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16 Drake Street, Panania NSW 2213

Auction

Search Band Search Visibility Band

$1.4M - $1.54M Low Confidence Calculated based on limited search observations.

House 3 Beds 2 Baths 2 Cars 626 m²

Listed: yesterday

Overview

Located in a family-friendly area of Panania, this single-level house presents an exceptional opportunity for buyers interested in renovation, expansion, or complete redevelopment (subject to council approval). The property sits on an approximately 626 square meter block with a generous frontage of about 15.24 meters, providing substantial scope for value addition and customization.

The home comprises three bedrooms, complemented by two bathrooms, including a main bathroom equipped with both a separate shower and bath, catering well to family and guest needs. The living spaces include separate living and dining areas, offering versatile layouts for daily living and entertaining. The kitchen is practical and tidy, featuring ample storage and a breakfast bar that enhances casual dining experiences.

Outdoor living is a highlight with a rear yard that is child-friendly and flooded with natural light, alongside an outdoor patio area ideal for relaxation or social gatherings. Additional conveniences include a large laundry with storage and ducted air conditioning that ensures comfort throughout the seasons. The double lock-up garage at the rear, accessible via a driveway, along with additional driveway parking, addresses parking needs effectively.

Positioned within walking distance to local schools, parks, bus services, and close to Panania or Revesby train stations, the location supports convenient, community-oriented lifestyles. The property also presents rental potential, estimated between $700 to $750 per week in its current condition, with minor improvements potentially increasing rental returns to approximately $850 to $950 per week.

This residence is well-suited for families, investors seeking renovation and rental opportunities, or buyers with aspirations to create a custom dream home or explore dual occupancy options in a prime location.

Local Market Insights

In Panania, Quiet Listings observed 17 new houses entering the market over the last 30 days, up from 13 during the previous 30-day period, with an average advertised asking price of $1,576,471. The property type mix of listed properties is predominantly Houses at 68%, followed by duplexes (28%), and townhouses (4%). The most active agency for houses in the Panania area is currently PRD Nationwide, representing 24% of new listings, followed by First National with 24%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.