2 Edgevale Road, Bulleen VIC 3105

Large lot | 1970s build | renovation scope | resale risk | yield moderate The 627m² lot is the primary value driver here, but the 1993 purchase price and 46-day market time suggest the house itself carries holding risk. Renovation costs may not fully recover unless you capture the second-storey potential for city views, which adds execution complexity. The rental yield at $810/week is below the area median, so short-term holding relies on capital growth in a +1.3% market. This is a land play requiring patient capital, not a turnkey investment. The single-level layout and rear yard offer rare family functionality in a suburb with 79% owner-occupation on Edgevale Road, which supports stable demand. Proximity to Belle Vue Primary and parklands strengthens appeal for owner-occupiers, while the development overlay free from flood or heritage restrictions provides strategic flexibility. This property best suits a buyer who can delay returns and manage a phased upgrade, or a family seeking a long-term hold with optionality. A review of comparable recent sales in the area confirms a value range that aligns with the upper end of current listing expectations, reinforcing the lot’s core worth. To proceed, order a building and pest inspection to scope renovation costs, then model your exit timeline against local growth projections.