6 Harrowby Street, Corinda QLD 4075

flash flood overlay | 7.1% estimated growth vs suburb median | underutilised block | renovation needed. This property carries a specific risk in its overland flow flood overlay which, while not a dealbreaker, can narrow lending appetite and increase insurance costs by an estimated $600–$900 annually. More importantly, the 1002m² double block at 26% site coverage is commercially underbuilt. At $1.7m the buyer is paying primarily for land position within Sherwood and Corinda school catchment, not for the dwelling itself. The correct hold here is as a land bank with immediate rental cover at approximately $1,085 weekly yield – or a renovation play targeting the $2.75m+ comps nearby, which would require roughly $400k in capital works to achieve. The double block rarity is your strongest negotiating card. In the 4075 postcode only 11% of listings exceed 900m², and this one sits elevated at 22m with 10ft ceilings and VJ walls – period details that reward thoughtful updating. The property suits a buyer who can hold three to five years and either renovate or develop the rear lot; it is poorly suited to someone seeking a move-in ready home without further spend. The pool and solar panels add genuine utility but do not shift the core logic. The 1988 structure is sound but dated, and the 8-day private treaty sale in January reflects a market that recognised the land value promptly. Your next step is a geotechnical check on the flood overlay and a builder’s cost plan for bringing the floor plan into line with current $2m+ expectations in this pocket.