The keys at number 119 Kent Street, Millers Point, don't come cheap.

The home’s new owner handed over $1.911 million on Thursday night – well above the $1.3 million pre-auction price guide, and a serious step up from the $77.20 a week the last tenant was paying. The unrenovated four-bedder was the first state-owned terrace house in the historic Sydney harbourside precinct…