$4,000,000

This 2-bedroom, 2-bathroom apartment at Level 22/6 Watermans Quay, Sydney, is priced at $4,000,000. Compared to the provided data, this property sits at the higher end of the 2-bedroom apartment market in Sydney. For instance, comparable 2-bedroom, 2-bathroom apartments with parking include #2 ($1,880,000, est. rent $1350/wk), #8 ($2,285,000, est. rent $1450/wk), and #15 ($2,800,000, no rent data). The subject property's price is significantly higher, suggesting it may offer premium features, views, or a more desirable building/location within the Sydney CBD, which isn't fully detailed in the provided data. Given its high floor (Level 22) and prestigious address (Watermans Quay), a premium is expected. Based on the comparables, especially #8 which is a 2-bed, 2-bath, 1-car at $2,285,000 with an estimated rent of $1450/wk, and considering the subject property's significantly higher price point, a realistic rental estimate would be around $1650 per week. This estimate acknowledges the premium nature of the property while remaining cautious given the lack of specific internal details. This would result in an estimated gross annual rental yield of approximately 2.15% ($1650 * 52 / $4,000,000 * 100), which is relatively low for an investment property, even in a prime Sydney location where yields are typically compressed. The Undervalued Score is low (40) due to the high asking price relative to other 2-bed comparables, suggesting it's priced at or above market value unless it boasts exceptional features not listed. The Rental Yield Score is also low (35) due to the compressed yield. The Flip Potential Score is moderate (60); while high-end properties in Sydney can see capital growth, the high entry price leaves less room for significant renovation-driven profit unless the property is significantly dated internally, which is unlikely for a premium apartment. The overall score of 55 reflects a property that is likely a lifestyle purchase rather than a high-yield investment. The confidence level for the rental estimate is moderate, as specific details about the property's condition, views, and exact building amenities are unknown, which could influence the premium rental value. Recommendation: This property appears to be a blue-chip asset in a prime location, likely appealing to owner-occupiers or investors prioritising capital preservation and long-term growth over immediate rental yield. A thorough due diligence on the building's specific offerings, recent sales in the exact building, and current vacancy rates for high-end apartments in Barangaroo/Watermans Quay is crucial before proceeding.