905/41 Crown Street, Wollongong NSW 2500

Flood overlay identified | 226m² land with one bedroom | study provides flexibility | sold increase from mid-2024 This property sits within a flood overlay, a risk mechanism that may increase insurance costs and limit some financing options, particularly for investors seeking higher loan-to-value ratios. The 226m² land component in a Wollongong CBD location offers development optionality rarely paired with a single bedroom, creating a holding position with future uplift potential. However, the premium over the June 2024 sale price implies limited immediate capital growth without rental revaluation. This unit should be held for medium-term land appreciation rather than flipped speculatively. This is a rare low-rise flat on a full-title lot, where the land value likely exceeds the improvement value. Wollongong Public School and Keira High School catchments add tenant demand depth. FTTP and 5G connectivity support professional occupants. The property serves best as a balanced first-home buy with growth runway or a buy-and-hold investor play banking on land-zoning outcomes. Comparable sales data shows similar one-bedroom flats on strata lots traded between $590,000 and $640,000 over the past six months, placing this listing at the upper end. This context reinforces that the premium sits in the land area, not the unit itself. Next step requires a full flood report and a rental appraisal to underwrite holding costs before proceeding.