Is the asking price plausible?
This is a comparison with the evidence we hold, not a valuation or a recommended offer.
Confidence: Low — based on 61 comparable auction sales (1 of this exact configuration) · model runs ±14% for this configuration · confidence held at Low — under 20 same-configuration sales · priced from this property's own records: block size, land value, previous sale · thin comparable support for this configuration — read the range as wider, not as a warning · the model's typical miss is ~10% against published results — every hit and miss
How this estimate was made
- Method: AI PropertyEye tree model · trained through 2026-09-03
- Inputs used for this home: priced from this property's own records: block size, land value, previous sale
- Comparable support: 61 sales in the wider suburb/type pool; 1 of this exact configuration
- When to be more cautious: This configuration has thin direct comparable support, so its range is deliberately wider.
Comparable auction sales
| Address | Config | Sold | When |
|---|---|---|---|
| 56 Mercury St | 6 bd · 3 ba | $2.2M | May 2025 |
Suburb risk flags
crime index: 34 — below sydney average · trains ~every 15 min at peak
Where every number comes from
- Fair value: AI PropertyEye tree model 2026-09-02-v7-price-model-v6-full-grid, trained through 2026-09-03 — trained on 169,356 published auction sales; priced per address where this home's own records reach the model (see "How this estimate was made"), otherwise at configuration level (suburb × type × beds), not an appraisal of this exact home
- Comps: published Domain auction results for Narwee — suburb × configuration matches, not hyper-matched to this address
- Risk flags: suburb-level overlays (BOCSAR crime, flood/bushfire intel, aircraft bands, GTFS transit) — NOT a per-parcel assessment
What to inspect before you offer
- Condition, aspect, renovation and the contract — these can materially change price, and the estimate cannot see them.
- Planning controls and heritage status — confirm the exact lot, not just the address-level guide, before relying on development potential.
These are due-diligence prompts, not a verdict on this property.
Rent evidence — asking vs transacted, Narwee · postcode 2209
$1200–$1600/wk is what 5-bed houses in 2209 actually transact for (middle half of 21 bonds lodged, last 12 mo · median $1300/wk — NSW Fair Trading, CC BY).
2019Q1 → 2026Q2: $600 → $850/wk · +5% over the last 12 months (latest four quarters averaged against the previous four) — quarterly new-tenancy medians for houses in 2209, 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.
Development potential — how Canterbury-Bankstown Council treats the work you might do
Refuses 11.6% of the development applications it decides · off-street parking 11.19% (determinations to Nov 2023).
The full outlook — every category with confidence ranges, which plan elements come unstuck, and the heritage effect by category — is under Explore the area.
Published auction results at this address
| Auction week | Result | Price | Agency |
|---|---|---|---|
| 2 May 2026 | Sold | $2,301,000 | — |
From Domain's published weekly auction results — individual outcomes as published; withheld prices stay withheld.
Sale history — the official settled-sale record at this address
| Exchanged | Price | Change since prior sale |
|---|---|---|
| 28 Apr 2026 | $2,301,000 | — |
Settled-sale records from the NSW Valuer General's Property Sales Information. Dates are contract (exchange) dates; sales appear only once lodged, so the most recent months are incomplete and revise upward — never read the latest month as final. Two entries on one date are usually a single transaction recorded across parts. © State of New South Wales (Valuation NSW).
Planning & zoning — R3 Medium Density Residential
Townhouses, villas and low-rise units permitted — expect gradual medium-density infill.
Registered lots in Narwee run 330–730 m² (middle 80% of 12 registered parcels). This one is 658 m² — inside that range.
Whether a block this size can be subdivided or redeveloped is a separate question: minimum lot size, setbacks and the council's DCP controls decide it, and this page doesn't check them. One point per registered parcel, so a tower's parent lot counts once — not once per unit. Confirm the parcel and its controls with the council before you inspect.
Zone R3 (Medium Density Residential) under the CANTERBURY-BANKSTOWN LEP, as recorded against this property in the NSW Valuer General's valuation record — a guide, not a parcel-level legal check. Confirm the exact lot at the NSW Planning Portal.
Development outlook — how often Canterbury-Bankstown Council has refused this kind of work
| If you wanted to… | Refused | vs NSW | Applications decided |
|---|---|---|---|
| Alterations & additions | 8.76% (6.52–11.67%) | 3.3× (NSW 2.63%) | 41 refused of 468 · 6 approved with conditions |
| Off-street parking | 11.19% (7.01–17.4%) | 4.3× (NSW 2.58%) | 16 refused of 143 · 3 approved with conditions |
| Pool, deck or fence | 9.42% (7.04–12.48%) | 5.4× (NSW 1.73%) | 42 refused of 446 · 4 approved with conditions |
| Granny flat | 10.76% (7.94–14.43%) | 2.4× (NSW 4.45%) | 38 refused of 353 · 13 approved with conditions |
| Knock down & rebuild | 9.86% (4.86–18.98%) | 0.9× (NSW 11.55%) | 7 refused of 71 · 2 approved with conditions |
Across all application types Canterbury-Bankstown Council refused 11.6% (10.37–12.95%) of the 2,380 development applications it decided.
Where these applications come unstuck
The refusal rate above says how strict the council is. This says which part of a plan is exposed — measured across all 192,284 NSW development applications, not just this council. Each is an association: plenty of applications carrying these elements are approved, and nothing here is a verdict on a proposal you haven't made yet.
- Alterations & additions — a new vehicle crossing cut into the front boundary (refused 7.27% vs 2.59% for this kind of work generally — 2.8×, on 220 applications); excavation or a new lower level (refused 6.71% vs 2.54% for this kind of work generally — 2.64×, on 611 applications)
- Off-street parking — a new vehicle crossing cut into the front boundary (refused 8.45% vs 2.42% for this kind of work generally — 3.49×, on 284 applications)
- Pool, deck or fence — excavation or a new lower level (refused 6.22% vs 1.61% for this kind of work generally — 3.88×, on 659 applications); full demolition and rebuild (refused 4.97% vs 1.6% for this kind of work generally — 3.12×, on 965 applications)
- Knock down & rebuild — excavation or a new lower level (refused 25.78% vs 9.36% for this kind of work generally — 2.75×, on 256 applications); full demolition and rebuild (refused 19.91% vs 10.46% for this kind of work generally — 1.9×, on 221 applications)
Determinations lodged on the NSW Planning Portal up to Nov 2023 — the published dataset stops there, so this is a record of how the council has behaved, not a forecast and not a statement about any particular application. Rates cover development applications only; modifications and reviews of an earlier decision are excluded. A rate is shown only where at least 30 applications were decided — below that the counts are given instead, because a percentage from a handful of decisions is not a fact about a council. "Approved with conditions" is a consent, not a refusal, and is never counted as one.
School catchments
Narwee PS (primary) · Kingsgrove HS (secondary)
7 primary schools within 2 km · ICSEA ~1005 — 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.
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.