QLD similar property - huge price difference?

I am new to the property buying process and looking north brisbane atm
Lots of open houses to try and gather some info from groundwork
One suburb in my radar (mcdowall) has 2 properties recently sold. I think similar qualities
Links below
I think the first property is quite high price but still reasonable. Second property similar size, funny layout, but over one million?
Always enjoy reading this forum and hoping some gurus can help me understand why the difference is so huge?
To me similar properties in same suburb. Good street appeal both. Similar size... am I missing something obvious? Even a 6 bedroom recently didn’t go one million.
Haven’t bought but wanting to learn more so when I see one I like (similar to these two. Land size can be a bit smaller) I know how to offer competitively. I would have offered 750 000- 800 000 for both properties but only new in game. Still shock I missed the second property by a long shot.

18 Devito Place, McDowall, Qld 4053 - Property Details

15 Evergreen Place, McDowall, Qld 4053 - Property Details



Many thanks!

 

Hi @Dawnie, welcome to PC.
I'd say the proximity to 'Old Northern Road' would be the biggest factor (18 DeVito). You'd be able to hear that road clear as day / all day. Plus there is heaps more house @ 15 Evergreen, and more modern to boot.

 

I see power line now.
It is one house away from northern road. Still a big factor? Technically I thought that would be considered one street away?
I don’t know if I see the one million value in second house I think. Okay quieter street no lines, close to school but 300 000 more is a lot more.
I think I need more time in this property ground work but also may mean mcdowall no longer achievable for me. Everton park good on paper but driving around not as nice feeling.

 

Second one is a nicer house with 3 car garage and extra room/study not to mention pool. Looks renovated though as tiles look pretty old fashioned, angular layout and pool is oddly shaped

Buyers probably fell in love with the place and overpaid slightly.

Way I calculate is based on fittings and internal floorspace. So first house maybe worth $1000/sqm and second maybe $1250sqm

So first house let's say 300sqm 300k
Second house 400sqm 500k

So 200k difference. Then factor in land maybe 500k-600k. Then discount 100k for bad location as these are probably owner occupier family homes.