I was going to say 201 sqm but it's 211 m2. You would need a clever design to maximise that space. Money I don't have
http://reiwa.com.au/Real-Estate/Perth-Metropolitan/3422683
It's not rocket science. You could plonk a $200k 3 x 2 single storey on on it if you really wanted to and it would rent for $550 a week. $500k for $550pw is a much better deal.
It doesn't have to be anything special to get a good rental - check out this rental
http://www.realestate.com.au/property-villa-wa-maylands-412173151