The fibro home on David Street in Greenacre has three bedrooms and two bathrooms but is in urgent need of repair, with the landlord promising to offset spending.
Chehade described the property as uninhabitable in the listing because the walls need painting, the timber floods need sanding and rooms need to be gyprocked again.
“Demand has been crazy,” Chehade said.
“Within a few hours we had 50 to 60 inquiries.”
He said it would be a win-win for the landlord and the tenant.
“The property has been in the family for over 50 years.
“They have started some work on it but it has been like it for three years.”
Chehade said tenants would need to have a trade license to be successful and many qualified applicants had already enquired.
“There is a demand for rental properties, there is not enough rental properties in the market at the moment and there is an opportunity for this one.”
The home could lease for $650 per week meaning it would save the owner $33,800 per year.
According to Canstar Blue, the average minimum cost to renovate a home of this size is $42,500.