NSW Schofields - seeking advice

What do you think of this property in terms on long-term growth (10 years from now):

21 Advance street, Schofields, NSW 2762

Currently on sale asking 850-890.

It is 6 minutes drive/14 minutes walk to Schofields station; 10 minutes drive to Rouse Hill Town Centre/new Rouse Hill station (and even less to the new Cudgegong station), 15 minutes to Marsden Park (IKEA etc); and I believe there is a proposed Stocklands mall close to Schofields station as well.

Given the size of the land, it may be possible to build 2/3 townhouses in the future when the market has picked up again....

And, what do you think is a reasonable price for this in today’s market? House No 3 in the street sold in June for 817K (similar house but no granny flat, and slightly less land).

The expected rent is - $460pw for main house, $250-300 for granny flat, as per what the agent tells me

Are there any red flags that I should be wary of? (Other than the current market condition and the expected price falls over the next year or so)

Thanks!

 

Is the area flood prone?

 

Hot damn, I grew up literally next door.19 Advance st, the house with the pool. My room looked into 'Di's' place (21Advance).
House needs some love,
I remember dad was trying to get a bunch of the neighbours to bundle into a development block. No luck, and just be wary - the entire other side of the road was rezoned and has/is being sold to build a massive apartment block (circa 300 or so units if I remember correctly). Parking will likely be an issue.
Side note - while area is apparently flood prone, i didn't experience one in the whole time I was there.

 

Is this an IP?

 

Yes, it’s an IP but I plan to use the granny flat for myself (for the next 8-10 years)...

Anybody with any thoughts on the “right price” for this property?

 

Wow 850k for that? I used to deliver pizza around this area back in early 2000s. It was a interesting area back then. It surely has come a long way since.

Some areas in Schofields are flood prone. Mostly the areas around eastern creek and the first/second ponds creeks. It actually flooded in Schofields few years back (from memory around 2013 or 2015). But since the new infrastructure upgrades around Marsden Park and Schofields, including new bridges, storm water drains and flood causeways there might be some improvement. They are yet to be tested by a freaky weather event.