South Gladstone mortgagee listing reduced to one third price after 6 years

A South Gladstone mortgagee has listed a home for a third of the price being sought by the owner six years ago.

The two bedroom one bathroom townhouse now has an indicative price guide of $85,000, however in 2013 the owner was asking for $240,000.

Luke Watts of Elders real estate holds the listing.

When sold in 2006, the home traded for $148,000.

Situated at 9/131 Toolooa Street, the residence was built in 1980.

Set on 75 sqm, the home features a back timer deck and balcony.

The two storey property is located a minutes drive to the CBD plus the harbor and within walking distance of shopping centres and schools.

The median price for a home in South Gladstone is $230,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -5.8%.