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23 5 GREENLANDS DRIVE VARSITY LAKES QLD 4227

TOWNHOUSE FOR SALE

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Estimated Valuation

23 5 GREENLANDS DRIVE VARSITY LAKES QLD 4227 Property Photo
Bedrooms

3

Bathrooms

1

Car Space

3

Land Size

387 m²

Year Built

1992

Property Type

TownHouse

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Added 9 hours ago
Listing Price

Price withheld

Listed By
Gold Coast Property Sales & Rentals - Gold Coast
This corner-position townhouse offers a rare combination of space, privacy, and significant parking solutions with its new double carport and existing garage. Ideal for families or investors, the home is situated in a vibrant complex featuring a pool and tennis court, all backed by recent updates like solar panels and new flooring.

Description

Situated at the end of a quiet cul-de-sac in the highly sought-after complex of Currawong Heights, this 3-bedroom townhouse occupies a prime corner position on the high side of the estate. The property is set within a master-planned community built in 1992, offering a blend of established character and recent functional upgrades. The exterior features a brick and rendered facade with a reddish-brown tiled roof, which has been recently recapped. A standout feature is the brand-new double carport providing ample secure undercover parking and storage, complementing the existing automatic single garage with internal access.

Inside, the home presents a practical layout with timber-look flooring in the downstairs living areas and carpeted bedrooms. The residence has received several key improvements to enhance livability, including new LED downlights, new ceiling fans throughout, and an EcoClean treatment for the upstairs air conditioning. The kitchen features white cabinetry and includes a dishwasher, while a separate internal laundry is provided for convenience. Two split-system air conditioners ensure climate control in both living zones, with the downstairs unit offering Wi-Fi connectivity.

The main bathroom is modern and well-appointed with a bath, shower, and vanity, accompanied by a separate toilet on the ground floor and an additional convenient toilet upstairs. The bedrooms are spacious with built-in wardrobes and large windows that allow for natural light. The outdoor space is generous for a townhouse, featuring a well-maintained lawn area ideal for children or pets.

Residents benefit from exclusive access to complex facilities including an in-ground swimming pool, a tennis court, picnic areas, and expansive green spaces. The complex is conveniently located adjacent to Frascott Park, providing off-leash dog walking areas and gym equipment. With solar panels installed on the roof and low body corporate fees, this property offers a turnkey lifestyle option in a pet-friendly environment.

Property Style & Condition

Overall
modern
good
Condition
Exterior
contemporary
good
Condition
Livingroom
modern
excellent
Condition
Bedrooms
standard
good
Condition
Kitchen
modern
good
Condition
Bathroom
modern
excellent
Condition
Yard
landscaped
good
Condition

Key Features

3 bedrooms with built-in wardrobes
Corner position on high side of complex
End of quiet cul-de-sac location
New double carport with storage
Existing automatic single garage with internal access
In-ground swimming pool
Tennis court
GoodWe solar system and inverter
Timber-look flooring in living areas
Carpeted bedrooms
Modern bathroom with bath
Two split-system air conditioners (Wi-Fi enabled downstairs)
Internal laundry
Separate toilet upstairs
Recently recapped roof
Low body corporate fees
Pet-friendly complex
Adjacent to Frascott Park
Master-planned community of 84 units

Specifications

Property Details
Property Type townHouse
Architectural Style contemporary,standard
Stories 2
Parking Type attached garage, carport
Construction brick
Windows double pane
Gas natural gas
Internet nbn
Location & Setting
Setting suburban
Lot Position cul de sac,corner lot
Views park, green space
Beach Proximity short drive
Nearby Amenities
Near parks
Near train station
Near university
Near shopping
Rental Information
long term rental only

Exterior

pool
in ground swimming pool
tennis court
fenced yard
privacy fence
mature landscaping
double carport
carport
driveway
solar panels
solar panels
battery storage
gated community
hoa
community pool
tennis court
playground
walking trails

Indoor

open floor plan
tile floors
carpet
built in shelving
laundry room
ceiling fan
recessed lighting
sliding glass doors
kitchen island
dishwasher
heat pump
split system
gated entry
double story
Listed on 03 Sep 2026

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    Property     VARSITY LAKES     LGA

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VARSITY LAKES Statistics

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Crime in suburb of Varsity Lakes QLD

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Safety Rank

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Overall Crime

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5-Year Crime Trend (2020 - 2024)

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Property Crime Chance 1 in X
State Average (Violent) 1 in 84

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  Investment Viability Engine · 2026 Tax Rules

