6 Hope Street, Penrith NSW 2750
6 Hope Street, Penrith NSW 2750
R4-zoned 638m² block | high side, falls to road | 3-bed house with 206m² footprint | 18m height limit signals redevelopment upside | $640/week rent estimate
This house is competitively positioned for buyers who value both immediate occupancy and future potential. The land size is the standout feature—638m² on a regular, high-side block in inner Penrith is uncommon, and the R4 zoning with an 18m height allowance elevates it well beyond typical detached housing stock. The 206m² building area offers generous family living with three bedrooms, two bathrooms, and a second shower in the laundry, while built-in robes and a 900mm range in the kitchen add practical comfort. Its proximity to the hospital, train station, university, and M4 makes it particularly suited to medical professionals, university staff, or investors seeking a dual-purpose holding—rent now, develop later.
The value picture may be shaped by how much weight a buyer places on redevelopment versus the existing house. The current structure appears functional but not exceptional, and the falling-to-road topography could add minor site costs for any future build. Rental income around $640/week suggests solid demand, but the implied yield is modest against the asking range, so the land’s development potential likely carries the premium. The R4 zoning, combined with no detected flood, bushfire, or heritage overlays, may reduce planning friction, though council approval for higher-density use remains uncertain. Buyers should weigh whether the house’s liveable condition justifies the price now, or whether they are paying for the site’s future.
|| Comparable Sales: 6/38 Hope Street sold Feb 2025 for $570k (2-bed unit, 84m²); 6 Hope Street prior sale at $1.225m | Property Price Band: $1.2M–$1.3M | Value Drivers: land size and R4 zoning, building area and layout, rental income potential
Detailed Independent Property Report prepared by PropCred Analyst team for 6 Hope Street, Penrith NSW 2750
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Penrith, a key Western Sydney residential and commercial hub draws families, first-home buyers, and investors. Families target houses at a $1.1M median, while first-home buyers and downsizers favour units near $590K, supported by a 41.4% strata share. House prices rose 13.9-15.6% annually to $1.075-1.1M; units grew 4.3-5.7% to $595-600K. Houses sell in 22 days indicating tight supply. Rents for houses reach $620 weekly, units $580, with unit yields up to 4.9%. Future infrastructure and connectivity investments underpin growth, while a 10-year CAGR of 2.2% suggests stable long-term appreciation.
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PropCred Estimated Value
Comparable Sales: 6/38 Hope Street sold Feb 2025 for $570k (2-bed unit, 84m²); 6 Hope Street prior sale at $1.225m | Property Price Band: $1.2M–$1.3M | Value Drivers: land size and R4 zoning, building area and layout, rental income potential
Bedrooms
3
Bathroom
2
Parking
1
Land
632m²
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