2/20 Foot Street, Frankston VIC 3199

Flood overlay risk | Two-bedroom unit in Frankston | Land value opportunity | School catchment appeal This property carries a confirmed flood overlay, which directly increases insurance costs and may limit future renovation scope—on a 368m² lot, this risk must be priced into your offer. The unit benefits from Frankston’s strong suburb fundamentals: 9.3% annual growth in the two-bedroom segment, 81% auction clearance rate, and high-demand school catchments. Given the land size, this is a hold-for-capital-growth play, not a short-term flip. Competitively, the 368-370m² lot is rare for a strata unit in this corridor—most comparables sit on smaller parcels, giving you positional leverage. The light-filled layout and private outdoor area strengthen appeal for owner-occupiers seeking space without a full house. Best suited to a buyer with a 5+ year horizon who can absorb the flood risk premium; the Frankston High School zone provides enduring demand insulation. Book a flood report and strata inspection this week to quantify the insurance buffer needed for your final bid. Sales history: – Jul 2021: $600k (private treaty, 20-33 days) – May 2005: $180k – Jul 1996: $83k Implied growth from $600k to current estimates near $700k aligns with suburb-wide trends, but the flood overlay means you are buying the land’s potential, not the current unit’s premium.