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1 The Property

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2 Your Situation

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3 Costs & Assumptions

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Interest on the borrowed deposit is also tax-deductible and is added to your gearing position. Your true out-of-pocket cash is reduced by whatever portion you borrow.
Borrowing capacity & serviceabilityCan you actually get the loan? Lender stress test.
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Ownership structure & income splittingSole, joint (split income), company or trust?
A negatively geared property usually works best held by the higher earner; a positively geared one benefits from being split to the lower earner. This is general information only.
Land tax (NSW)Annual holding cost on combined land value over the threshold.
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NSW 2026: nil up to $1,075,000 combined land value, then $100 + 1.6% of the excess, rising to $88,036 + 2% premium rate above $6,571,000. Computed land tax replaces the figure in section 3.
Cash buffer & risk capacityCould you survive vacancy, rate rises and repairs?
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Calculating…Verdict ?
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Your take-home profit over — yrs ?
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rent cash flow + capital gain − all costs & tax
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net rent + unrealised equity gain (no sale, no CGT yet)
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Comparing Common Investments ?
What this shows
Property value (grey bars, left axis) is the projected market value each year using your capital-growth assumption. The capital profit if sold line (coral, left axis) is the money you'd actually walk away with that year after repaying the loan, paying selling costs, paying CGT, and getting back the cash you put in. The rent collected line (teal, right axis) is gross annual rent received, grown at your rent-growth assumption.
What this shows
Three views of how the position evolves year by year. Property value (dashed) shows the asset growing at your capital-growth rate. Equity (coral) is value minus loan balance — how much of the property you actually own. Cumulative cash flow (teal) is the running total of all after-tax rent (positive) or top-ups (negative) you've put in since day one.
What this shows
The yearly cash position after every cost and tax effect. Green bars = positive years (the property paid you). Red bars = years you had to top it up from your pocket. This is the most honest picture of what holding the property feels like on a year-to-year basis.
What this shows
Where every dollar of the projected sale price goes. Net to you is what lands in your bank account; the rest is consumed by loan payout, selling costs and capital gains tax. The CGT slice depends on which regime applies (50% discount, indexation + 30% min tax, or a split of the two).

What this shows
How fragile your outcome is to the capital-growth assumption — the single biggest swing factor in any property forecast. Each point on the line re-runs the entire model at a different growth rate. Where the line crosses the dashed zero, that's roughly the growth rate needed just to break even over your hold period.

What this shows
The same upfront cash invested four different ways, held the same number of years. The property includes all rent, costs, tax and the final sale (after CGT and loan payout). The ASX 200 ETF compounds at its assumed total return; the gold line compounds at gold's long-run average; the inflation line is what you need to just preserve your purchasing power. Any year the property bleeds cash, that shortfall is invested in the comparison asset too (so they get the same total dollars over the life of the deal). Gains on the comparison assets are taxed under the same 2026-Budget CGT regime that applies to shares and ETFs — the transitional split (50% discount on the pre-1 Jul 2027 portion, then cost-base indexation + 30% minimum tax on the post-1 Jul 2027 portion), since non-property assets are never grandfathered.
What this shows
The full year-by-year ledger. Cash flow is pre-tax (rent minus all cash costs); tax effect is the value of any deduction or the tax bill on net profit; after-tax is the actual dollars in or out of your account that year. Cumulative is the running total.

About this model

Reflects the 2026 Federal Budget proposals (announced 12 May 2026): from 1 July 2027, negative gearing on established residential property bought after 7:30pm 12 May 2026 can only offset rental income / residential property gains (excess losses carry forward), and the 50% CGT discount is replaced by cost-base indexation plus a 30% minimum tax on the real gain accruing after 1 July 2027. The CGT change applies to all CGT assets (shares, ETFs, gold, crypto), not just property, so the comparison assets are taxed on the same basis. New builds retain full negative gearing and the choice of the 50% discount. Properties contracted on/before 12 May 2026 are grandfathered. The main residence, superannuation funds and widely-held trusts are exempt. These are proposed rules that may change in legislation. Resident tax rates 2025–26 are used (incl. 2% Medicare levy). This is general information, not financial, tax or legal advice — consult a licensed adviser before acting.
Purchase Cost Calculator

The True Cost of Buying this Property

Beyond the sale price, Australian property buyers face stamp duty, legal fees, inspections, loan charges and more. Adjust the purchase price and your state to see the full picture.

Purchase Price
$850,000
AUD
$100K $5M
Property State
Your Situation
Total Additional Costs
On top of the $850,000 purchase price in NSW
Extra Costs
$52,000
All-In Cost
$902,000
% of Price
6.1%
How these figures are calculated

Stamp Duty (Transfer Duty): Calculated using each state's 2024–25 residential transfer duty brackets for owner-occupiers. First home buyer concessions and investor surcharges are applied where selected.

Lenders Mortgage Insurance (LMI): Estimated at approximately 1.5–2.5% of the loan amount, assuming an 85% LVR. Actual LMI depends on your lender, LVR and loan size.

Conveyancing / Legal Fees: Typical range of $1,500–$3,000 covering contract review, searches and settlement. We use a mid-range estimate.

Building & Pest Inspection: Typically $400–$800 combined for a standard residential property.

Loan Application & Mortgage Registration: Includes bank application fees ($300–$600), mortgage registration (state-based, usually $150–$230) and transfer registration fees.

Council & Water Rate Adjustments: Estimated at around 0.1% of the purchase price — the buyer typically reimburses the seller for pre-paid rates.

These estimates are indicative only. Always confirm exact figures with your conveyancer, broker and the relevant state revenue office before committing to a purchase.

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Disclaimer: This calculator provides estimates only based on standard published rates for 2025-26. Actual stamp duty may vary based on individual circumstances, concession eligibility, and contract dates. LMI is a rough estimate only — actual premiums vary by lender, LVR, and loan size. Always verify with your state’s revenue office and seek professional advice before purchasing.

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Disclaimer: This calculator provides an estimate only and does not constitute a quote or loan approval. Calculations are based on standard APRA guidelines (including a 3.0% interest rate assessment buffer) and 2025–26 Australian resident tax rates. Lenders may apply their own specific Household Expenditure Measure (HEM) rules, risk margins, and varying credit card assessment rates (typically 3.8% of the limit). Rental income is shaded to 80%. Always speak to a licensed mortgage broker or lender for an exact assessment.

Refinance Savings Calculator

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