945 Riverway Drive, Condon QLD 4815
945 Riverway Drive, Condon QLD 4815
Detached house on 809m² | 124m² floorplate | 3-bed, 1-bath family format | Low 15% site coverage | Condon residential corridor
This house competes on land rather than build. An 809m² block in a suburb of mixed 3–4 bedroom detached stock gives it a yard-focused edge, especially against newer estate homes with tighter footprints. The 124m² floorplan suits first-home buyers, small families, or investors wanting straightforward rental appeal—3 bedrooms, one bathroom, secure parking, air conditioning, and built-in robes cover the practical basics without excess. Its position on Riverway Drive places it within school catchments and a corridor where larger lots are common, so it reads as a solid, uncomplicated suburban holding rather than a character or premium product. The buyer it serves best wants land security and liveability at a value-oriented price point, not turnkey luxury.
Value may hinge on how the land-to-building ratio is perceived—at 15% coverage, there’s room for future extension or shedding, but the single bathroom and modest internal size could cap appeal for growing families who need more immediate space. The absence of confirmed renovation status or premium finishes means condition will likely drive buyer interest more than features. Rental demand for 3-bedroom houses in the area appears steady, with weekly rent signals around $500–$515, which supports investor calculations, though yield depends on purchase price and ongoing costs. Buyers should weigh the potential to add value via the land against the reality that the current house is functional, not upgraded.
|| Comparable Sales: 951 Riverway Drive sold at $586,000; 949 Riverway Drive transacted in Jan 2025 | Property Price Band: $500,000–$600,000 | Value Drivers: land size, single-bathroom layout, condition and renovation potential
Detailed Independent Property Report prepared by PropCred Analyst team for 945 Riverway Drive, Condon QLD 4815
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
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Market Insight
Condon, a Townsville suburb, is a low-supply market with a mix of older and younger residents; 3–4 bedroom houses dominate sales. Annual house price growth has been exceptionally strong at 24.1–24.3%, lifting the median to $559,000–$575,000, while houses sell in 11–32 days. Demand is underpinned by local childcare, population growth of 1.99% since 2016, and rising incomes, though 45% of owners hold mortgages and a third of households rent, adding rate sensitivity. The 73–126 annual sales are robust for a suburb of 5,894 residents, but supply is thin: just 312 properties are for sale or rent combined, and the unit market is unproven with fewer than five sales. Future growth hinges on sustained owner-occupier demand, while affordability—ranging from $335,000 to $1.3 million—and limited rental data remain key constraints.
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PropCred Estimated Value
Comparable Sales: 951 Riverway Drive sold at $586,000; 949 Riverway Drive transacted in Jan 2025 | Property Price Band: $500,000–$600,000 | Value Drivers: land size, single-bathroom layout, condition and renovation potential
Bedrooms
3
Bathroom
1
Parking
2
Land
809m²
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