Welcome to this exceptional dual key property offering a blend of modern convenience and lucrative investment potential. Positioned in the rapidly appreciating suburb of Raceview, 37 Pendragon Street presents a fantastic opportunity for investors seeking strong rental returns with long-term growth prospects.
Raceview has experienced a remarkable 24% increase in median property value over the last 12 months, making it an attractive location for savvy investors looking to capitalise on continued demand. This steady growth reflects the suburb’s increasing popularity due to its proximity to Ipswich CBD, major infrastructure, schools, and shopping centres.
The first unit offers a spacious and functional layout designed for comfortable family living. Featuring 3 bedrooms, 2 bathrooms including a master with ensuite, an open plan kitchen and living area with split system air conditioning, and a secure single car garage, this unit is well suited to long-term tenants. The living area flows directly to an outdoor patio area with no rear neighbours, creating a private space for relaxation and entertaining. The master bedroom includes split system air conditioning, ceiling fan, built-in wardrobe and ensuite, while the second bedroom also includes a ceiling fan and built-in wardrobe. The main bathroom features a separate bath and shower, and the third bedroom is positioned upstairs complete with ceiling fan and built-in wardrobe. The garage conveniently provides internal access through the laundry to the side yard.
The second unit provides a practical and low-maintenance living option ideal for couples or small families. The home features 2 bedrooms, 1 bathroom, open plan living with split system air conditioning, and a single car garage. The living area opens to a covered outdoor patio and private backyard, creating an inviting indoor-outdoor flow. Upstairs you will find one bedroom with built-in wardrobe and ceiling fan, while the master bedroom includes a built-in wardrobe, split system air conditioning, and convenient Jack-and-Jill access to the bathroom.
With a combined rental income of $930 per week, this property offers a solid return on investment. Furthermore, a rental appraisal indicates the potential for increased income, with unit 1 estimated at $530-$550 per week and unit 2 at $470-$490 per week, yielding a potential total income of $1,000-$1,040 per week.
Conveniently located within a short drive to Ipswich CBD, local schools, shopping centres, parks, and public transport, the property provides tenants with easy access to essential amenities while maintaining a quiet suburban lifestyle.
For the Investors:
Unit 1
Configuration: 3/2/1
Rent: $480pw
Last Rent Increase: 26/08/2025
End of Lease: 26/08/2026
Unit 2
Configuration: 2/1/1
Rent: $450pw
Last Rent Increase: 27/01/2026
End of Lease: 01/02/2027
Total
Combined Rent: $930pw
No Body Corporate Fees
Don’t miss out on securing this versatile and income-generating asset in one of Ipswich’s most sought after suburbs, offering immediate returns and strong future capital growth potential.