4/45 King Street, Bayswater VIC 3153
4/45 King Street, Bayswater VIC 3153
2 bed 1 bath townhouse | park-facing with trail access | built 2008, low maintenance | strong rental demand | single carport only
This townhouse holds a genuine edge in Bayswater because it combines a modern 2008 build with direct parkland outlooks, which is rare for this price point. The double-storey layout, two balconies, and private courtyard give it a lifestyle feel that most older townhouses in the area simply lack, and the study nook plus European laundry add practical everyday function. It suits first-home buyers, young couples, or downsizers who want lock-and-leave living without sacrificing outdoor space, and the walk-to-station convenience makes it equally attractive to renters, keeping demand steady across buyer types.
The single carport is the most obvious constraint, and it may limit appeal for households with two cars or tradies needing secure parking. The 140 m² footprint is efficient but not generous, so buyers expecting sprawling living areas might find it compact. The park-facing position could also mean more foot traffic from trail users, though this is unlikely to be a real issue given the courtyard layout. The 2008 build means finishes are dated but functional, and any renovation would be cosmetic rather than structural, which may factor into how much you are willing to pay relative to newer stock.
|| Comparable Sales: similar 2 bed townhouses on King Street sold around $565k–$620k | Property Price Band: $550k–$650k | Value Drivers: park outlook, modern build, walkability to station and shops
Detailed Independent Property Report prepared by PropCred Analyst team for 4/45 King Street, Bayswater VIC 3153
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Bayswater, 29km east of Melbourne, is an established residential and light-industrial suburb. Demand centres on 30-39 year olds with upper-middle incomes. Houses lead the market: median $928,000, 7.1% annual growth, and sales roughly 26 days on market — 21% faster than nearby Wantirna South. Units lag, with a $567,500 median and a -3.9% quarterly dip. Rents are firm: houses $600 weekly, units $510, with house yields of 3.5-4.2%. The key risk is unit softness; house growth has momentum but rate sensitivity could test affordability.
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PropCred Estimated Value
Comparable Sales: similar 2 bed townhouses on King Street sold around $565k–$620k | Property Price Band: $550k–$650k | Value Drivers: park outlook, modern build, walkability to station and shops
Bedrooms
2
Bathroom
1
Parking
1
Land
140m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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