5/4 Booth Street, Queanbeyan East NSW 2620

| Townhouse on 1011sqm | 2-bed floorplan | Low-risk zone | Auction 28 May | This property offers an unusual configuration: a 120sqm two-storey townhouse on a 1011sqm lot. The land-to-building ratio is the primary buying case here, as it implies future subdivision or dual-occupancy potential under the residential zoning, with no bushfire, flood, or heritage constraints. The $508,000 estimated value and $525 weekly rental income produce a gross yield near 5.4%, which is competitive for the Queanbeyan East market. The property best suits a buyer seeking land banking with immediate rental cover, or an investor targeting the 20-39 age demographic that dominates the area. FTTP and 5G connectivity add modest appeal for remote workers. The key risk is the 2008 last sale price, which may indicate limited capital growth over 18 years. Council rates at $4,117 per annum and strata fees of $914 per quarter compress net yield to approximately 4.2% before vacancy and maintenance. The 1011sqm lot is the opportunity: a buyer should assess subdivision feasibility with the council as a medium-term value unlock. Hold for rental income while pursuing a development application, or sell the land component separately.