124 Wallace Street, Bairnsdale VIC 3875

Solid brick veneer | 335sqm build on 725sqm | opposite hockey fields | 85% owner-occupied street | FTTP connected The case for buying 124 Wallace Street rests on its unusual configuration: a 335-square-metre building on a standard residential lot creates genuine scarcity in Bairnsdale. Most buyers overlook floor area as a value driver, but here it translates to generous room proportions, a proper garage with carport, and a shed , features that typically command a premium in the $560,000–$575,000 range. The street profile is the strongest demand signal: 85% owner-occupied with 61% of residents staying beyond five years suggests low turnover and stable neighbourhood character, which directly supports resale liquidity. This house suits a buyer who wants move-in condition with space for vehicles and storage, without paying for land they cannot use. The primary risk is the 46% site coverage , it limits future extension or subdivision potential, which narrows the buyer pool to owner-occupiers rather than developers. That constraint is already priced into the vendor’s indicated range of $560,000–$575,000, roughly 10% above the 2023 sale but still below the agent’s current $595,000 ask. The opportunity is negotiating within that band, knowing the property has sat only six days and the vendor’s own statement caps upside. Hold this as a long-term family home; the yield at $495 per week rent covers holding costs but does not justify an investment purchase at current pricing