68/11 Payne Street, Narooma NSW 2546
68/11 Payne Street, Narooma NSW 2546
Single-level villa | 3 bed, 2 bath, double garage | Parklands Estate, Narooma | Bushfire overlay applies | Suits downsizers and investors
This property holds a clear competitive edge in Narooma’s villa market: three bedrooms, two bathrooms, and double parking in a single-level layout is a configuration that appeals directly to downsizers, retirees, and lock-up-and-leave buyers who want coastal living without land upkeep. The estate itself is established, quiet, and well regarded, which supports steady resale interest and rental demand. The estimated rent of $575 per week reflects the practical appeal of the layout, and the north-facing orientation seen in comparable units in the same complex adds to its lifestyle value. For a buyer seeking a low-maintenance coastal base with strong rental potential, this unit sits comfortably in the higher end of the local villa segment.
The bushfire overlay is the most significant factor to weigh, as it may affect insurance premiums and any future development approval, though it does not appear to limit current residential use. The property’s age and interior condition are not confirmed, so the extent of updates—kitchen, flooring, or bathroom renovations—may materially influence its market position relative to similar units in the estate. Buyers should also consider that the individual land area is modest, which limits expansion potential but reinforces the low-maintenance appeal. The absence of flood or heritage overlays reduces some risk, and the school catchment adds practical value for families, though the primary demand here is lifestyle-driven rather than family-oriented.
|| Comparable Sales: 78/11 Payne Street sold around $675,000–$677,000; 18/11 Payne Street sold at $449,900 in 2021 | Property Price Band: $600,000–$700,000 | Value Drivers: interior condition, north aspect, double garage layout
Detailed Independent Property Report prepared by PropCred Analyst team for 68/11 Payne Street, Narooma NSW 2546
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
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Market Insight
Narooma’s market is anchored by retirees: 47% of the 2,754 residents are 60-plus, and outright ownership of detached houses dominates demand. House prices have firmed to a median near $840,000, with annual growth of 6.4% despite thin turnover of 37–38 sales. The unit market tells a different story: median unit price is $527,000, yet rents fell 5.7% and values slipped 4.2% over the year, reflecting softer investor interest. Gross house yields are a modest 3.46%, while units return 4.28%. With houses sitting 68–101 days on market, buyers are selective. Future upside rests on Princes Highway access and steady coastal lifestyle demand from older buyers. Key constraints are affordability pressures — house incomes sit 35.4% below regional NSW averages — and interest-rate sensitivity that could stall price growth if conditions tighten.
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PropCred Estimated Value
Comparable Sales: 78/11 Payne Street sold around $675,000–$677,000; 18/11 Payne Street sold at $449,900 in 2021 | Property Price Band: $600,000–$700,000 | Value Drivers: interior condition, north aspect, double garage layout
Bedrooms
3
Bathroom
2
Parking
2
Land
6.3 ha
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