56/3 Michie Court, Bayview NT 0820

56/3 Michie Court, Bayview NT 0820
3-2-2 apartment | mid-2000s build | bayview marina precinct | secure parking and pool | strong rental demand The property is positioned within Bayview’s marina apartment precinct, where a 3-bedroom, 2-bathroom, 2-car configuration is offered with secure parking, balcony access, and pool amenities. This format is well suited to small families, professional couples, and downsizers seeking a larger apartment near the Darwin CBD. The mid-2000s build is typical of the area, and features such as air conditioning, built-in robes, and stone benchtops are generally expected. Rental appeal is strengthened by proximity to waterfront walking paths and markets, making the unit attractive to owner-occupiers and investors alike. The leafy outlook and lift access add to its everyday convenience. Value may be influenced by the unit’s presentation and any recent upgrades, alongside its floor level and outlook. Body corporate fees might be a material factor, given the secure parking and pool facilities. Market conditions in this apartment segment may also be reflected in price variability, as some prior sales have shown weaker holding-period outcomes. The internal area and natural light will further shape buyer perception. >> Comparable Sales: 94/5 Michie Ct sold $350k; 85/5 Michie Ct sold $300k | Property Price Band: $300k–$400k | Value Drivers: condition, internal layout, outlook
Detailed Independent Property Report prepared  by PropCred Analyst team for 56/3 Michie Court, Bayview NT 0820
Checks found:
Value Risk ✕ 2
Liquidity Risk ✕ 2
Planning Risk ! 1
Income Risk ✓
Execution Risk ! 1
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Market Insight

Bayview offers a prestige marina lifestyle minutes from the CBD, with canal-front homes and quiet cul-de-sacs. Demand is led by professionals, managers, and couples with children; renters make up 47% of the area, indicating a high rental component. House prices span $720,000 to $838,000, though annual growth estimates range from -14.8% to +13.0%, reflecting market divergence. Units show firmer momentum, with growth of 10.1% to 16.8% and a median around $616,000 to $627,500. Houses sit on the market 49 to 72 days, and gross rental yields for houses range from 3.0% to 5.6%; units yield 6.7% to 6.9%. Weekly rents for houses are $800 to $835, and units $630 to $750. Sales volumes are thin, with only 12 to 21 house transactions annually. Future growth is tied to marina lifestyle and CBD proximity, though limited sales data and divergent price signals raise uncertainty.
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PropCred Estimated Value

Bedrooms

3

Bathroom

2

Parking

2

Land

3687m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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