9 Conridge Street, Forbes NSW 2871
9 Conridge Street, Forbes NSW 2871
3 bed 1 bath on 796m² | long-term tenant at $320/wk | gas heating and ducted evaporative cooling | fully fenced secure yard | no car parking advertised
A practical three-bedroom house is offered on a 796 square metre block with an existing long-term tenancy at $320 per week, by which immediate rental income is provided to an investor. The layout is straightforward: three well-proportioned bedrooms, a spacious living room, and an eat-in kitchen. Natural gas heating and ducted evaporative cooling are fitted, making the house comfortable across seasons, and the fully fenced rear yard is thought suitable for children or pets. In Forbes’s established residential market, this property is not a standout for finish or fashion; its strength lies in dependable, low-fuss rental housing. It is therefore best suited to an investor seeking steady yield rather than a buyer wanting a modernised home.
Value may be affected by the lack of car parking, which could be seen as narrowing appeal next to homes with parking. Updating may be required given the basic presentation, and that cost could be weighed. A long-term tenant is relied upon for steady income, although inspection freedom might be limited and vacant possession could be delayed. These factors could be balanced against consistent rental demand for practical housing.
Detailed Independent Property Report prepared by PropCred Analyst team for 9 Conridge Street, Forbes NSW 2871
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Forbes, in NSW’s Central West, is a predominantly house-based market with minimal unit stock, and demand is driven largely by owner-occupiers—67.3% of homes—along with professional households and childless couples. The median house price is $447,500, with annual growth of 2.29% and a five-year gain of 45.36%; 206 sales over the past year reflect steady turnover. Houses rent at $410 a week, producing a 5.8% gross yield, while units yield 4.07% with median weekly rent of $350. Vacancy is tight at 0.94%, though houses average 92 days on market, indicating balanced conditions. Future growth is supported by regional demand and historical upward price pressure, but the market is assessed as above its long-term trend, pointing to possible volatility.
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PropCred Estimated Value
Comparable Sales: 25 Conridge Street sold Dec 2019 for $85,000; 33 Conridge Street sold 2020 for $67,000 | Property Price Band: $300K-$400K | Value Drivers: land size, basic condition, layout
Bedrooms
3
Bathroom
1
Parking
1
Land
796m²
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