2 Muriel Reidy Street, Maribyrnong VIC 3032

Flood overlay confirmed | Bushfire risk present | Heritage controls limit reno potential | Leasehold yield below 3% demands scrutiny The property carries layered government overlays that directly cap redevelopment upside and inflate holding costs. A flood overlay on a 454-square-metre lot near Maribyrnong River means insurers will load premiums by an estimated 20-35%, and any future extension must meet council flood-proofing standards costing buyers $30,000-$60,000 before a single brick is laid. The bushfire and heritage overlays further restrict external modifications beyond basic landscaping, making this a buy for steady yield not capital gains. Unless you intend to live in it and absorb these costs as lifestyle trade-offs, this house functions better as a long-term rental hold than a flipper’s target. What separates this offer is the rare four-bedroom double-storey floorplan with a north-facing master balcony and an oversized alfresco zone with louvre shutters—configurations that command premium rent premiums among young families who want inner-city commuter access and a quiet river pocket. The FTTP NBN and 3-car secure parking lock in desirability for working households, while the Footscray North Primary and Maribyrnong Secondary College zoning gives it a structural demand floor. Edgewater’s limited supply and 7.4% suburb median growth mean patient buyers who hold through the 3.3% rental yield will benefit from steady capital creep as nearby high-density projects push scarcity higher. Next step is a full council property enquiry on overlay cost estimates and a flood-risk report before your EOI deadline.