60 Maluka Road, Katherine East NT 0850

3 bed, 1 bath, 1200m² block | renovated interior, 2 living areas | fully fenced, close to schools | tenanted at $420pw, stable demand The house offers a rare combination of a large, fully fenced 1200m² block with a recently renovated kitchen and bathroom, making it immediately livable with minimal capital outlay. The two living areas and rumpus room provide functional space for a family, while the existing tenancy at $420pw gives an income buffer from day one. This property is best suited to a buyer seeking a dual-purpose holding-immediate rental yield with medium-term subdivision or land-banking potential, given the lot size and absence of overlays. The primary risk is the suburb’s negative annual growth trend, with recent comparable sales showing slight value erosion. The tenant vacates in January 2026, so a buyer must factor in a re-leasing or owner-occupier transition cost. The opportunity lies in the block’s depth and zoning, which may support future subdivision or a granny flat. Hold this property for cash flow and wait for land value appreciation in a rising Katherine market.