8/37 Moonya Road, Carnegie VIC 3163

2 bed townhouse | Carnegie prime school zone | 110sqm land | no overlay risk | strong comparables nearby The buying case rests on scarcity. Two-bedroom townhouses under 120sqm with no heritage or flood overlay are rare in Carnegie’s Glen Eira pocket, and this one sits inside the Carnegie Primary and Glen Eira College zones—a structural demand driver for families and downsizers. The floor area is efficient at 116sqm, and the single car space is acceptable for this price tier. The recent sale of 6/37 Moonya Road at $1.058M in October 2024 provides a credible floor for value, suggesting the current range is not overreaching. The property suits a buyer seeking a low-maintenance position in a proven school catchment with minimal natural hazard risk. The risk is the land size—110sqm limits future subdivision potential and reduces capital growth relative to larger townhouses in the same street. The rental yield at $795 per week is modest for the price, meaning an investor holds for capital gain not income. The building itself is a multi-unit complex, so body corporate costs apply and resale competition from identical units exists. The opportunity is to hold this property as a core suburban holding in a constrained market—buy only if the school zone and low overlay risk are the primary logic, not speculation on land value alone.