NSW Too cheap to be true?

Any ideas why this goes so cheap? I expect property of this size to be at least 1.5mil in Kellyville. The only downside I can think of is the bad feng shui of being near the roundabout.

https://www.realestate.com.au/sold/property-house-nsw-kellyville-135462838

 

This equally bad feng shui and of much smaller land size however went for 1.29mil

https://www.realestate.com.au/sold/property-house-nsw-kellyville-135477410

 

What makes you think that it should go 1.5 mil? Do you have any comparable sales?
In my opinion it sold for what it costs - not a quiеt location, 3 bed 1 bath, bathroom could be updated, etc...

 

Yeah 3 bed 1 bath is very small house. People looking in K'ville tend to want oversized McMansions. Perhaps the property is an outlier for the suburb.

 

The burns house is a little closer to the t-way and 4 bedroom (even if size of lot is much smaller), newer build. The older house is in a much older area of Kellyville. Last sold in 2014... could be anything really.. distressed sale.?!

 

Kellyville has 2 parts the older one and the newer one. The older part is close to the windsor and newer is closer to green road. The $1.5m prices you have seen are in the newer part. The older part has always been that much. Houses there are older styled/design though they have larger blocks.

You may think why don't people buy cheap houses and rebuild/renovate?

The demographic coming to Kellyville is looking for McMansion showcases which is not possible if other houses in your street are rundown. The big blocks are not fetching high dollars because the area is R2 zoned. You may want to buy and wait for a rezoning.