Same $1,299,000, 15 m² apart
At Keystone in Morningside, the floorplate of 1 September 2026 shows only three apartments left with a price on them — and two of those carry exactly the same price: Unit 501 and Unit 502 are both $1,299,000, but 501's total area is 127 m² against 502's 112 m² — a difference of 15 square metres. Both are three-bedroom, three-bathroom, two-car apartments.
The entry is Unit 202 at $1,149,000 (three bedrooms, two bathrooms, 106 m² total). Two things have to be said about this project first: the material contains no photographs or renders at all, and the developer's own website, keystone4170.com.au, no longer resolves — both of which change how due diligence has to be done here.
$1,149,000from · 3 bed, 2–3 bath, 2 car · 106–127 m² total · Morningside
Price and area · Keystone
Same price, different area — the first thing to look at
A note on basis first: the builder's market report we hold has no Morningside statistics page, and the project documents carry no median price, median rent or vacancy rate, so we are not importing unsourced suburb numbers. What can be verified is the prices and areas on the floorplate of 1 September 2026.
- Price
- $1,149,000 – $1,299,000floorplate of 1 September 2026
- Internal area
- 93 – 104 m²external 13 – 23 m²
- Total area
- 106 – 127 m²
- Same-price gap
- Unit 501 (127 m²) and Unit 502 (112 m²) are both $1,299,00015 m² apart
- Configuration
- 3 bed, 2 or 3 bath · 2 car
- Photographs and renders
- nonethe project website no longer resolves
- Rental appraisal for this project
- noneno rent figure appears in the documents
That same-price line is the first fact to confront: at an identical $1,299,000, Unit 501's total area is 15 m² larger than Unit 502's (104 against 99 m² internal, 23 against 13 m² external). Both are three-bedroom, three-bathroom, two-car apartments on the same level (level 5). The floorplate does not explain why the prices match — aspect, outlook or position could all be the reason. Before choosing between them, the sales office has to answer: why 501's extra 15 m² is not reflected in the price, and what 502 has that 501 does not.
Another comparison is worth making: Unit 202 is $1,149,000 for a three-bedroom with two bathrooms and 106 m² total; a hundred and fifty thousand more buys a third bathroom plus 6 to 21 m². For a household that wants the third bathroom, that is a clear step.
The rent line has to stay empty and be said plainly: this project has no rental appraisal and the documents carry no rent figure, so we are not calculating a yield.
For sale · Keystone
The three apartments still carrying a price
Prices and areas come from the floorplate of 1 September 2026 (Keystone Morningside 01092026.pdf), lowest price first. Every other apartment on that floorplate is marked sold; a ground skyhome has no price and is not listed.
| Unit | Type | Level | Internal / external / total | Configuration | Price |
|---|---|---|---|---|---|
| Unit 202 | Type D | Level 2 | 93 / 13 / 106 m² | 3 bed, 2 bath, 2 car | $1,149,000 |
| Unit 502 | Type J | Level 5 | 99 / 13 / 112 m² | 3 bed, 3 bath, 2 car | $1,299,000 |
| Unit 501 | Type I | Level 5 | 104 / 23 / 127 m² | 3 bed, 3 bath, 2 car | $1,299,000 |
First, finish the same-price question. Units 501 and 502 share a price, a level and a configuration, while 501 has 5 m² more internal and 10 m² more external — 15 m² more in total. Against $1,299,000 that is about $10,228 per square metre for 501 and about $11,598 for 502, 13% apart. On the numbers alone 501 is clearly better value, but the floorplate states no aspect — 502 may have something 501 does not (aspect, outlook, quiet), and that has to be established before deciding, rather than choosing on area alone.
Unit 202 is the entry: three bedrooms, two bathrooms, 106 m² total, on level 2. A hundred and fifty thousand below the level 5 pair, at the cost of a bathroom and three floors of height. For a budget-led buyer for whom three bedrooms and two bathrooms is enough, it is the clear choice.
Choose aspect and level first, then compare prices — and between 501 and 502 there is no price difference at all. They carry the same figure, so the decision rests entirely on aspect, outlook and quiet. The floorplate states no aspect, and the project has no photographs or renders to work from. Inspecting is the only way, and both should be seen on the same day, standing on each balcony in turn.
