3 Downie Circle
New Norfolk, TAS 7140

Overview

3 Downie Circle, New Norfolk

Let's not overcomplicate this property. This is a three-bedroom home situated on a substantial 1,095 square meter block within a General Residential zoning area. This unique combination offers significant appeal to both investors and developers alike.

The property is currently leased, providing a steady cash flow, and is located in a quiet cul-de-sac, offering a peaceful living environment. The land itself presents multiple opportunities beyond just the existing house.

Purchasing this property means acquiring:

• 1,095 square meters of land
• General Residential zoning
• A proven rental income
• Potential for development subject to council approval (STCA)

The home features three bedrooms, all equipped with built-in wardrobes, a bathroom with separate bath and shower facilities, a functional kitchen and dining area, and a separate living room. Additional amenities include a covered entertaining area and a large rear deck approximately 12 meters in length, perfect for outdoor gatherings.

Parking is ample with a garage plus a carport, alongside additional shedding for storage or workshop needs. The yard is fully fenced, providing security and privacy. Built in 1977, the home is solid, practical, and livable, offering a comfortable lifestyle.

The standout feature is the block size, which is uncommon in this price range within a residential zone. There is potential for subdivision or the addition of a secondary dwelling, subject to council approval. This makes the property an excellent long-term hold and land banking opportunity.

Investors will appreciate the current lease generating $500 per week with reliable tenants in place. The New Norfolk area continues to see rising median house values and consistent rental demand, making this a sound investment.

Developers are encouraged to conduct due diligence, as the combination of land size and zoning presents a valuable opportunity to explore development options.

This purchase is driven by numbers and potential rather than emotion, offering a promising investment prospect in New Norfolk.

Features include reverse cycle air conditioning, balcony, deck, outdoor entertaining area, fully fenced yard, built-in robes, one toilet, and secure parking.

Disclaimer: The information provided is believed to be accurate but cannot be guaranteed. Interested parties should conduct their own enquiries to verify all details.

Location