I previously saw a 4ha plot of land in Waterford QLD4133, with an asking price of around $700k. It also came with a 3-bedroom house, which was rented out at $550/PW.
It sounds like a good deal, but the name is correct. Waterford is a flood-prone area, with many areas in flood zones. So even if you buy, zoning and flooding will make it impossible to develop. I'd like to share some pictures with you so we can study them together.
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