Fire-damaged Elizabeth Downs home hits the market with shockingly cheap price guide – realestate.com.au

Jessica Brown

Updated 4 Oct 2023, 11:20am

First published 4 Oct 2023, 6:30am

News Corp Australia Network

7 Fortress St, Elizabeth Downs. Picture: realestate.com.au

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An Elizabeth Downs property has hit the market with a surprisingly cheap price guide.

But househunters desperately searching for a bargain buy be warned – there’s a catch.

The three-bedroom home at 7 Fortress St, which has hit the market with a $200,000 price guide ahead of auction later this month, has been severely damaged by fire.

7 Fortress St, Elizabeth Downs. Picture: realestate.com.au

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7 Fortress St, Elizabeth Downs. Picture: realestate.com.au

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While it appears perfectly untouched from the outside, much of the house’s interior has been blackened as a result of the fire.

Selling agent Ryan Graham, of LJ Hooker Property Specialists, said there had been good interest in the 605sq m property despite the damage.

“We’ve had quite a lot of inquiries since it’s gone online,” he said.

“Some are looking to subdivide, others are looking to get builders involved and see if it can be salvaged – that’s one of the biggest questions.

“From the photos it doesn’t look too bad bit it’s severely damaged in that front room.”

Mr Graham, who is selling the property with agency managing director Michael Fenn, said in his listing it offered a “rare and unique opportunity”.

7 Fortress St, Elizabeth Downs. Picture: realestate.com.au

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7 Fortress St, Elizabeth Downs. Picture: realestate.com.au

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“You can capitalise on this traditional-sized allotment to either build your family home or redevelop it, subject to council consent,” he said.

The property is close to local schools, shops, public transport, sporting clubs and major retailers at the Elizabeth City Centre.

It will be auctioned onsite at 10am on October 21.

Mr Graham said the price guide was based on its land value.

According to property records, the house last sold in August 2008 for $217,000 and has been listed for rent several times between September 2008 and August 2022.

Latest PropTrack data shows the median house price for Elizabeth Downs is $360,000 and it has climbed 23.7 per cent over the past year.

7 Fortress St, Elizabeth Downs. Picture: realestate.com.au

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