THE most cost-effective property in the marketplace in Cairns is near the town and begging for a knock down, rebuild with potential for a duplex improvement.
The 5 bed room property is on a 737sq m block at 15 Kingsford St, Mooroobool, and has a price ticket of $259,000.
By comparability, a 611sq m block at 9 Munro Terrace, Mooroobool, is in the marketplace for $220,000.
Land at The Enclave improvement at Jacamunda Circuit at close by Earlville is promoting for round $250,000 for a 686sq m block.
The home wants a critical makeover but it surely has 5 bedrooms, an workplace, two bogs and a giant undercover patio.
The property is fenced and there may be ample usable land on the entrance.
RE/MAX Cairns agent Natasha Whalley-Thompson stated there was potential for a twin occupancy on the positioning.
A knock down, rebuild may be less expensive than renovating, and might get a purchaser right into a desired location – the median value of a home at Mooroobool, with 97 bought over 12 months to November 2022, is $510,000 – a 12.8 per cent rise was recorded over three months.
The following most cost-effective home is a 3 bed room house at 17 Alabama St, White Rock, priced at $299,000
Then there’s a two bed room home at 10 Bell lane, Gordonvale, with a price ticket of $325,000.
Defying nationwide traits, the Cairns property market is rising with a 9.87 per cent median rise over 12 months to October 2022.