54 Flamingo Drive, Banksia Beach QLD 4507

4-bedroom home | tenanted at $720/week | 724m² in Banksia Beach | flood overlay present This property offers a rare combination of immediate rental income and long-term land value in a sought-after coastal pocket. The 724m² block with only 40% building coverage leaves meaningful scope for future reconfiguration or extension, while the existing dual-living layout and covered outdoor space already serve a family or tenant well. The tenancy through to March 2027 at $720/week provides a buyer with a fully underwritten holding period, making this particularly suited to an investor seeking a low-touch entry into a growth corridor near water-based amenity. The flood overlay is the principal risk, and it will constrain both finance options and future resale buyer pools. This cost must be factored into any offer below the asking range, as it limits capital growth relative to unencumbered sites. The lack of recent comparable sales in the immediate street weakens price certainty, but the active Banksia Beach market and the property’s tenanted status reduce vacancy risk. For a buyer prepared to hold through the current lease and monitor overlay outcomes, this is a set-and-forget hold with optionality to develop or sell into a stronger cycle.