New to IP: Is there a catch with this investment

Hi,

I'm looking to invest in my first property (500K) and have been absorbing all the knowledge on this forum. You guys are great.
I have read a thread where a few people have suggested broadie. I saw this house: 8 Tempy Court Dallas Vic 3047 - House for Sale #128628570 - realestate.com.au

I was wondering why the price is this low compared to other houses I have been looking at around North and North East.

This house has a train station 17 minutes walking distance. It is near a mosque and I thought maybe the morning prayer call may be an issue.

 

This is not Broady. It's Dallas...
very different..

 

You are right it's not Broadie, but its not to far from Broadmeadows. How is it very different?

 

Have you checked the zoning? It may have a airport overlay on it. Also 500k isn’t cheap imo for Dallas

 

I just had a look it’s already been subdivided- were you aware of that?

 

No I wasn't aware. How did you find out it has been subdivided?

And sorry, I meant that my budget is 500K

 

If you look at the map in the listing and zoom in you'll notice the property is actually listed as 8A. Land size is only 312m² and the estimated sales range is between $370k and $395k.

Yep, it has definitely been subdivided already.

 

I looked on the planning website to see the zoning. Personally I’d keep looking I think you’ll find something that hasn’t been subdivided yet.” For your budget. Just be careful to check overlays