priced into the $404k–$425k estimate, which sits 17–23% above the local median for two-bed units—a premium justified by the freestanding form and low-density street. The opportunity is to acquire a durable, tenantable structure in a tight sub-market (43 units sold this year) where supply of villas is constrained. Hold for rental cash flow, not short-term appreciation; refinance only after a dry-season valuation cycle.