5/74-78 Old Smithfield Rd, Freshwater
FORGET a hefty mortgage, one new homeowner now has their own piece of land in leafy Freshwater for less than $200,000.
The sale went through on October 31 but settled last week making it the best bargain buy in Cairns for the week to November 20, according the RP Data.
The downstairs living and dining area at 5/74-78 Old Smithfield Rd, Freshwater
After six weeks on the market, Professionals Cairns — Edge Hill agent Leveaux Gartner sold the two-bedroom townhouse at 74-78 Old Smithfield Rd for $172,000.
The price was almost $20,000 less than the previous owner bought it for in 2007.
The split-level home has a large open plan living and dining area downstairs with a kitchen and breakfast bar, plenty of storage space and an outdoor balcony and barbecue area.
Upstairs are the two large bedrooms, both with balconies.
The small complex of six units was built in 1989 and commands $250 per week rent.
The September Real Estate Institute of Queensland Market Monitor revealed that the Cairns house market had been a steady performer for the past year, with the median price increasing by 1.2 per cent from $405,000 in June 2017 to $410,000 in June this year.
The annual median sale price for Freshwater properties jumped 33 per cent over the last five years.