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SA › Adelaide › Pirie St

U603, 235-237 Pirie St, Adelaide SA 5000

For saleApartment

$325,355

For sale

Asking

1

Bedrooms

1

Bathrooms

0

Car spaces

Districts ViewPrice evidencePlanningSite constraintsHistoryListing

Districts View

Given the $325,355 ask, is this worth your time?

Why this ask?

  • FactListed for sale, asking $325,355(Listing record · 21 Apr 2026)
  • CalculationAsk is 72% below the Adelaide median recorded sale ($1,150,000, n=17, last 12 months).(Districts calculation from recorded sales)
  • CalculationIf it leased at Adelaide's advertised median rent ($449/wk), implied gross yield would be 7.18% — this is not a rent for this listing.(Districts scenario calculation)

What could make it worth more?

No upside evidence detected in the data Districts holds for this lot.

What could make it worth less?

No detected risks — but see the checklist: absence of evidence is not an all-clear.

What should you verify next?

  1. 1Official planning layers are still retrieving for this parcel — check back before relying on zoning or overlay absence.
  2. 2No hazard layer has been retrieved — confirm flood, bushfire and heritage exposure from council mapping before an offer.

Each line above is labelled. A fact is quoted from the named source, with its date. A calculation is worked out by Districts from those facts — you can check the arithmetic. An interpretation is Districts' opinion of what the evidence means, not a fact, a valuation, or advice. Anything we haven't retrieved yet is marked as missing rather than treated as a pass.

Price evidence

The ask against the evidence

Asking

$325,355

Asking

No recorded sale for this property.

Adelaide at a glance

22,705

People

$1,150,000

Median sale

$449/wk

Median rent

2.03%

Suburb gross yield

Median sale from 17 recorded sales (last 12 months) — a Districts calculation.

See the full Adelaide report →

Vs Adelaide

-71.7%

Median sale

Suburb $1,150,000

+5.15 pp

Gross yield

Suburb 2.03%

Suburb median $1,150,000 from 17 recorded sales (last 12 months) — a Districts calculation, not a portal figure.

Total cost to purchase

Purchase Price
$325,355
Stamp Duty (South Australia)
$12,598
Transfer/Registration Fee
$3,293
Mortgage Registration (est., if financed)
$200
Legal & Conveyancing (est.)
$2,000
Building & Pest Inspection (est.)
$700
Rates & Water Adjustment at Settlement (est.)
$800
Total cash required
$344,946

$19,591 on top of the price (6.0% extra)

  • Stamp Duty (South Australia)
  • Transfer/Registration Fee
  • Mortgage Registration
  • Legal & Conveyancing
  • Building & Pest Inspection
  • Rates & Water Adjustment

Estimates only, at standard investor rates — no first-home or owner-occupier concessions applied. Not included: lenders mortgage insurance (usually applies when borrowing more than 80% of the price), loan application and settlement fees from your lender, the foreign-purchaser duty surcharge, and building insurance — in Queensland the property is at your risk from the first business day after signing, not from settlement. Verify with your conveyancer.

Stamp duty and transfer fees: South Australia schedules from 2026-07-01. Ongoing council rates and land tax are not included.

Rental yield

Pre-filled with Adelaide's advertised median rent — not a rent for this listing.

Net yield
5.68%
Annual cashflow (pre-tax)
$1,549
Interest cover (DSCR)
1.09
Annual rent
$23,348
Operating expenses
$4,880
Loan amount
$260,284
Annual interest
$16,918
Gross yield
7.18%

Gross yield is weekly rent × 52 ÷ price. Net yield subtracts operating expenses. Cashflow then subtracts interest-only interest on price × LVR. Tax, vacancies, and principal repayments are not included.

Open the full yield calculator →

Planning

Planning and development

Planning data is being calculated

Development activity

Data unavailable

Source

  • Provider: unavailable
  • Dataset: unavailable
  • Retrieved: not yet retrieved
  • Version: planning-v1

Planning facts are copied from official government GIS where available. Where an official property PDF exists (VicPlan, PlanBuild), Districts stores and serves that original document. Neither is a planning certificate, survey, or advice.

Site

Terrain

Terrain has not been calculated for this property yet.

Slope is calculated on a projected metric grid from a public DEM clip of the official parcel. This is not a survey, engineering, or insurance assessment.

Flood, bushfire and heritage

i

Flood

Not retrieved

Flood exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.

Bushfire

Not retrieved

Bushfire exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.

Heritage

Not retrieved

Heritage listing has not been retrieved from any source for this property yet. Unknown is not the same as clear.

Records

Property history

  1. Listed$325,355available21 Apr 2026

Events are recorded observations from public listings, kept with their source and date. Missing values are shown as unknown, never estimated.

Capital growth

SA

Why this lot, not just this suburb

Why could this property outperform?

Planning layers have not been retrieved for this property yet. A suburb median or growth rate is not a reason this particular lot would outperform. Funded catalyst catchments are not loaded. A TOD badge is not this product.

What could kill that thesis?

Confidence: low

Official flood overlay has not been retrieved (pending). Missing layer is unknown, not “no.” Nearby development applications are not loaded. This lot’s own applications are a separate question.

Rental

Income, competition, and yield

What will it realistically rent for?

Confidence: low

No advertised rent is recorded. Suburb median rent $449/week — not this address. An inferred likely-rent range is not shown until official bond series are loaded for this dwelling type and bedrooms. No recorded off-street parking — often a discount versus the suburb median for the same beds.

