$775,000

This 1-bedroom apartment at 2502/393 Pitt Street, Sydney, priced at $775,000, appears to be positioned competitively within the Sydney CBD market, particularly for its size. Comparing it to similar 1-bedroom units in the provided comparables: 'Apartment 2' at $585,000 with an estimated rent of $620/wk and 'Apartment 6' at $840,000 with an estimated rent of $700/wk. Given the subject property's price point, it sits between these two. Its specific address on Pitt Street, likely indicating a central location, supports a higher rental expectation than the lower-priced comparable. Therefore, an estimated weekly rental income of $680 is a realistic projection, representing a balance between the lower and higher 1-bedroom rental comps, considering the property's price and potential condition. This estimate has a moderate to high confidence level due to the direct comparable data available. Based on this, the estimated gross annual rental yield is approximately 4.56% ($680 * 52 / $775,000 * 100), which is a respectable yield for a Sydney CBD apartment, aligning well with or slightly exceeding some comparable yields. The property shows good undervalued potential (score 70) as it is priced below the average for 1-bed units in the comparables, especially considering the higher-priced 1-bed unit at $840,000. The rental yield score is solid at 65, reflecting the strong demand for rentals in the CBD. Flip potential is also decent (score 70), as a well-located 1-bedroom apartment in Sydney CBD always has strong resale appeal, and minor cosmetic updates could enhance its value. Key investment strengths include its prime CBD location, strong rental demand, and a competitive asking price. A potential risk might be the lack of parking, which can deter some tenants, though less so for CBD apartments. The recommendation is to proceed with due diligence, focusing on the building's strata report and any potential for cosmetic upgrades to maximize rental income and future capital appreciation.