88 Kiap Road, South Yunderup WA 6208

Flood overlay detected | Floor area inconsistent records | R15 zoning limits redevelopment | Short-term rental history may affect finance. The flood overlay is a material risk that may increase insurance costs and restrict future renovation approvals, particularly for a 1985 build on a 643m² lot with R15 zoning—this limits subdivision and intensification potential without costly rezoning. The reported floor area discrepancy (260m² versus 181m²) signals due diligence is required on structural measurements, which directly impacts valuation and borrowing capacity. The property’s functional layout with games room and alfresco area supports dual-use as a permanent family home or high-yield holiday rental, but the short-term rental history could complicate lender calculations. Your holding strategy should prioritise owner-occupation or verified long-term tenancy to mitigate financing friction and insurance volatility. The canal frontage with direct water access is a structural rarity in this corridor, and the outdoor living infrastructure—spa, sauna, Tiki bar—positions it as a lifestyle outlier against comparable waterfront stock. The property suits a buyer seeking immediate utility over capital growth: a professional couple or family valuing recreational space over land banking. To proceed, secure a flood risk assessment from a licensed hydrologist and a building surveyor’s measurement confirmation to align the negotiation with the $1.18m estimated range—this anchors your offer against the market’s own internal valuation data.