The verdict at N-Park Condominium is a clear whole-unit letting play in a high-density student and healthcare catchment beside Universiti Sains Malaysia (USM). Active portal sweeps show 81 live rental listings on Mudah, where standard 3-bedroom 700 sq ft layouts ask RM1,300 to RM1,700 with a mode of RM1,400–RM1,700 a month (measured), and larger 850–1,000 sq ft plates ask RM1,600 to RM2,400 (measured). Listing activity is constant, with 15 listings relaunched within 48 hours, while SPEEDHOME’s own board carries zero dedicated listings — representing an immediate first-mover advantage for zero-deposit landlords. Room letting loses decisively on arithmetic: the sole verified in-building room listing offers an entry rate of RM390 a month (search excerpt), where three rooms generate just RM1,170 — trailing the whole-unit mode by hundreds of ringgit. Short-stay demand is non-existent with zero building-named Airbnb listings (measured null). Against a verified Brickz transacted median of RM380,000 (RM543 psf; search excerpt), gross yields work out to ~4.4–5.4% at the median (derived, Brickz-basis) and ~5.3–6.4% at the lower P25 quartile of RM320,000. The primary operational challenge is intense internal competition across 988 units in four 1997-vintage blocks, where clean functional presentation and semester timing dictate void length.
Three ways to run your unit
Choose an operating model based on measured rental demand and building physics. The calculator loads the whole-unit rental baseline from measured portal evidence and Brickz transacted sales.
- Whole-unit letting (Default base case): The whole-unit market at N-Park is deep and agent-driven. On Mudah, 81 live listings compete for tenants, with frequent relaunch waves (15 listings updated within two days). For standard 3-bedroom 700 sq ft units, asking rents range from RM1,300 to RM1,700 with a dense mode of RM1,400–RM1,700 a month (measured). Larger 850–1,000 sq ft plates (including duplex units and full renovations) command RM1,600 to RM2,400 a month (measured). SPEEDHOME currently holds zero dedicated listings on its board (with three nearby corridor comps in Gelugor and Bayan Lepas). Offering zero-deposit tenancies provides immediate differentiation against competing portal listings for USM students, lecturers, and Penang Bridge commuters.
- Room rental (Loses on arithmetic): The single measured in-building room rental datum is an offer-level listing echoing "Rental Fees - As low as RM390/month" (search excerpt). In a standard 3-bedroom unit, renting all three rooms at this entry rate produces RM1,170 a month (3 x RM390 = RM1,170), which falls substantially below the RM1,400–RM1,700 whole-unit rental mode. Factoring in tenant management friction, individual utility disputes, and the cost of electrical submeters in a 1997 floorplate, room partitioning is economically unviable. Whole-unit letting remains the superior model.
- Short-stay letting (No market exists): An Airbnb sweep across 19 nearby listings identified zero building-named listings at N-Park (measured null). All returned listings were generic suburban inventory in Gelugor and Bayan Lepas. Furthermore, Penang state regulations and strata guidelines strictly restrict commercial short-term rentals in residential high-rises. Operating short-stay here carries regulatory risk without any demonstrated premium. Do not underwrite short stay.
Loading the renovation ROI comparison…
What can you earn?
Rental yields at N-Park derive from verified Brickz transaction records and measured whole-unit rents:
- Transacted purchase baseline: Brickz records a median transacted price of RM380,000 (median psf of RM543), with transactions spanning RM320,000 (P25) to RM400,000 (P75) (search excerpt). On Mudah, 8 units are actively advertised for sale with starting prices between RM330,000 and RM450,000 (measured).
- Annual gross rental income:
- At the lower modal rent of RM1,400 a month:
RM1,400 x 12 = RM16,800 gross annual rent (measured asking mode). - At the upper modal rent of RM1,700 a month:
RM1,700 x 12 = RM20,400 gross annual rent (measured asking mode). - Derived gross rental yield (Brickz median RM380,000):
- RM16,800 / RM380,000 = 4.42% (~4.4% gross).
