62 Panache Street, Molendinar QLD 4214

3-bedroom renovator | 608m² block | Ashmore State School catchment | solid brick with good bones The buying case here rests on the land-to-building ratio and the scarcity of a 608m² parcel in this price bracket within the Molendinar-Ashmore corridor. The 94m² brick house, while dated, sits on a flat block with no flood, bushfire, or heritage overlays, meaning the renovation cost is predictable and the holding period low-risk. This property serves best a buyer who can manage a cosmetic-to-moderate renovation and wants to unlock equity through floorplan reconfiguration or a rear extension; the 15% building coverage leaves meaningful room for expansion without a DA for a secondary dwelling. The reliable NBN and 5G coverage support remote work, and the school catchment adds resale depth for family buyers. The primary risk is the single bathroom, which will limit appeal to owner-occupiers and top-end tenants until upgraded. The 2002 purchase price suggests the vendor has low cost base, so negotiation room may exist despite the $1M ask. The rental estimate of $700–$775 per week provides a 3.6% gross yield at the mid-point, which is below market for a renovated house but acceptable for a land-heavy hold. Commercial logic points to a 12–18 month renovation, then either sell into the improved market or refinance and rent for cash flow. Hold for land value growth; renovate for immediate equity.