5 Wallace Street, Bridgewater TAS 7030

Character | 1880 character house on large 991sqm lot | 3 bed 1 bath with workshop and pool | flood overlay present | long-term owner-occupied street The property’s competitive edge lies in its rare combination of a substantial 991sqm lot with a modest 108sqm footprint, offering significant potential for extension or redevelopment in a street where 100% of properties are owner-occupied and turnover is minimal. The 1880 build provides period character, while the workshop, shed, and detected swimming pool add utility that is uncommon for this price point. This house best suits a buyer seeking land banking with immediate livability, or a renovator wanting to add value through internal upgrades without needing to compete for a vacant block. The flood overlay is the primary risk, potentially increasing insurance costs and limiting some financing options, though the absence of bushfire or heritage constraints keeps approval pathways simpler. The lot size discrepancy between 991sqm and 1486sqm warrants verification before exchange, as does the pool’s condition. The rental yield at $525 per week is moderate for a 3-bedroom house, but the long-term resident profile and low street turnover suggest stable capital growth potential. Hold this property for land value appreciation and consider a future subdivision or extension to unlock its full return.