Thanks for the information, really appreciate your input.  You've given me figures which match my agent's appraisal.

The homes are tenanted so a little hard to have them nicely presented. The homes are wheatherboard and no garages. We are getting some interest from builders who don't want to look in the homes. I'm pretty sure that you can fit 6 units/townhouses on the site if the homes were demolished. Developers have entered the suburb and there's currently interest in the larger blocks.

Thanks again, we'll see what happens