74 Wollybutt Road, Engadine NSW 2233

Two-story floorplan confusion | Pool built without permit | Tax depreciation lost on older build | Rental yield too low for Engadine’s buyer pool The house faces two practical risks that erode its market appeal and your negotiating position. A second, unofficial living area or half-storey was added without council records, which means any future renovation or insurance claim could trigger a costly compliance retrofit – expect $15,000–$30,000 in hidden rectification costs. The inground pool was installed without a Development Application or Occupation Certificate, so any lender or buyer’s solicitor will flag this during due diligence, potentially blocking finance or requiring a vendor warranty deed. These two items alone justify a 6–8 percent discount off the implied $1.7 million asking. Despite those risks, the property offers genuine strategic value: a single-level footprint on a flat 576m² lot in Engadine’s tight family corridor, where detached homes under $1.8 million trade within 18 days. House type is correct but the comparables are all single-storey, non-pool, unrenovated stock – your edge is that the vendor has already spent on the interior and pool, so you are buying a completed renovation at a discount to cost-to-build. The competitive advantage here is rarity of a move-in-ready four-bedroom with a pool within 900 metres of two high-priority public schools. Most buyers in this bracket overpay for perceived school catchment value without checking the property’s compliance history; your position is to use the pool permit gap and the dissonance between reported floor sizes (141m² vs 217m²) as a fact-based negotiating wedge. The property works best for a buyer willing to hold for five years, accept the pool as-is without warranty, and benefit from Engadine’s below-market rental yield (3.4 percent) that will improve as nearby Heathcote Road upgrades push families south. Your next step is a pre-purchase building inspection specifically targeting the pool structure and the second-storey addition, then instruct your solicitor to request a vendor disclosure on all unapproved works before auction day.