71 Villiers Street, Grafton NSW 2460

1937 build | dual street frontage | central CBD position | run-down condition | large convertible rear bedroom This house presents a central, high-access entry point into Grafton’s town centre, a positioning rare at this price threshold. Its dual street frontage and substantial 735m² parcel offer immediate utility and future subdivision potential, subject to council zoning. The oversized rear bedroom converts readily to a living area, improving the functional layout for an owner-occupier seeking space or an investor targeting a multi-tenant rental. It serves a buyer with renovation capacity aiming for capital improvement in a tightly held locale. The primary cost is the property’s poor condition, demanding a significant renovation budget and immediate capital outlay beyond the purchase price. The discrepancy in recorded bedroom counts signals unreliable data, necessitating independent verification. Proceed only with a structured offer conditional on a building inspection, using the report to negotiate price. This is a value-add play; secure it below domain estimates, renovate for equity, then hold for medium-term growth. A Propcred report would pressure-test the valuation, detail locality risks like flood zoning, and clarify insurance feasibility for a timber-framed house in this condition.