22 Bowman Street, Warrnambool VIC 3280

Modern three-bedroom | Riverside estate positioning | Bushfire overlay present | Strong rental demand | Council-approved residential site This property occupies a genuinely uncommon position within the Oakwood Riverside estate: a completed house on a titled lot with direct Merri River proximity, river and rural outlooks, and zoning for both Warrnambool West Primary and Brauer Secondary College. The 195m² built form with 38% site coverage leaves useful outdoor space, and the two-car garage plus FTTP connectivity add practical liveability. For a buyer seeking a low-maintenance house in a growing coastal city with established school catchments and a rental yield of $635 per week, this property offers a clear income-producing alternative to comparably priced three-bedroom houses in the broader Warrnambool market. The absence of flood or heritage overlays simplifies due diligence. The bushfire overlay is the primary risk: it will raise insurance premiums and may impose BAL construction requirements for any future extensions, though the existing house should already comply. The lot size discrepancy (514m² vs 558m²) warrants a title survey before exchange. The listing price sits below the estimated value range, which suggests either motivated selling or condition unknowns , a building and pest inspection is non-negotiable. For an investor, the rental yield supports holding; for an owner-occupier, the location and school access justify immediate purchase. Hold for capital growth tied to Warrnambool’s ongoing residential demand, or rent immediately to capture the $635 weekly return.