70 Callistemon Drive, Katherine East NT 0850

3-bed brick house | 840m² block | large shed | tenanted at $450/week until Sept 2025 | renovated kitchen and bathroom The property’s primary strength is its dual-income potential: the existing tenancy at $450/week provides immediate cash flow while the large shed and 840m² lot offer future subdivision or granny-flat potential. The renovated kitchen and bathroom reduce initial capital outlay, and the solar system lowers ongoing costs-making this most suitable for an investor seeking a low-maintenance hold with upside from the land component. The main risk is the tenancy running to September 2025, locking the buyer out of owner-occupier upgrades or vacant possession sale until then. The 278m² building footprint on a flat 840m² block leaves room for a second dwelling, but council overlays and subdivision costs need verification before purchase. Buyers should treat this as a rental hold until late 2025, then reassess for development or resale.