638 Scenic Highway, Mulambin QLD 4703

Beachfront proximity | Two-level house with 7 beds | 647m² site near Yeppoon | Strong rental yield potential This property occupies a rare position directly across from Mulambin shoreline with views to Great Keppel Island, offering a configuration that serves both large family occupation and income generation. The two-level layout with separate downstairs multi-purpose room and workspace provides genuine flexibility for dual living or home business use. With 7 bedrooms and 3 bathrooms on a fully fenced 647m² lot with rear lane access and undercover parking for 4 vehicles, the house suits buyers seeking a substantial coastal residence or a high-yield rental investment in a suburb showing 30.4% growth. The absence of bushfire, flood, or heritage overlays removes common coastal property risks, while catchment for Taranganba State School and Yeppoon State High School adds family buyer appeal. The primary risk is the 100% site coverage and 7m ground elevation, which limits future expansion and may affect insurance terms despite no detected flood overlay. The 2023 sale at $650,000 and current estimated value between $1.06m and $1.2m represents significant price growth that may temper further capital gains in the short term. Rental income of $1,200 to $1,425 per week with a 4% suburb yield offers solid cash flow, though the separate unit at 3/638 Scenic Highway on the same lot creates potential for subdivision or dual-income strategy subject to council approval. Hold this property for its beachfront positioning and rental return, or explore lot reconfiguration to unlock additional value from the site.