$700,000

This 1-bedroom, 2-bathroom apartment at 508/653 George Street, Sydney, priced at $700,000, appears to be positioned competitively within the Sydney CBD market. Compared to the provided comparable properties, particularly other 1-bedroom apartments, its price point is attractive. Comparable property #4, a 1-bed, 1-bath apartment, sold for $750,000 with an estimated rent of $650/week. Comparable property #10, another 1-bed, 1-bath, was listed at $850,000. Given our subject property has two bathrooms, which is a significant amenity for a 1-bedroom unit, it offers a distinct advantage over these comparables. Based on this, a realistic estimated weekly rental income is $680. This is slightly above comparable #4 due to the additional bathroom and the strong demand for well-located, functional apartments in Sydney CBD. My confidence in this rental estimate is moderate to high, given the direct comparable data and the property's unique feature of two bathrooms for a 1-bed unit, which can command a premium. At $680/week, the estimated gross annual rental yield would be approximately 5.06% ($680 * 52 / $700,000 * 100). This is a strong yield for the Sydney CBD market, often characterized by lower yields due to high property values, and is superior to the yields seen in the higher-priced comparables. Key investment strengths include its competitive price for a 1-bedroom, 2-bathroom unit in a prime CBD location, offering a high rental yield potential. The two bathrooms enhance its appeal to tenants, especially couples or those seeking extra convenience. The undervalued score is high due to its price relative to similar 1-bed units, especially considering the extra bathroom. The rental yield score is also strong for the Sydney market. Flip potential is moderate; while the price is good, the apartment type (1-bed CBD unit) might have limited scope for significant value-add renovations that dramatically increase sale price beyond market growth, unless it's in poor condition (which is not specified). Potential risks include the general volatility of the CBD apartment market and potential for high strata levies in such buildings, which could impact net yield (though not accounted for in gross yield). My recommendation is to investigate strata reports and building condition thoroughly. If these are favourable, this property presents a compelling investment opportunity due to its strong rental yield and competitive pricing for a 1-bedroom, 2-bathroom unit in a high-demand location.