Back of the House:
The block is fairly large for inner-city (506sqm). A lot can be done with the land behind the house - either by landscaping (flowers, fruit, chickens), extending the deck, or adding more rooms. The property is zoned LMR. There's a rainwater tank (5000 litres) as of 2009. This is plumbed into the washing machine and has a normal outlet for the garden. A termite monitoring system has been in place for some years, ensuring that there's no activity.
Under the House:
The car space can fit a normal-sized car but not SUVs (i.e. tall cars). The neighbour downhill has added a carport in front of the house, which is worth considering if you have a bigger car.
The laundry is under the house, along with good storage space. There is obvious potential to raise the house a small amount to build rooms under. (You will never be short of tenants with QUT and the RBH nearby.)
The house has been possum-proofed (with wire blocking access under the house and under eaves) and has a service warranty to be possum and rat-free until October 2014.