87 Drake Avenue, Flinders Park SA 5025

| Flood overlay detected | 35% site coverage | 5m roof height | Rental yield ~2.3% **Decision:** The flood overlay introduces an insurance premium and potential development constraint that must be costed before purchase. At 35% site coverage, the current building leaves 65% of the lot underutilized, offering a clear redevelopment opportunity-either by extending the existing house or subdividing. This property is best held for its land value rather than the existing dwelling. **Buying case:** An 840m² lot in the Charles Stull council area at $1,358,000 is competitively priced for this zone, where similar-sized sites rarely trade below $1,400,000. The combination of low building coverage, reliable NBN, and school catchment makes it suitable for a buyer seeking to renovate or rebuild for capital growth. For the cost-conscious investor, the $610 weekly rent barely covers holding costs, so the play is land appreciation. To validate this price, compare recent sales of comparable vacant sites in Flinders Park. If yours is below the median, proceed; if above, negotiate. Your next step is to request a pre-purchase flood risk report and a quote for insurance to quantify the overlay’s actual cost.