Currently listed — $800,000 ▼ Reduced 3.6% · $30k · 6 days ago
1 bed · 1 bath · 1 car · ApartmentUnitFlat
Asking price cut 3.6% ($30k, from $830,000 to $800,000) 6 days ago. The vendor has already moved once: negotiate below the NEW asking, not at it.
The Property Brief — what the evidence shows. You draw the conclusion.
Confidence: Low — based on 65 comparable auction sales (14 of this exact configuration) · model runs ±11% for this configuration · confidence held at Low — under 20 same-configuration sales · the model's typical miss is ~11% against published results — every hit and miss
What we've tracked
- 21 May 2026 listed by the agency (portal date)
- 19 Aug 2026 asking $830k
- 20 Aug 2026 price cut $30k — to $800k
- 27 Aug 2026 on market 98 days — portal listing date
Comparable auction sales
| Address | Config | Sold | When |
|---|---|---|---|
| 1/25 Kelly St | 1 bd · 1 ba | $675k | May 2025 |
| 540/99 Jones St | 1 bd · 1 ba | $741k | Feb 2025 |
| 202/349-357 Bulwara Rd | 1 bd · 1 ba | $735k | Feb 2025 |
| B601/503 Wattle St | 1 bd · 1 ba | $760k | Feb 2025 |
Suburb risk flags
crime index: 100 — well above sydney average · 16 min walk to Central · light rail ~every 4 min at peak
Where every number comes from
- Fair value: AI PropertyEye price model 2026-08-11-v5 — trained on 146,492 published auction sales; configuration-level (suburb × type × beds), not an appraisal of this exact home
- Comps: published Domain auction results for Ultimo — suburb × configuration matches, not hyper-matched to this address
- Evidence trail: tracked by our radar from portal listings, web-archive checks and published auction results — each entry dated
- Risk flags: suburb-level overlays (BOCSAR crime, flood/bushfire intel, aircraft bands, GTFS transit) — NOT a per-parcel assessment
⏱ Days on market — this campaign
98 days since our daily sweep first saw this listing.
The portal's own campaign may have started slightly earlier than our first sighting. Longer campaigns tend to mean more negotiating room — the board's "Longest listed" sort exists for exactly that reason.
Local rents — postcode 2007 units, new tenancies
$750/week median new-tenancy unit rent in 2007 (2026Q2, 199 bonds lodged).
The rent is real (NSW Fair Trading bond lodgements, CC BY) but it pools every bedroom count in the postcode and this is a 1-bed — so we don't derive a yield % from it: a ratio of two different grains reads as precision it doesn't have. New-tenancy rents also run hotter than sitting rents. Not financial advice.
Growth trend — Ultimo units at auction
Too few same-bed sales for a measured growth rate yet. Recent quarterly sold medians (all unit sizes — thin samples move these):
2024Q3 $803k (5) · 2024Q4 $1078k (6) · 2025Q1 $750k (4) · 2025Q2 $955k (3)
Suburb-level, from published auction results. No single building has enough sales for a block-level series, so this is the honest grain; sales-mix shifts move raw medians, and the measured rate (when shown) controls for bed count.
Agencies' own published sales nearby — Ultimo, around 1 beds
| Address | Sold | Price | Beds | Agency |
|---|---|---|---|---|
| 108/330-370 Wattle Street | 26 Feb 2024 | $378,000 | — | Harris Partners |
| 502/287 Pyrmont Street | 6 Dec 2023 | $850,000 | 1 | Harris Partners |
| 16/330 Wattle Street | 7 June 2023 | $401,500 | — | Harris Partners |
| 91/330 Wattle Street | 2 June 2023 | $652,300 | — | Harris Partners |
Prices as published on the selling agency's own website (their sold pages) — includes private-treaty sales the auction results never see. Only sales the agency chose to publish a figure for appear here.
Similar properties — on the market now
The 6 listings above are on the market now: same unit category, within 1 bedroom of 1, asking within 20% of this one, in Ultimo or a suburb whose centre is within 3 km — ordered by how close the asking price is. That is the whole rule: a filter, not a recommendation, and nothing here judges which home is better.
Planning & zoning — MU1 Mixed Use
Shops/offices below, apartments above. Walkable and lively, but denser and busier.
Zone MU1 (Mixed Use) under the SYDNEY LEP, from the NSW ePlanning layers at this address's geocoded point — a guide, not a parcel-level legal check. Confirm the exact lot at the NSW Planning Portal.
Construction risk — what no listing tells you
Building Commission NSW / Strata Community Association 2023 Strata Defects Survey: 53% of newly registered strata buildings reported at least one serious defect in common property (39% in the 2021 survey). Defects are common, not exceptional — and new does not mean safe (Opal Tower was under a year old).
Get an independent structural and strata inspection before you commit — the defect base rate makes it the single highest-value dollar in the purchase.
We cannot see inside a building — no one can from public records. This section states base rates and observable adjacency only, and will never call a building safe.
What's changing in Ultimo — recent local signals
2025-12-15 — Education invest — 1 2-14 MOUNTAIN STREET ULTIMO 2007 ($13467k) (institutional-signals.json (PAN-598691, OnlineDA))
Dated public signals compiled for this suburb — openings, closures, site sales and institutional moves. Facts with sources, not forecasts.
School catchments
Ultimo PS (primary) · SSC Balmain (secondary)
7 primary schools within 2 km · ICSEA ~1102 — the socio-educational advantage of the school community (My School, national average ~1000): a demographic measure, never a results or quality score.
NSW DoE intake zones at this address's geocoded point — tighter than a suburb-level guess, but geocodes carry a few metres of error and boundaries change with reviews. Verify the exact address at School Finder. Intake zones cover government schools only.
Green space nearby
Protected public recreation land within 250 m
Land zoned RE1 under the local environmental plan — reserved for public recreation, which protects it from being built over. The zoning doesn't say what's on it or how usable it is, and this layer doesn't carry park names.
Straight-line distance, not walking distance. NSW ePlanning planning layers (Land Zoning), CC BY. Distances are ladder buckets measured at the address's geocoded point.
Want the numbers agents don't volunteer?
Check any Sydney suburb free — Market Mint market-conditions readout, live median, clearance trend and the price model — at aipropertyeye.com. No sign-up for the suburb check; the full board is 7 days free.
Data from published auction results (Domain) and live portal listings. Estimates are never valuations or financial advice. Own this home and want a result corrected? hello@aipropertyeye.com.