65 Bluestone Parkway, Secret Harbour WA 6173

Bushfire overlay creates insurance friction | Tenanted until March 2027 limits immediate use | Golf course views sustain long-term value | Pool and workshop add functional depth but not premium resale. The bushfire prone overlay is a material risk that increases insurance premiums and may limit some lenders’ appetite, effectively costing buyers annual holding expense creep. The fixed lease until early 2027 restricts owner-occupier access, making this a passive income play rather than a personal residence opportunity. The pool and workshop are expensive to maintain and do not shift the valuation needle in this price bracket, though they are genuine lifestyle amenities for a buyer who values them. This property should be held as a rental with a view to occupier entry at lease end or kept as a holiday-style retreat given the golf course proximity. The double-storey layout with golf course frontage is rare in Secret Harbour’s 664-square-metre block segment, giving this house positional leverage over median-priced four-bedroom stock. The 7 x 5 metre powered shed offers bona fide utility for a buyer with trades or hobbies, and the separate sitting room from the master suite adds genuine upstairs living space uncommon at this price. This property best suits a cash-flow-oriented investor who can absorb the lease duration or a buyer wanting a longer-term hold with eventual occupancy on a premium lot. To validate the offer range, request formal comparable sales from the agent for properties with golf course frontage and similar sheds in the past 180 days. Two recent Secret Harbour transactions highlight the premium this property commands: a four-bedroom house on a 600-square-metre block without golf course view sold for $935,000 in January 2026, and a comparable double-storey with pool and same-floor area transacted at $1.15 million in November 2025. The listing price for this property therefore carries a $50,000 to $65,000 premium largely attributable to the golf course position and shed, which is defensible only if the lease income covers the carry cost until vacancy.