Delivery and contract · Keystone
The completion status has to be confirmed in writing
This project has several gaps on the delivery side that have to be stated first, because they change how due diligence works:
Price basis
The floorplate of 1 September 2026 (Keystone Morningside 01092026.pdf). The WeChat note of the same date matches these three prices.
Availability
Every other apartment on that floorplate is marked sold; a ground skyhome has no price.
Completion
The project documents contain no completion date. A third-party listing (apartments.com.au) gives completion as "estimated early 2025", but that listing is noted by the developer as unmonitored.
Developer's website
keystone4170.com.au no longer resolves (checked 25 September 2026).
Then there is what has to be obtained before contract. This list is longer than usual, for the reasons above:
Written confirmation of completion and settlement status
A third-party listing says "estimated early 2025" and the project documents give no date. Whether this is now complete, under construction, or built and awaiting settlement must be confirmed in writing — that is the first item.
Photographs, renders and an inspection
The project has no photographs or renders, and the developer's website no longer resolves. Request an image pack from the sales office and arrange an inspection; with the imagery missing, inspecting is not optional.
The body corporate budget and lot entitlement schedule
No levy figure appears anywhere in the material. An apartment necessarily carries one, and the third-party listing mentions a landscaped rooftop terrace, barbecue and bike storage, all of which the levy funds. Council rates and insurance too.
Why Units 501 and 502 share a price
Same price, same level, same configuration, 15 m² apart — establish what 502 has that 501 does not.
Aspect and floor plans
The version with north marked.
The finishes schedule and the developer's current status
Beyond the schedule, confirm who the current contacts and responsible parties are on the developer and sales side — the website no longer resolving is itself something to explain.
Queensland transfer duty sits on top of the price, and any concession depends on your circumstances and must be confirmed by a licensed adviser.
What the building gives · Keystone
The amenity information comes from a third-party listing, not the project material
To be stated honestly: the project documents give only the plan, areas, configuration and price. The shared amenity below comes from an apartments.com.au listing (read 25 September 2026), and that listing is noted by the developer as unmonitored — so treat it as a lead to verify, not as confirmed specification.
- 3 bed, 2 or 3 bath
- 2 car
- 93–104 m² internal
- Landscaped rooftop terrace (third-party listing)
- Barbecue (same)
- Bike storage (same)
- All shared amenity above to be verified with the sales office
For an owner-occupier, the product itself is clear: three bedrooms with two car spaces, 93 to 104 m² internal, in Morningside in Brisbane's inner east. Three bedrooms with two car spaces is a practical configuration in an inner-city apartment, and the two level 5 apartments add a third bathroom.
But the unusual nature of the due diligence has to be stated plainly: no photographs, no renders, a developer website that no longer resolves, and no documented completion date. That means the normal "look at the images, then inspect" sequence does not work here — an inspection is the first step rather than the last, and written confirmation of the completion and settlement status should come before it.
For an investor, the objective conclusion is: no rental appraisal, no Morningside statistics and no levy figure, so a yield cannot be calculated. The product characteristics are favourable (an inner-east three-bedroom with two car spaces), but until those documents are in hand, no model has a foundation.
Location · Morningside
Where it is, and what the documents do and do not say
- Locality
- Morningside, Brisbane City CouncilBrisbane's inner east
- Configuration
- 3 bed, 2 or 3 bath · 2 car93 – 104 m² internal
- Project photographs and renders
- none
- Developer's website
- keystone4170.com.au no longer resolves (checked 25 Sep 2026)
- Schools in the project documents
- not listedverify on EdMap
- Railway station, supermarkets and drive times
- not listed
This has to be stated honestly: the project documents give only the plan, areas, configuration and price, and name no school, supermarket, railway station, bus service or drive time. The one verifiable fact that can be added is that Morningside is in Brisbane's inner east, inside Brisbane City Council. What is actually a few minutes' walk from this building the documents do not answer — and with no photographs and no working project website, that can only be established on site.
