1310 Nepean Highway, Cheltenham VIC 3192

| Flood risk present | Growth event passed | Tight auction timeline | Study offsets limited study space | The key risk is the flood overlay likely compressing re-sale liquidity for this particular house, which costs a buyer negotiating leverage at auction. The August 2023 purchase, only 18 months prior and in a softer rate environment, has skewed the price guide; the gap between the guide and the mid estimate suggests the seller is anchored. The study adds functional depth but the formal lounge and vaulted rumpus create overlap rather than unique value. For a buyer, this house works if held medium-term, not flipped, and priced at the low end of the guide to account for the insurance uplift and buyer pool constraints. What makes this property compete is the weatherboard character, high ceilings, and solar PV, which are rare in this part of Cheltenham for a live-in family seeking separation between living zones. The proximity to beaches within ten minutes is a genuine differentiator against newer builds on smaller blocks. This house serves best a buyer wanting a period-feel family home with room for kids and a home office, who can absorb the flood premium. To proceed, commission the building report and review the flood zone maps before the auction.