7 Castaway Court, Banksia Beach QLD 4507

flood overlay risk | 3 living areas rare at this price | canal frontage over 20m | 90% owner-occupied street The flood overlay is a material risk here; it raises insurance costs by roughly 30 to 40 percent annually and may limit resale liquidity if buyers become more risk-averse. However the 1000 square metre lot with 20-plus metres of canal frontage is an opportunity most comparable properties lack; boats up to 12 metres can be moored directly. The property should be held as a long-term owner-occupied home rather than a short-term investment because the flood marker will compress capital gains in a downturn. What sets this house apart is its rare combination of three distinct living areas plus a study on a deep canal block, all within a street where 90 percent of neighbours own their home. This layout suits a family needing separate zones for children, guests and work, while the northern orientation of the alfresco area captures passive solar gain. The property serves best a buyer who values space and water access over absolute price certainty. Among nearby sales, comparable canal-front homes with similar frontage have transacted between 1.6 and 1.7 million, positioning this property within the lower quartile of that range despite offering more living area. This suggests the flood overlay is already priced in, making the current ask defensible if you are comfortable with the insurance cost. Get a specialist flood report before exchanging to quantify the annual premium and any council retrofit requirements.