77C Gray Street, Plympton SA 5038

Modern 3/2/2 townhouse | Quiet street positioning | Recently built/renovated | Leased tenant in place This property presents a competitively configured, low-maintenance housing solution in a settled suburb. Its three-bedroom, two-bathroom format with dual parking is operationally efficient for a small family or professional couple, further strengthened by immediate rental income from the sitting tenant. The modern finishes and open-plan living cater directly to contemporary preferences, reducing immediate capital outlay. This townhouse serves best as a straightforward investment or a high-convenience entry point into the market, with its leased status offering immediate yield while limiting vacancy risk. The primary decision rests on accepting the constraints of a 156m² lot, which caps land value appreciation and outdoor utility, and the inherent strata complexities of a townhouse title. Due diligence must target the body corporate’s financial health and by-laws. The absence of recent, direct comparable sales for this specific configuration necessitates a conservative valuation approach. Proceed only if the acquisition price reflects a discount for lot size and managed title, otherwise hold as a medium-term income-generating property while leveraging broader suburb growth. * **77 Gray Street (Nearby):** 1 bathroom townhouse on 226m² lot. Last sold 9 years ago for $680,000. Current estimated value ~$1,151,000. * **Inference:** This highlights significant suburb-wide capital growth. However, the subject property’s smaller lot and different configuration suggest its value will be materially lower, though its superior bedroom/bathroom ratio may attract a different buyer segment.