There's a saying in real estate, location location location, and you won't find better than this magnificent level arable and flood free property on one of the most sought after roads in prestige Castlereagh. This amazing property offers 2 large homes with unsurpassed views over Penrith Lakes towards the Blue Mountains beyond. House 1: This modern contemporary new Hampton style 5 bedroom home comes with a full ensuite, formal lounge with feature gas fireplace, sleek modern kitchen with Ceasarstone benchtops and a Smeg 90mm oven/cook top, family room, stunning eucalyptus timber floors, plantation shutters, ducted reverse cycle air, and double remote garage. House 2: This character filled 5 bedroom home features 10 foot ceilings, country timber kitchen, formal lounge with gas fireplace, timber floors, ducted reverse cycle air, and lazy verandahs on which to relax and take in those views. The property also hosts the original Castlereagh Public School building which dates back to 1879 and would make a fantastic conversion to a cafe or airbnb (STCA). Further improvements include landscaped gardens, post 'n' rail fencing, town and bore water, 4 car shed, carport, electric entrance gates, a stable and aviary block, a paddock, huge rental income potential and more. This property suits 2 families, or live in one and rent out the other or for the astute investor a rare cash flow positive acreage property. Agents comments: "An absolutely wonderful property offering so much with its easy access to Penrith CBD. Inspect and fall in love." This property will be going to Auction Saturday the 6th of November (unless sold prior). AGENT FULLY VACCINATED.