- RM20,400 / RM380,000 = 5.37% (~5.4% gross).
- Gross yield band at median: ~4.4–5.4% (derived, Brickz median basis, before fees).
- Derived gross rental yield (Brickz P25 RM320,000):
- RM16,800 / RM320,000 = 5.25% (~5.3% gross).
- RM20,400 / RM320,000 = 6.38% (~6.4% gross).
- Gross yield band at entry pricing: ~5.3–6.4% (derived, Brickz P25 basis, before fees).
Operating costs and maintenance fees:
Maintenance fees show conflicting figures in public snippets: a live listing post reports RM176/month (search excerpt), whereas older portal summarizer text cites RM100/month. Official rates are not published in public registries and must be verified directly with the management office (reported RM100–RM176/month). SPEEDHOME charges a 2.19% landlord processing fee (+ SST) on collected monthly rent, payable only upon successful placement. Landlord protection plans are available: Standard at RM799/year + SST flat, Protect at 1.0 month of rent, and Protect+ at 1.5 months of rent. See the real cost of self-managing a rental.
Why N-Park Resort Condominium
N-Park Condominium (also known as N-Park Resort Condominium) is a freehold high-rise residential development completed in 1997 by Pernas Group on Jalan Batu Uban, Gelugor, under the jurisdiction of Majlis Bandaraya Pulau Pinang (MBPP). The development comprises four residential towers of 30 to 32 storeys housing 988 units. Standard floorplates are 3-bedroom, 2-bathroom layouts with published built-ups of approximately 560 to 732 sq ft (with 700 sq ft representing the dominant modal plate), alongside selected duplex layouts reaching 1,000 sq ft.
The development’s primary commercial anchor is its immediate adjacency to Universiti Sains Malaysia (USM). Located within walking distance of the university gates and minutes from the first Penang Bridge, Queensbay Mall, and the Bayan Lepas Free Industrial Zone (FIZ), N-Park serves a steady catchment of undergraduate students, postgraduate researchers, academic staff, and healthcare personnel from Hospital USM. Rental cycles are tightly tied to university semester intakes, with elevated leasing activity in February/March and September/October.
Operating successfully in N-Park requires mastering internal scale. With 988 doors in the complex and 81 active listings on Mudah, prospective tenants have multiple identical 700 sq ft layouts to choose from. Landlords do not win on luxury upgrades; student and healthcare tenants prioritize clean sanitary ware, reliable air conditioning, working kitchen basics, and competitive pricing. Units presented in clean condition with zero-deposit terms let quickly, while dated or overpriced units face prolonged semester-long voids.
5 checks before you buy
-
Verify the parcel’s exact built-up on the strata title — recorded floor areas vary from 560 to 732 sq ft. A 560 sq ft unit carries a tighter living space than a 700 sq ft standard plate and commands different tenant appeal. Done: strata plan inspected with confirmed built-up area.
-
Audit official maintenance statements and sinking fund balances — public snippets show conflicting maintenance fees between RM100 and RM176 a month. In a 1997 scheme across four 30-plus-storey blocks, confirm whether lift modernisation, water pumps, and repainting funds are adequately provisioned. Done: latest 12-month billing receipts and audited AGM accounts reviewed.
-
Inspect waterproofing and sanitary plumbing — high-rise properties nearing thirty years of age frequently encounter inter-floor leaks, failing bathroom waterproof membranes, and low water pressure on higher floors. Inspect ceilings and pipe stacks thoroughly. Done: bathroom flood test and pipe inspection completed.
-
Align tenancy leases with the USM academic calendar — undergraduate and postgraduate students operate on strict semester schedules. If a tenancy terminates mid-semester, finding replacement tenants can prove difficult. Structure 12-month agreements to expire during major intake periods. Done: tenancy start dates matched to academic calendar.
