2/47 Mary Street, Richmond VIC 3121
2/47 Mary Street, Richmond VIC 3121
3 bed, 2 bath, 2 car townhouse on 106m², built 1997. Master with ensuite and private balcony, secure parking, gas cooktop and dishwasher. Light-filled interiors within a heritage façade enclave. This is a well-configured inner-suburb townhouse with above-average parking and bedroom count for Richmond, where 2-bed, 1-car stock is more common. Its position behind a heritage frontage offers character without sacrificing modern finishes, and the 1997 build places it in a solid mid-period bracket that avoids both the compromises of older conversions and the premium of new developments.
What is competitively strong here is the three-bedroom, two-bathroom layout with two secure car spaces—rare in Richmond’s tight streets. The private balcony off the master and the light-filled orientation (likely north or north-east) add genuine livability that smaller or darker units lack. This property serves best a young professional couple or small family who want CBD proximity, heritage character, and a secure low-maintenance townhouse without a garden to manage. It sits comfortably above typical Richmond townhouse stock in spec, which supports both owner-occupier appeal and strong rental demand from tenants seeking space and parking.
The 106m² land size is small even by Richmond standards, and the absence of a usable garden may limit appeal for families wanting outdoor space. The heritage façade, while attractive, can restrict future alterations or extensions. Noise from nearby streets is a possibility given the inner-city location, though the secure enclave design may mitigate this. The 1997 build means systems like plumbing and roofing are approaching 30 years old, so maintenance costs may arise sooner than for newer stock. These factors should be weighed when forming a view on price, but they do not undermine the property’s core strengths.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/47 Mary Street, Richmond VIC 3121
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Richmond is a suburb undergoing significant urban renewal, attracting a young professional demographic with its high-density living and major infrastructure projects. Demand is driven by childless couples and professionals, creating a robust market where units are transacting faster than houses. Recent price trends show stability in houses but stronger momentum in the unit sector. Future growth is anchored by substantial public transport upgrades and precinct revitalisations, though the market’s sensitivity to mortgage costs remains a consideration given the high proportion of indebted owners.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
106m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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