24 May Street, Deepdene VIC 3103
24 May Street, Deepdene VIC 3103
A 3-bedroom, 1-bathroom Californian Bungalow on a 718m² lot with a 211m² floorplan. Parking for 3 cars. Single-storey original condition. Zoned NRZ3 with no overlays. Positioned in a tightly held Boroondara pocket within the Balwyn High school zone.
A generous 718m² lot is offered here, a increasingly rare find in this tightly held part of Boroondara. The original Californian Bungalow, with its 211m² floorplan and 3-bedroom configuration, is presented with both immediate period living and significant upside through renovation or redevelopment under NRZ3 zoning. The property is situated within the Balwyn High school zone, a major draw for families. This combination of land size, school access, and lack of overlays is considered particularly compelling for developers who prioritise land bank, or for renovators seeking to restore a classic home in a prestigious location. The single-storey layout and 3-car parking are added as practical advantages.
The original condition may be considered a constraint by buyers seeking modern finishes, as renovation costs could be substantial. However, the land-to-building ratio might be seen as an opportunity for development, which may support a higher price point. The property’s placement in a prestigious street within a top school zone should maintain strong interest, but the single bathroom might limit family appeal without upgrade.
Detailed Independent Property Report prepared by PropCred Analyst team for 24 May Street, Deepdene VIC 3103
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
Execution Risk
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Market Insight
Deepdene is a prestigious, family-oriented enclave prized for its tranquil, tree-lined streets and large homes. Demand is driven by affluent owner-occupiers seeking a premium lifestyle close to the city and quality schools. The market has softened, with house prices experiencing a notable correction, reflecting broader affordability pressures and rate sensitivity. Future appeal is anchored in its enduring prestige and location, though high entry costs and a cooling market present near-term constraints.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
718m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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