404/42C Formosa Street · Drummoyne NSW 2047

Currently listed — $1,795,000

3 bed · 2 bath · 2 car · ApartmentUnitFlat

View the live listing →

⏱ Days on market — this campaign

135 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.

Rent evidence — asking vs transacted, Drummoyne · postcode 2047

$1000–$1325/wk is what 3-bed units in 2047 actually transact for (middle half of 18 bonds lodged, Q2 2026 · median $1175/wk — NSW Fair Trading, CC BY).

2019Q1 → 2026Q2: $600 → $868/wk · +7% over the last 12 months (latest four quarters averaged against the previous four) — quarterly new-tenancy medians for units in 2047, all bedroom counts pooled.

Asking rents are what agents hope for; bond figures are what tenants actually signed at (NSW Fair Trading bond lodgements, CC BY). No yield % is derived here: each rent above is a different grain from this home's price, and a ratio of two grains reads as precision it doesn't have. New-tenancy rents run hotter than sitting rents. Not financial advice.

Growth trend — Drummoyne units at auction

Measured like-for-like growth ≈ 4.5%/yr — 2-bed sold-price medians across 16 quarters (91 sales).

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 — Drummoyne, around 3 beds

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 3, asking within 20% of this one, in Drummoyne 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.

Heritage conservation area — Bourketown. The property sits in a heritage conservation area — the streetscape is protected, so visible/external changes are controlled. It's area-wide, not this building specifically; it tends to preserve character and value.

Height limit 15m (≈ 4 storeys) — the current legal ceiling for new building at this point under the LEP. Any proposal above it needs a variation or a rezoning — the kind of change the fast-track pipeline tracks.

Floor space ratio 2:1 — the maximum gross floor area you can build is 2:1 times the site area.

Registered lot 4/DP663431 — The registered plan lot at this address's geocoded point (NSW cadastre). On semis, duplexes and recent subdivisions the registered lot can be the parent parcel — the portal's advertised land size can differ legitimately.

Zone MU1 (Mixed Use) under the CANADA BAY LEP · heritage from the NSW Heritage Map layer, 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.

Development applications — at & near this address

Development application data © NSW Department of Planning and Environment, used under CC BY 4.0. Matched at this exact address or within ~150 m of its geocoded point — proximity evidence, not a parcel-level check. Lodged means proposed, not approved or built. Outcome comes from a separate NSW dataset that stops in Nov 2023: applications determined after that, or still undetermined, read “not on record” — which means we don't know, never that it was refused. “Status” is the council's own workflow state and “Determined” on its own does not say which way it went. Verify any application on 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 Drummoyne — recent local signals

2026-07-07 — Health invest — 19-23 LYONS ROAD DRUMMOYNE 2047 ($335k) (institutional-signals.json (PAN-653967, OnlineDA))

Dated public signals compiled for this suburb — openings, closures, site sales and institutional moves. Facts with sources, not forecasts.

School catchments

Drummoyne PS (primary) · SSC Balmain (secondary)

5 primary schools within 2 km · ICSEA ~1131 — 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.

Privately-zoned recreation land (RE2 — typically golf courses or club grounds) within 1000 m. Private land: green outlook, not public open space.

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.