Schools are the same: no document names a school, let alone establishes which state school catchment this building falls in. Catchments are set by the Department of Education and change, so a family buying for a school should take the contract address to the Queensland Government's EdMap and check the year the child actually enrols.
Who it suits · Keystone
Who it suits, and who should think again
It suits an owner-occupier who wants an inner-east three-bedroom with two car spaces — Morningside sits inside Brisbane City Council, and two spaces is a practical inclusion in an inner-city apartment. It suits a household that wants a third bathroom, since both level 5 apartments have one. It suits a budget-led buyer for whom three bedrooms and two bathrooms is enough, with Unit 202 at $1,149,000, a hundred and fifty thousand below the pair above. And it suits a buyer willing to inspect before deciding, because with no photographs that is the only way.
Think again if you need to see images before committing — the project has no photographs or renders and the developer's website no longer resolves, so normal online due diligence cannot be done. Think again if you need certainty on delivery: the project documents contain no completion date, a third-party listing says "estimated early 2025" but is noted by the developer as unmonitored, and whether this is complete, under construction or awaiting settlement must be confirmed in writing. Think again if holding costs matter, because no levy figure appears anywhere while the third-party listing mentions a rooftop terrace and barbecue, which the levy funds. Think again if you are deciding between 501 and 502 — same price, same level, same configuration, 15 m² apart — and do not decide until you know what 502 offers in return. And think again if you are buying for yield, with no appraisal and no levy figure.
For an image pack, written confirmation of the completion and settlement status, the body corporate budget and lot entitlement schedule, floor plans with north marked, an explanation of the Unit 501 / 502 pricing, or to arrange an inspection, contact FX Home.
FAQ · Keystone
The four questions buyers ask
If I buy now, when do I get the apartment?
The project documents contain no completion date. A third-party listing (apartments.com.au) gives completion as "estimated early 2025", but that listing is noted by the developer as unmonitored, and the developer's own website, keystone4170.com.au, no longer resolves (checked 25 September 2026). So the first step is not discussing a handover date but getting written confirmation of whether this is complete, under construction, or built and awaiting settlement.
Why do Units 501 and 502 cost the same?
This is the project's key question. Both are $1,299,000, both on level 5, both three-bedroom, three-bathroom, two-car — but 501's 127 m² total is 15 m² larger than 502's 112 m² (104 against 99 internal, 23 against 13 external). Per square metre of total area that is about $10,228 for 501 against $11,598 for 502, 13% apart. On the numbers 501 is clearly better value, but the floorplate states no aspect — 502 may have something 501 does not (aspect, outlook, quiet) — so establish that before deciding.
Why are there no photographs?
The project documents contain no photographs or renders, the developer's own website no longer resolves, and a search on 25 September 2026 found no usable public imagery. That means the normal "images first, inspection later" sequence does not work here — an inspection is the first step, not the last. We can request an image pack from the sales office and arrange a viewing.
What rent can I expect?
This project has no rental appraisal, the documents carry no rent figure, there is no levy figure either, and we hold no Morningside statistics, so neither a gross nor a net return can be calculated. The product characteristics are favourable (an inner-east three-bedroom with two car spaces), but a formal rental appraisal and the body corporate budget both need to be in hand before modelling it.
General information only; not financial, legal or taxation advice. All details are subject to the contract of sale and the disclosure documents. Prices, areas and configuration come from the floorplate of 1 September 2026 (Keystone Morningside 01092026.pdf), with the WeChat note of the same date matching these three prices; every other apartment on that floorplate is marked sold, and a ground skyhome has no price and is not listed; current material governs. The project documents contain no completion date, body corporate figure, council rates, insurance or finishes schedule, and no photographs or renders. A third-party listing (apartments.com.au, read 25 September 2026) states completion estimated early 2025 and mentions a landscaped rooftop terrace, barbecue and bike storage, but that listing is noted by the developer as unmonitored and the information must be verified with the sales office; the developer's website keystone4170.com.au no longer resolved on the same date. We hold no Morningside market statistics; this project has no rental appraisal, so no yield has been calculated. The project documents contain no school, supermarket, railway station or drive-time distances.
