2/40 Elizabeth Street, Coburg VIC 3058
2/40 Elizabeth Street, Coburg VIC 3058
2-bed 2-bath edge over typical Coburg units | ground-level courtyard living | freshly painted throughout | internal-access garage | inner-north transport hub
This unit holds a genuine competitive edge in Coburg’s townhouse market because most comparable two-bedroom stock in the area stops at one bathroom. Having two bathrooms plus a private rear courtyard and an undercover patio makes it feel closer to a low-maintenance house than a standard unit, which broadens its appeal considerably. The internal-access garage adds everyday convenience that renters and owner-occupiers both value, and the fresh paint throughout means the property is move-in ready without any immediate spend. It suits first-home buyers wanting a solid entry into the inner north, young professionals prioritising transport access, and downsizers seeking single-level practicality without sacrificing outdoor space. The location near Coburg Lake, Merri Creek trails, and the train and tram network anchors demand across multiple buyer groups.
The pricing context here is shaped by how the second bathroom and courtyard differentiate this unit from plainer two-bedroom townhouses nearby. Properties with similar configuration but only one bathroom may trade lower, while those with better outdoor proportions or quieter positioning might command a premium. The absence of confirmed land size means the courtyard’s usable area is a key unknown that could influence perceived value. Buyers should weigh whether the fresh presentation offsets any potential compromises in layout or natural light, and consider how the ground-level format compares against upstairs units in the same corridor. The guide sits at a level where motivated first-home buyers and investors are both active, so competitive bidding is plausible if the property presents well on inspection day.
|| Comparable Sales: 4/40 Elizabeth Street, Coburg – 2 bed 1 bath townhouse, sold in similar range; 121 Elizabeth Street, Coburg North – 2 bed 1 bath house on 387m², under offer near $700k | Property Price Band: $620,000–$720,000 | Value Drivers: second bathroom, fresh interior condition, courtyard and garage layout
Detailed Independent Property Report prepared by PropCred Analyst team for 2/40 Elizabeth Street, Coburg VIC 3058
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Coburg is a well-established, gentrifying inner-northern suburb with strong appeal for young families and professionals, driven by its proximity to the CBD and vibrant local amenity. Demand is robust, supported by consistent sales activity and positive price growth across the housing market. Future prospects are underpinned by ongoing gentrification and transport links, though increasing medium-density supply and high house prices present affordability and market sensitivity considerations.
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PropCred Estimated Value
Comparable Sales: 4/40 Elizabeth Street, Coburg – 2 bed 1 bath townhouse, sold in similar range; 121 Elizabeth Street, Coburg North – 2 bed 1 bath house on 387m², under offer near $700k | Property Price Band: $620,000–$720,000 | Value Drivers: second bathroom, fresh interior condition, courtyard and garage layout
Bedrooms
2
Bathroom
2
Parking
1
Land
821m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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