For Sale: $1,200,000-$1,300,000

This 2-bedroom, 1-bathroom apartment at 3009/117 Bathurst Street, Sydney, is positioned within the competitive Sydney CBD market. The asking price range of $1,200,000 - $1,300,000 is directly comparable to other 2-bedroom units in the area. For instance, comparable property #6 is a 2-bed, 2-bath, 0-car apartment listed at $1,200,000, while comparable #3 is a 2-bed, 2-bath, 0-car at $1,550,000, and #7 is a 2-bed, 1-bath, 1-car at $1,380,000. The subject property's price point appears to be fair given its 1-bathroom configuration, which is a slight disadvantage compared to 2-bathroom competitors at similar price points. This suggests it's not significantly undervalued, but also not overpriced, earning an Undervalued Score of 65. The lack of parking is common for CBD apartments at this price point and doesn't severely impact its market position given the excellent public transport access.

Based on the comparable properties, particularly the general rental market for 2-bedroom apartments in Sydney CBD, an estimated weekly rental income of $950 is realistic. While only one comparable (#1) provided a rent estimate of $3000/wk for a 3-bed apartment, this is for a significantly higher-end property. For a 2-bedroom, 1-bathroom unit in a prime CBD location, $900-$1000/week is a strong estimate. Given the property's features and location, $950/week is a confident estimate. This would result in an estimated gross annual rental yield of approximately 4.05% (calculated using the lower end of the price guide, $1,200,000: $950 * 52 / $1,200,000 * 100). This yield is attractive for the Sydney CBD market, which typically sees lower yields due to high capital values, hence a Rental Yield Score of 70.

Key investment strengths include its prime CBD location, strong rental demand, and potential for capital growth in a blue-chip area. The property type (apartment) and age indicators (likely a modern building given the address) suggest limited scope for significant value-add through renovation, hence a moderate Flip Potential Score of 60. Potential risks include high strata fees common in CBD buildings, and the competitive nature of the apartment market. The recommendation is to consider this property for its strong rental income potential and long-term capital appreciation, rather than a short-term flip. Investors should factor in strata fees and property management costs when calculating net yield. The confidence level for the rental estimate is high due to consistent market data for similar properties in the area.