904/2 Charles Street, Charlestown NSW 2290
904/2 Charles Street, Charlestown NSW 2290
Ocean view high-rise flat | 2-bed with dual parking | 80% owner-occupied building | 16-day market turnover | Charlestown Square proximity.
This property offers a rare configuration advantage in a high-rise setting: two bedrooms with two bathrooms and two parking spaces, which is uncommon in this building and supports both owner-occupier and investor demand. The 80% owner-occupier ratio signals a stable, well-maintained building, reducing the risk of rental churn and common area neglect. The panoramic ocean views and sun-drenched layout provide a lifestyle edge that appeals to downsizers or professionals seeking a low-maintenance coastal base, while the 16-day average days on market for Charlestown indicates strong buyer interest. For a buyer, this unit sits at a competitive price point near the building’s median, with recent comparable sales showing modest annual growth of 3–5%, making it a solid entry into a liquid market.
The key risk is the flat market trajectory: one comparable unit showed negative annual growth over two years, and the building’s 7 recent sales out of 70 properties suggest moderate liquidity. The buyer should note that the property is not currently listed, so acquisition timing depends on a motivated seller. The rental yield estimate of around 4.2% at midpoint price is acceptable but not exceptional, and the lack of flood or bushfire overlays is a positive for insurance costs. The opportunity lies in holding for medium-term capital growth driven by Charlestown’s infrastructure and Newcastle spillover demand, with the dual parking and modern interior supporting above-average rentability. Use this property as a core hold in a diversified portfolio or as a primary residence with strong resale potential.
Detailed Independent Property Report prepared by PropCred Analyst team for 904/2 Charles Street, Charlestown NSW 2290
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Charlestown is a well-established residential and commercial hub southwest of Newcastle, attracting a diverse buyer pool of families, first-home buyers, and investors. Demand is driven by its blend of housing options, community appeal, and strong rental growth. The market demonstrates robust capital appreciation, with houses selling relatively quickly, indicating solid conditions. Future growth is underpinned by its established infrastructure and sustained rental demand, though its maturity may temper the pace of gains compared to emerging suburbs.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
1102m²
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