Real Estate

this adelaide home will cost you less than a cbd parking space

Written by The ReReport

23 Pix Rd, Davoren Park is Adelaide’s cheapest house on the current property market.

IT is set on spacious Torrens title allotment, is move-in ready and located within walking distance to schools, shops and public transport. But best of all, repayments on Adelaide’s cheapest house will cost you less than a CBD parking space.
Described as the deal of the century by selling agent Mike Lao of Edge Realty, the semi-detached home at 23 Pix Rd, Davoren Park is on the market with a price guide of $120,000 to $132,000.
That’s only $119 a week – or $17 a day – in mortgage repayments, based on a $24,000 deposit and subsequent $122,129 loan.

More impressively, it’s cheaper than a parking space in Adelaide CBD, which averages around $18 a day.


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23 Pix Rd, Davoren Park

“It’s amazing value for what it is,” Mr Lao said.
“It’s a Torrens title property on almost 500sqm, has three bedrooms and is within 30km of the CBD.
“It also has a big backyard and could be subdivided, subject to council consent. There’s a lot of potential here.”

23 Pix Rd, Davoren Park

Mr Lao said the property had been a successful rental in the past, and as such made an ideal investment or a “stepping-stone-start” for first home buyers.
Located in the Playford council region of South Australia, the suburb has an estimated population of 6494 – 41.75 of which occupy rental properties.

23 Pix Rd, Davoren Park

According to CoreLogic, the median sale price for houses is $190,000 – 4.1 per cent higher than a year ago.
The median rent, meanwhile, is $260 per week, with houses pulling a indicative gross rental yield of 7.1 per cent.

23 Pix Rd, Davoren Park

“This property could easily be rented for $230 to $250, a week. So it’s great home for positive gearing,” Mr Lao said.
“It’s definitely a property that would appeal to investors as Davoren Park has a high rental demand.”

*Calculations are based on a $130,000 sale.

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