-
Focus capital spend on functional restoration, not luxury carpentry — the student and healthcare workforce demographic prices strictly on functionality and affordability. Avoid expensive custom built-ins that will not amortise. Budget instead for modern air conditioning, fresh paint, and clean mattresses. Done: fit-out budget aligned with the SPEEDRENO rental fit-out guide.
FAQ
What rental yield does N-Park Condominium deliver?
Based on verified Brickz transactions with a median price of RM380,000 (RM543 psf) and measured 3-bedroom asking rents of RM1,400 to RM1,700 a month, N-Park delivers a gross rental yield of approximately 4.4% to 5.4% at the median (derived, Brickz-basis, before fees). For entry-tier purchases at the P25 transaction level of RM320,000, gross yields reach approximately 5.3% to 6.4%.
Is room rental profitable at N-Park Batu Uban?
No. The only verified in-building room listing offers an entry rate of RM390 a month (search excerpt). Renting three rooms at this rate yields RM1,170 a month, which is substantially lower than the RM1,400 to RM1,700 achieved through conventional whole-unit letting. When submetering costs and multi-tenant management overhead are included, room rentals are clearly inferior. See the room rental and co-living guide.
Is short-stay or Airbnb allowed at N-Park?
There is no active short-stay market at N-Park, with zero building-named Airbnb listings identified across 19 local properties (measured null). Furthermore, Penang state authorities and residential strata by-laws heavily restrict short-term tourist lettings in residential schemes. Landlords should strictly focus on 12-month residential tenancies.
What tenant demographic rents at N-Park?
The primary tenant base comprises Universiti Sains Malaysia (USM) students, university researchers, medical staff from surrounding healthcare centres, and junior professionals commuting to Bayan Lepas FIZ or across the Penang Bridge. Demand is seasonal and aligns closely with academic semester intakes. For wider regional market trends, explore the Penang rental guide and the landlord investment decision guide.
What running it looks like
Managing an N-Park unit requires three baseline documents: the verified individual strata title, the latest management maintenance statement, and a signed inventory checklist. Because you are competing with dozens of listings in the same development, rapid tenant placement requires pricing at the modal market band (RM1,400–RM1,700 for standard 3-bedroom units) and presenting a well-maintained, move-in-ready property. SPEEDHOME coliving is cat-friendly — cats welcome in our coliving rooms; building rules can vary.
SPEEDHOME simplifies the entire letting process for landlords. We advertise your listing under zero-deposit terms to capture high-quality students and working professionals, conduct thorough automated background and credit checks, manage viewings, and automate monthly rent collection. Landlords retain full control, approving every tenant profile before any agreement is finalised. The plans sit on top: Standard at RM799 + SST a year flat, Protect at one month's rent, and Protect+ at one and a half months, supported by a 2.19% landlord processing fee (+ SST).
Ready? List with SPEEDHOME — zero deposit, we run the viewings, you approve the tenant.
The Mudah rental entity read (81 cards, 3-bed 700 sq ft mode RM1,400–RM1,700, large plates RM1,600–RM2,400), SPEEDHOME zero dedicated listing count, Facebook listing echoes (room rate floor RM390/month, maintenance RM176/month), Brickz transacted search results (N-PARK GELUGOR median RM380,000 / RM543 psf; transactions RM320,000–RM400,000), and Airbnb zero-named listing data were collected on 11 October 2026 (evidence artifact n-park-batu-uban-market-evidence-2026-10-11.yaml, lane bi-mine-10, server readers). Gross yields of ~4.4–5.4% (median) and ~5.3–6.4% (P25) are derived from loaded Brickz median and quartile purchase denominators. Maintenance fees conflict between raw listing echo (RM176/mo) and summarizer text (RM100/mo); official rates are not published. Short-stay listings are absent and restricted by state strata guidelines. For related guidance, see the room rental and co-living guide, the SPEEDRENO rental fit-out guide, the Penang rental guide, and the landlord investment decision guide.