2/24 Kelsby Street, Reservoir VIC 3073
2/24 Kelsby Street, Reservoir VIC 3073
2-bed townhouse | 126m² lot | alarm fitted | no overlays | Reservoir Primary zone
This townhouse sits in a practical, well-connected pocket of Reservoir where low-maintenance medium-density housing is in steady demand. Its compact 126m² footprint is efficient rather than generous, and the two-bedroom, one-bathroom configuration suits first-home buyers, downsizers, or investors targeting reliable rental interest. The alarm system adds a layer of security that appeals to owner-occupiers, while the absence of bushfire, flood, or heritage overlays simplifies due diligence and future planning. Proximity to Edwardes Lake, the station, and the local retail strip strengthens everyday liveability, making this property a sensible entry point into a suburb with ongoing infill appeal.
Value may hinge on the internal condition and layout, as older townhouse stock in this area can vary noticeably in finish quality and natural light. The 126m² lot is typical for the pocket, so presentation and any recent updates will likely carry more weight than land size. Rental potential around $475 per week suggests reasonable investor demand, but the absence of premium fixtures or a standout orientation could cap upside compared to newer developments nearby. Buyers should weigh the trade-off between affordability and the need for possible refurbishment when forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/24 Kelsby Street, Reservoir VIC 3073
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Reservoir, a middle-ring Melbourne suburb, pairs a 63% house, 37% unit mix with solid transport links via Mernda and Hurstbridge line stations and ring road access. Demand is led by families and investors, the latter drawn to gross yields of 3.24% for houses and 4.36% for units, alongside strong rental growth: house rents up 5.5% and unit rents 4.8% over the past year. Median house prices are $950,000, with annual growth ranging from 2.1% to 6.7% depending on the measure, while unit medians are $659,000 with growth of 1.7% to 5.86%. Houses transact in 46–51 days, implying moderate supply pressure. Sales volume of 541 houses over 12 months confirms active turnover. Future growth is supported by infrastructure proximity and rental demand; key risks are investor yield sensitivity and inconsistent capital growth across data sets.
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PropCred Estimated Value
Comparable Sales: 2-bed unit on Kelsby Street sold around $520k; 2-bed villa on Best Street sold between $640k–$680k | Property Price Band: $500k–$600k | Value Drivers: condition, layout efficiency, proximity to station and lake
Bedrooms
2
Bathroom
1
Parking
1
Land
126m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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