319 Cranbourne Road, Frankston VIC 3199

Renovated 625m² block near Ballam Park | Versatile four-bedroom or three-plus-study layout | Strong rental yield above 3.6% | Frankston median price support with growth runway The property’s primary buying case rests on its renovated condition on a full 625m² block in a suburb where median house prices sit at $819k, placing the guide below that benchmark with room for capital alignment. The adaptable layout,three bedrooms plus a substantial multi-purpose room,gives it an edge over standard four-bedroom offerings, serving families needing a home office, investors targeting the broad rental pool near schools and the train line, and buyers seeking a single-level hold with low immediate maintenance. The rental estimate of $570+ per week supports a 3.64% yield, above typical house returns in the corridor, and the absence of flood, bushfire, or heritage constraints removes common due diligence delays. The key risk is the main road position on Cranbourne Road, which may narrow the buyer pool and temper future growth relative to quieter streets, though the renovated interior and generous block partially offset this. The 2020 rental history at $400 per week shows rental growth of 42% over six years, indicating strong income trajectory, and the 2015 purchase price of $331,000 suggests substantial equity build that may limit seller urgency. For the buyer, the opportunity is to acquire a freshly updated house below the suburb median with immediate rental income or owner-occupier comfort; hold for five to seven years to capture land-value appreciation as Frankston continues its coastal and commuter demand uplift.