7 Phoenix Avenue, Bongaree QLD 4507

4 beds, 2 baths, 602sqm | side access for boat or caravan | three separate living areas | long-term tenant in place until Feb 2027 | no open homes scheduled The property’s competitive strength lies in its rare combination of a fully fenced 602sqm block with side access and three separate living zones, a configuration that suits both a family seeking space and an investor wanting a tenanted holding. The 37% building coverage and 7m roof height leave room for future value-add, while the quiet Bongaree street and walkable access to the Pumicestone Passage and schools anchor its demand profile. This house serves best a buyer who prioritises immediate rental income and long-term land utility over a turnkey premium finish. The flood overlay detected on title is the primary risk, potentially affecting insurance costs and resale liquidity, and should be verified with a full search. The existing lease at $510/week sits below the estimated market rate of $630–$695, meaning the buyer absorbs a below-market return until February 2027. Post-tenancy, the property can be repositioned for either owner-occupation or a rent reset to capture the location premium. Hold for the tenancy term, then reassess for capital uplift or conversion to a family home.