80 Gepp Parade, Derwent Park TAS 7009

1935 character cottage | 474m² flat block | flexible studio | near Derwent waterfront | no heritage or flood overlay This property offers an unusual combination for its price point: a pre-war house on a level 474m² lot with no bushfire, flood, or heritage constraints, plus a separate powered studio that functions as a home office or additional room. The open-plan kitchen and combined bathroom/laundry reflect a practical layout suited to first-home buyers or downsizers. Its position near Giblin’s Reserve and the Prince of Wales Bay boat ramp, with a 12-minute drive to Hobart CBD, places it within reach of both amenity and lifestyle. The FTTP connection and 5G coverage support remote work, though these are secondary to the studio’s flexibility and the land’s development potential. The primary risk is the 1935 build quality-imitation weatherboard and a 40% building coverage ratio suggest limited expansion without council approval, and the 111m² internal area is tight for families. The 2003 sale history means no recent price anchor, and the estimated value range of $520k–$700k introduces uncertainty for buyers needing finance. Rental yield of 4.3–4.74% is solid but not exceptional. The opportunity lies in using the studio to offset mortgage costs or as a rental supplement. Hold for capital growth tied to Glenorchy’s corridor, or occupy and add value through cosmetic upgrades rather than structural changes.