15 Francis Street, Horsham VIC 3400

Large block near centre | older home with yield upside | school catchment included | no overlay constraints The buying case here rests on the land-to-improvement ratio. A 1,012 m² block in a regional centre with no bushfire, flood, or heritage overlays is a structural advantage that few comparables offer at this price point. The existing weatherboard house is modest but functional, with gas heating and evaporative cooling, meaning a buyer can occupy immediately while the land does the heavy lifting on long-term value. This property suits a first-home buyer wanting to enter the market with a low holding cost, or an investor seeking a gross rental yield approaching 8% at the current asking price. The school catchment for Horsham College and Horsham Primary School adds practical appeal for family buyers, and the street profile shows a mix of owner-occupiers and renters, which supports stable demand. The primary risk is the dwelling’s age and condition. Built around 1930, the house may require near-term maintenance on roofing, plumbing, or electrical, and the single bathroom limits appeal for some owner-occupiers. The asking price sits above the automated valuation estimate, so a buyer should verify condition via inspection and negotiate from a position of knowledge. The opportunity is in the land: with council approval, the block could support subdivision, a second dwelling, or a significant extension. The 2021 sale at $140,000 shows the price has risen sharply, but the land value alone in this location likely supports further modest appreciation. Hold this property for its land content and rental income, not for the house.