Waterford West, Queensland mortgagee duplex sold for $90,000 loss

A Waterford West, Queensland mortgagee duplex has sold for $285,000.

It marked a $90,000 reduction on its 2009 sale price of $375,000.

Brian Reynolds of Century 21 held the listing.

Situated at 1/92 Logan Reserve Road, it was built in 2009.

Set on 155 sqm, it was unsuccessfully marketed from 2014 - 2016 with an asking price starting at $370,000 before being reduced a number of times to $315,000. 

It was also listed from May to November of 2018 seeking $320,000.

The three bedroom two bathroom property features a single lockup garage and a fully fenced rear yard.

Listed as a rental in 2016 with an asking price of $360/pw and in 2018 with an asking price of $340/pw.

The median price for a home in Waterford West is $349,200, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 1.1%.