22 Fraser Street, Melton South VIC 3338

22 Fraser Street, Melton South VIC 3338
4 bed 2 bath family house | 586m² with renovation upside | no overlay risk | strong local rental demand | zoned Coburn Primary and Staughton College This house stands out in Melton South for its rare combination of size and flexibility. Four bedrooms, two living areas, a study, and a rumpus room give it genuine multi-generational or work-from-home capacity, which is uncommon in a pocket where much of the recent stock has been compact infill units. The 586m² fully fenced block, outdoor entertaining area, and secure parking make it a practical family holding, while the 1978 construction and floorboards offer a blank canvas for a buyer wanting to add value through cosmetic updates rather than structural work. It is best suited to a family seeking space on a budget, or an investor targeting steady rental demand from tenants who want room without leaving the suburb’s transport and shopping corridor. The price record for this house shows inconsistency between sources, with one showing a December 2025 sale at $520,000 and another at $531,000, so the buyer should verify the actual transaction figure before forming a view. The property’s older condition may require immediate attention to kitchen, bathroom, or heating systems, which could add cost beyond the purchase price. Its larger land size and higher bedroom count may appeal to renovators or developers looking at reconfiguration potential, but any such opportunity would depend on council regulations and the absence of overlays, which is confirmed for bushfire, flood, and heritage. Rental yield in the area sits around 4.5%, and nearby leases have achieved $370 per week for smaller houses, so this property’s additional space may command a slight premium, though tenant demand for older homes with higher upkeep should be weighed carefully.
Detailed Independent Property Report prepared  by PropCred Analyst team for 22 Fraser Street, Melton South VIC 3338
Checks found:
Value Risk
Liquidity Risk
Planning Risk ! 1
Income Risk
Execution Risk ! 1
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Market Insight

Melton South presents as an affordable entry point with a market characterised by robust sales activity and strong rental demand, particularly from local income earners. This demand is driving notable rental growth and relatively swift sales, especially for units. While recent house price growth has moderated compared to broader Melbourne, the market conditions remain active. Future performance may be constrained by its historical underperformance relative to the metropolitan average and local income levels.
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PropCred Estimated Value

Comparable Sales: 1 Fraser Street sold $550,000 (649m², 3 bed) | Property Price Band: $500,000–$600,000 | Value Drivers: land size, bedroom count, renovation potential, no overlay constraints

Bedrooms

4

Bathroom

2

Parking

2

Land

586m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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