5 Buccaneer Court, Paradise Waters has sold in a $3.6m deal.

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A Queensland homeowner has made a huge $775,000 in just 10 months after cashing in their property in a hot market.

Russell Rollington of First National Surfers Paradise handled the sale of 5 Bucaneer Court, Paradise Waters. The six-bedroom home changed hands in November, 2023 for $2.825m, and sold again last month for $3.6m.

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Make a splash in the pool.

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“The property offered a great entry-level opportunity into Paradise Waters,” Mr Rollington said.

“The home did present better with new paint, furniture and some updates.”

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The view of the Surfers Paradise slyline from the property.

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The buyer was from the Gold Coast and bought the property as an investment — it is now up for rent at $2350 per week.

The brick and tile double level home is on a 790sq m block with its own sandy beach.

It includes open plan living and dining areas, voids, kitchen with serving window, granite benchtops, separate study, north-facing pool and wrap around balconies.

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Mr Rollington said the sale was a good indication of the market.

“We are still seeing a strong demand for premium waterfront real estate in suburbs such as Paradise Waters and nearby areas being so central, close to the beach, the city and Broadwater access for boating,” he said.

Paradise Waters is a locale of Surfers Paradise and is known for its riverfront mansions and record-breaking sales.

The median house price in Surfers Paradise is $3m, up 8.7 per cent over 12 months.