843 Riverway Drive, Condon QLD 4815

843 Riverway Drive, Condon QLD 4815
3-bed house | 1 bath | 934m² block | detached in Condon | family-focused suburb The property is defined by its 934m² block, a rarity in modern suburban infill and a strong competitive advantage for those prioritising outdoor space. The detached house form, with three bedrooms and two car spaces, is well suited to families seeking a roomy yet manageable layout. Within Condon, this property is positioned as a conventional suburban house on a larger-than-usual lot, giving it a solid land-value component. It is best matched to owner-occupiers looking for a family-friendly base, or investors drawn to enduring demand for land-rich houses. The single bathroom may be seen as a limitation, yet an added-value opportunity is presented via a future ensuite. The 934m² block might support subdivision subject to planning controls, which could influence value. The upside may be tempered by flood or bushfire overlays. Redevelopment potential and bathroom upgrade costs should be weighed.
Detailed Independent Property Report prepared  by PropCred Analyst team for 843 Riverway Drive, Condon QLD 4815
Checks found:
Value Risk ! 1
Liquidity Risk 2
Planning Risk 2
Income Risk 2
Execution Risk ! 1
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Market Insight

Condon, a Townsville suburb, is a low-supply market with a mix of older and younger residents; 3–4 bedroom houses dominate sales. Annual house price growth has been exceptionally strong at 24.1–24.3%, lifting the median to $559,000–$575,000, while houses sell in 11–32 days. Demand is underpinned by local childcare, population growth of 1.99% since 2016, and rising incomes, though 45% of owners hold mortgages and a third of households rent, adding rate sensitivity. The 73–126 annual sales are robust for a suburb of 5,894 residents, but supply is thin: just 312 properties are for sale or rent combined, and the unit market is unproven with fewer than five sales. Future growth hinges on sustained owner-occupier demand, while affordability—ranging from $335,000 to $1.3 million—and limited rental data remain key constraints.
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PropCred Estimated Value

Comparable Sales: 8 Rivergum Court, Condon sold $760,000 | Property Price Band: $650k-$750k | Value Drivers: large 934m² block, single-bathroom layout, scope for extension

Bedrooms

3

Bathroom

1

Parking

2

Land

934m²

Research & Review Prepared by Brian Moon, Analyst · Reviewed by Matt Proctor, Principal Analyst
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