80 Maluka Road, Katherine East NT 0850

Pool, tenancy until 2026 | ex-defence build, tight yield | school-adjacent positioning | 850sqm with low site coverage This property’s primary buying case rests on the combination of a long-term tenancy and a large, underutilized lot. At 28% site coverage on 850sqm, the house offers genuine scope for future subdivision or a secondary dwelling, a rarity in Katherine East’s current market. The renovated kitchen and bathroom reduce immediate capital outlay, and the in-ground pool adds lifestyle appeal for a tenant or future owner-occupier. The location across from St Joseph’s Catholic College gives it a distinct rental advantage, and the current lease at $550 per week until September 2026 provides immediate, predictable cash flow. This suits an investor seeking a stable hold with a medium-term value-add angle. The main risk is the property’s poor capital growth history on the street, with comparable sales showing negative annual returns over the last decade. The ex-defense construction and single-bathroom configuration may limit appeal to families, and the partly fenced yard reduces pet-tenant demand. However, the lot size and zoning are the real opportunity-buying at or near the $420,000 mark leaves room for a future subdivision application in 3-5 years, which could unlock significant equity. Hold for income, then develop when the market cycles.