Half complete Merewether, NSW mortgagee home sold for no profit

A half-built mortgagee home in Merewether, New South Wales has been sold for $1.21 million.

This price is slightly below the asking price of $1,250,000 to $1,350,000

David Tanchevski and Lily Chagorski of Stone Real Estate marketed the property.

Situated at 74 Merewether Street, the home, on completion, will be a four bedroom two bathroom house.

Set on a 387 sqm block of land the partially built home has basic structure completed and ready for stage two, according to the listing.

The home has a build value of $490,000, according to the DA recorded on CoreLogic.

The holding last sold for $1.13 million in 2017.

It is located a 10-minutes' walk from beaches and restaurants as well as numerous amenities.

The median sale price for a home in Merewether is $1,250,000, according to the latest CoreLogic data.