Norman Gardens has long been one of Rockhampton's premier residential addresses. Consistently in demand, and consistently tight on supply. Unit 2/5 Teak Close puts you squarely in the middle of it, with a near-new 2024-built property that's already working hard for its owner. Currently tenanted at $600 per week on a fixed lease through to December 2026, this is the kind of asset that doesn't come along often: modern, low-maintenance, and income-producing from the moment settlement clears. Location does a lot of the heavy lifting here. Norman Gardens offers convenient access to CQUniversity Rockhampton, along with schools, shopping, parks, and everyday amenity; the kind of well-rounded suburban position that draws quality tenants and underpins long-term capital stability. Inside, the floorplan is smart and practical. Three well-proportioned bedrooms provide the liveability that tenants prioritise, with the main bedroom stepping it up with a walk-in robe and a private ensuite; a genuine point of difference that attracts and retains quality occupants. A second full bathroom services the remaining rooms comfortably, and the open-plan living and dining area flows naturally as the social heart of the home. Given Rockhampton's climate, air conditioning isn't a luxury, it's a baseline expectation. This property covers the two rooms that matter most: the main bedroom and the lounge. Tenants notice, and so do their lease renewal decisions. Combined with a 2024 build, you're looking at a property that requires virtually no immediate capital expenditure. No tired carpet to replace, no ageing appliances to upgrade, no maintenance backlog to inherit. Body corporate fees are deliberately low, keeping your holding costs lean and your net yield healthy. For investors who've been burned by complex strata with bloated levies and aged common property, this is a refreshing contrast; a tight, manageable scheme with a modern asset at its core. Whether you're an experienced portfolio builder looking to add a quality Central Queensland asset, or a first-time investor wanting a no-fuss entry into the market, Unit 2/5 Teak Close delivers the three fundamentals that matter: strong location, reliable income, and minimal ongoing commitment. The work has been done. You just need to buy it.
RealistIQ deal score
Neutral value signal
39
/100
Review the estimated value range, comparable sales, suburb trends, and market signals for 2/5 Teak Close, Norman Gardens before you inspect or make an offer.
Independent price check
Estimate vs market price guide
Market price guide is $37,000 below RealistIQ estimate
Use this as a second opinion and check the comparable sales below.
RealistIQ estimate range: $598,000 - $995,000Wider ranges mean more uncertainty.
RealistIQ estimate$796,000
Market price guide$759,000
$598,000$995,000
Before you inspect, check what similar properties actually sold for.
