A good price is about $635,000. I would walk past $670,000.

• 18 Undurra Drive, Glenfield Park NSW 2650 is a ~92m2 house on a 790m2 corner block, listed at $650,000 and 6 days on market.
• Two things drive the number on this one. The first is size. CoreLogic has the home recorded at 128m2 internal, but the agent's own floorplan says 92m2 internal plus 77m2 external, and Domain says 92m2 as well. Both sources agree exactly on all four sales below and only disagree on this house, so 92m2 is the figure to work off. That makes it the smallest home of everything it is being compared to.
• The second is condition. I went through the full photo set. The kitchen is original with a mint green laminate benchtop and matching splashback, the bathroom is original with grab rails fitted to the bath and the toilet, and the carpet, curtains and blinds are all original. It is clean and it has plainly been looked after, but nothing has been updated. The home has had the one owner since 1991.
• What it does have is the shed. The enclosed carport is 6.32m x 9.94m, about 63m2 with its own slab and a full width roller door, which is a real drawcard in Wagga. There is ducted air conditioning, and 790m2 on a corner.
• Adjusted back to this property for size, land, the shed and condition, those four sales land at $598,100, $639,000, $642,996 and $666,734. That centres on about $637,000. The important one is 29 Goborra Street: it is the closest sale in price and it is updated inside where this one is not, so this home does not deserve that money even before you count its smaller size.
• My mark sits below both the CoreLogic and Domain automated estimates of $630,000 and $640,000, and that is deliberate. Neither model can see that this house is original while the sales it gets measured against are updated, and CoreLogic's figure is calculated off a 128m2 record for a home that is actually 92m2, so it overstates.
• The other side of it is that the campaign is only 6 days old against a suburb average of 25 days, so the vendor has no pressure on them yet and may well sit on the $650,000 for a while. Worth knowing the home has been in the one pair of hands since 1991, so there is no purchase price they are trying to recover, and a clean settlement may be worth more to them than the last few thousand.
• A good price to pay is around the $635,000 mark, still fair up to $655,000. I would walk past $670,000 - above that you are paying updated money for an original house, and the smallest one of the lot.