5 Grachan Avenue, George Town TAS 7253

3-bedroom investment in growing George Town | tenanted from day one | 4.6% yield with upside | low-risk location with no overlays This property presents a straightforward buying case for investors seeking immediate cash flow in a proven growth corridor. The existing tenancy at $410-$420 per week eliminates vacancy risk at settlement, while the 26% suburb growth trajectory supports capital appreciation. The 675m² block with 15% building coverage offers future extension potential without overcapitalising, and the double garage with four parking spaces is a genuine differentiator in this price bracket. FTTP connectivity and reverse-cycle air conditioning add tenant appeal without being primary motivators. The main risk is the modest rental upside, with potential weekly income capped around $465 based on market data, meaning yield expansion depends entirely on capital growth rather than rent increases. The 1977 build requires due diligence on insulation and window quality, though the absence of bushfire, flood, or heritage overlays simplifies insurance and renovation approvals. This property suits a buy-and-hold investor targeting stable yield in a regional market with infrastructure momentum rather than a renovator or owner-occupier seeking premium finishes.