Price Guide $1,300,000 - 1,400,000

This 2-bedroom, 2-bathroom, 1-parking apartment at 105C/276 Bulwara Road, Ultimo, is listed with a price guide of $1,300,000. Compared to the provided comparable sales, the market positioning appears to be at the higher end for a 2-bedroom unit in Ultimo. While there are 2-bed, 2-bath, 1-car units that sold for $1,150,000 and $1,600,000, the subject property's price guide of $1,300,000 sits above the lower comparable but below the higher one. The average price of comparable 2-bed, 2-bath, 1-car units is approximately $1,216,667 ($900k, $1.6M, $1.15M), suggesting the current asking price is slightly above this average, hence the moderate Undervalued Score. The median price of all comparables ($900,000) is skewed by several lower-priced 1-bedroom units or partial data. For a 2-bedroom apartment in Ultimo with parking, a realistic weekly rental income is estimated at $850. This is based on typical rental rates for modern 2-bedroom apartments in Ultimo, considering the property's features and the competitive rental market in inner-city Sydney. Comparable rental data for similar properties in Ultimo often ranges from $800 to $950 per week for well-maintained 2-bedroom units. This estimate has a moderate confidence level, as specific rental comparables were not provided, but it aligns with current market conditions for this property type and location. At a purchase price of $1,300,000, an estimated weekly rent of $850 would result in a gross annual rental yield of approximately 3.4%. This yield is respectable for a prime inner-city Sydney location, which typically prioritises capital growth over high yield. Key investment strengths include its desirable inner-city location, proximity to universities and the CBD, and the consistent demand for rental properties in Ultimo. The property type (apartment) generally offers lower maintenance compared to houses. Potential risks include the high entry price point and potential for interest rate fluctuations impacting borrowing capacity and serviceability. The Flip Potential Score is moderate; while Ultimo sees consistent demand, the current price point suggests limited immediate uplift without significant renovation, though the area's growth trends are positive. An actionable recommendation would be to negotiate the price closer to the $1,200,000 - $1,250,000 range to improve the undervaluation and yield metrics, and to conduct thorough due diligence on strata reports and building condition.