5 Gertrude Street, Horsham VIC 3400

Solid lot size for the zone | 25% building coverage offers reno flexibility | strong rental yield potential for the area | no overlay constraints simplifies planning The property’s primary competitive edge is the 841m² lot with only 25% building coverage, which is unusually generous for an established Horsham block. This configuration gives a buyer rare room to extend, add a second dwelling, or reconfigure the existing 207m² footprint without triggering overlay approvals. The installed solar panels and reliable NBN reduce holding costs and improve tenant appeal, while the lack of bushfire, flood, or heritage overlays removes common due diligence delays. This property is best suited to an owner-occupier with renovation ambitions or a buy-and-hold investor seeking above-median rental yield in a stable regional market where 85% of nearby properties are owner-occupied. The main risk is the property’s condition—it is being marketed as a project, so capital expenditure for structural or cosmetic work should be budgeted at $40,000 to $80,000. The estimated rental income of $390 per week, however, supports a gross yield near 6.8% on a conservative purchase price, which is strong for the region and offsets holding costs during a renovation. The median days on market for two-bedroom houses in Horsham is 56 days, so resale liquidity is reasonable if the work is completed to local standards. A sensible approach is to negotiate a price below the lower valuation range, fund improvements from cash or a renovation loan, and either hold for long-term equity growth or sell post-reno to a downsizer or first-home buyer.