What competition will it face?

Current comparable rental listings within 400 m of this lot are not loaded. Nearby development applications are not loaded. This lot’s own applications are a separate question. Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded. Suburb vacancy or leased-tape days are not this property’s competition.

What does the yield actually look like?

Confidence: low

Gross yield if leased at the suburb aggregate is 7.2%. The yield that matters is the one on achieved rent, which has not been inferred for this address. Net yield (land tax, rates, insurance, vacancy) is not loaded. Net yield / holding costs are not estimated outside NSW without inventing land tax.

Verdict

What this means for this property

Districts view

Not enough official evidence yet to underwrite this as an investment.

Detail

The same ten questions apply to every property. Missing flood, nearby DAs, achieved rents, or lot geometry is unknown — not “no.”

Read more

Do not treat a suburb median, an advertised yield, or a listing score as the case for this lot.

The evidence loaded so far isn't enough on its own to change a buy, offer, or walk-away decision for this property.

Evidence

What is known for this property

Districts asks the same ten questions of every property. If one shows as unknown, that data isn't published for this state or hasn't been loaded yet — the question stays visible so you can see exactly what's missing.

1 of 10 questions answered so far

  • Development optionality of this lot

    Unknown

    Planning layers have not been retrieved for this property yet.

  • Nearby development pipeline

    Unknown

    Nearby development applications are not loaded. This lot’s own applications are a separate question.

  • Honest achievable rent

    Knownlow

    This is not “bond data says this address leases for $X.” The comparable figure is a suburb advertised/median rent, not this property. Official bond files (postcode or suburb × type × bedrooms) are not loaded yet.

  • Rental supply pressure

    Unknown

    Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded.

  • Why is this cheap?

    Unknown

    The constraint stack has not been retrieved for this lot, so Districts cannot explain a discount versus land size.

  • Lot-level flood

    Unknown

    Official flood overlay has not been retrieved (pending). Missing layer is unknown, not “no.”

  • Catalyst exposure

    Unknown

    Funded catalyst catchments are not loaded. A TOD badge is not this product.

  • This lot's DA history

    Unknown

    Development applications have not been queried for this parcel.

  • Statutory land value versus ask

    Unknown

    Statutory land value is not available as free bulk data in this jurisdiction. Do not fake it with a suburb median.

  • Net yield / holding costs

    Unknown

    Net yield / holding costs are not estimated outside NSW without inventing land tax.

Area

Adelaide in one glance

Adelaide at a glance

22,705

People

$1,150,000

Median sale

$449/wk

Median rent

2.03%

Suburb gross yield

Median sale from 17 recorded sales (last 12 months) — a Districts calculation.

See the full Adelaide report →

Keep researching

  • Why Adelaide? Read the area thesis →
  • What else is on the market in Adelaide →
  • Other records on Pirie St →

Listing material

Listed by Harcourts Adelaide City

Smart, Self-Contained City Living in Adelaide's East End

Currently tenanted at $435/week until August 2026

Positioned on level 6 within Adelaide's ever-popular East End, this well-designed one-bedroom apartment offers a highly efficient layout and strong investment appeal in a location known for consistent rental demand.

Thoughtfully configured to maximise space and functionality, the apartment features a defined bedroom complete with built-in robe and dedicated study desk - ideal for students and professionals alike. The adjoining private balcony provides a valuable outdoor extension, enhancing both natural light and everyday comfort.

Read the full description

The kitchen and meals area is neatly integrated yet distinct, creating a practical living zone, while the central bathroom with combined laundry ensures a fully self-contained and low-maintenance lifestyle.

What we love:

- Well-proportioned bedroom with built-in robe and study desk

- Private balcony offering natural light and outdoor space

- Functional kitchen and meals area with efficient layout

- Combined bathroom and laundry for added practicality

- Ducted reverse-cycle air conditioning

- Wired internet connection

- Secure building access with video intercom

Set in the vibrant East End, you're surrounded by Adelaide's most dynamic lifestyle offerings. From Rundle Mall and Rundle Street's renowned dining scene to nearby universities, public transport, and parklands, everything is within easy walking distance - driving ongoing demand from tenants and owner-occupiers alike.

With continued development and infrastructure investment within the precinct, this location remains one of the city's most tightly held and consistently performing pockets.

Combining a prime position, smart design, and secure tenancy, this is a compelling opportunity to secure a high-performing city asset.

Specifications:

Council / City of Adelaide

Built / 2010

Council Rates / $1,110.30 p.a. approx.

Strata Rates / $882 p.q. approx.

Water / $176.30 p.q. approx. (Supply + Sewer)

Strata Manager / Adelaide Strata & Community Management

*All information provided has been obtained from sources we believe to be accurate, however, we cannot guarantee the information is accurate and we accept no liability for any errors or omissions (including but not limited to a property's land size, floor plans and size, building age and condition). Interested parties should make their own inquiries and obtain their own legal advice.

Listing description written by William Fan, Harcourts Adelaide City — reproduced as published, not verified by Districts.

Property features

  • Toilets: 1

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Australian property research from recorded sales, listings, and official layers. Missing data is shown as unavailable, never filled in.

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Research purposes only. Not personal financial advice, a valuation, or a planning certificate. Always speak to a licensed financial adviser before you act.