The year 2004 was memorable for a few reasons; Newcastle girl Jennifer Hawkins became Miss Universe, Casey Donovan won Australian Idol – and you could nab a freestanding home in Mosman for just over one million bucks.

This Reginald St semi, set on 403 square metres, was the lower north shore’s best value property when it was first advertised in January of that year. And, when contracts were exchanged three months later, the new owners had indeed made an astute purchase.

“It was a property offering potential plus,” Robert Simeon tells Mosman Collective, “I said at the time the home was Mosman’s best value – and I was absolutely correct.”

Mr Simeon says the 2004 buyers of a Reginald St, Mosman property scored a well priced bargain.

The unrenovated Federation cottage featured high ceilings, polished floors, casement windows and “a recently updated” kitchen, opening to a private paved area.

Three bedrooms, separate living and dining areas, a good size laundry and car port completed the bargain basement package.

“The home was north facing, on a decent sized block, in a quiet street and just around the corner from Spofforth St shops,” Mr Simeon said.

“It was the perfect first family home for young professionals looking to enter the Mosman market.”

Mr Simeon said 17 Reginald St sold for $1.15 million. Today he estimates the property would be worth $3.5m “without improvements”.

“If the home has been renovated since 2004, then you’re looking at a much higher price.”