504/5 Waterways Street, Wentworth Point NSW 2127

2 bed, 1 bath unit | 1.02ha land title | No overlays | Strong rental demand | High-turnover resident profile. This unit presents a distinct proposition through its classification on a substantial 1.02-hectare land parcel, a technicality that separates it from standard strata lots and may offer underlying land value resilience not typical for apartments. Its position within a building demonstrating strong rental yields and high tenant demand, coupled with the absence of bushfire or flood constraints, creates a low-hassle entry point for an investor seeking stable cash flow. The property is best suited for a yield-focused buyer who prioritizes a modern infrastructure base with FTTP NBN and 5G coverage over premium interior finishes or views, accepting the functional two-bedroom, one-bathroom configuration as a vehicle for reliable tenancy. The primary risk is the compressed capital growth trajectory evidenced by the comparable market data, where similar units show minimal appreciation, placing the onus on yield to deliver total return. The high resident turnover in the immediate building, with over a third of occupants staying less than three years, signals a transient population that can elevate management costs and vacancy risk, though it concurrently reflects a deep pool of rental demand. The commercial logic is to acquire at a material discount to the building’s two-bedroom, two-bathroom units, banking the established rental yield to offset holding costs while awaiting the longer-term land value play. Treat this as a long-term hold for income, not a short-term trading opportunity, as its value will be recaptured through sustained tenancy rather than speculative uplift. Recent comparable sales and listings on Waterways Street establish a clear value bracket: – 506/3 Waterways St (2/2/1) sold for $762,500. – 507/3 Waterways St (2/1/1) sold for $700,000 three years ago. – 606/7 Waterways St (2/1/1) is listed at $705,000. – 803/4 Waterways St (2/2/1) sold for $771,000. This data anchors the subject property’s $714,000 estimated value as competitively positioned, particularly against the $705,000 listing for an equivalent configuration, suggesting the price reflects a slight market discount for its single-bathroom layout.