78 Phillip Avenue, Downer ACT 2602

Subdivision unlocked within block | Reversion cost for third bedroom | Rumpus layout caps family appeal | Land tax burden remains high This property requires a decision on how the original bedroom layout is restored. The current open rumpus configuration reduces functional family utility, and reinstating the third bedroom involves a stud wall cost of approximately $3,000–$5,000. The 769m² block sits below the 800m² threshold typically sought by developers, so subdivision potential is limited without rezoning. However, the land-to-building ratio at 28% site coverage offers expansion opportunity for a rear extension or granny flat, subject to council approval. For a buyer seeking long-term hold with scope for value-add, this house works best as a renovation project rather than a turnkey family home. The competitive advantage here is the 212m² building footprint on a level 769m² block in Downer, where 85% of Phillip Avenue properties are owner-occupied and the suburb achieves a 78% auction clearance rate. Priority enrolment for Majura Primary School and Dickson College underpins appeal for families, while walkability to light rail and Knox shops adds daily convenience. This property serves a buyer prepared to invest in minor structural changes to unlock the full three-bedroom configuration and then capitalise on low supply in a tightly held street. Engage a building inspector to confirm stud wall feasibility and then proceed with an offer below the estimated $1,058,000 valuation to secure a renovation discount.