20 Parkville Street, Burnley VIC 3121
20 Parkville Street, Burnley VIC 3121
2 bed 2 bath study | 165m² compact house | heritage overlay | strong inner-east demand
This is a genuinely well-configured inner-suburban house, one that balances modern liveability with the kind of compact footprint that defines Burnley’s best streets. The second bathroom and dedicated study push it well beyond the typical two-bedroom terrace, making it a practical fit for professionals, couples, or downsizers who want real functionality without the upkeep of a larger property. Its position within a heritage overlay adds character and streetscape certainty, which tends to hold value steadily in this pocket. The 118m² internal layout is efficient rather than sprawling, and the off-street parking is a meaningful advantage in an area where that is often sacrificed. This house suits buyers who prioritise location, low-maintenance living, and a strong sense of neighbourhood over land area.
The compact land size and heritage protections may limit future expansion, so the value here rests largely on the quality of the existing interior and how well it meets current buyer expectations. The 2/2/1 configuration is a strong match for the market, but the absence of a clearly stated outdoor space or courtyard orientation could matter to some buyers. Rental demand in the area is healthy, which may support an investor buyer, though the price point suggests owner-occupiers will likely drive the final figure. The heritage overlay may also affect how much a buyer can alter the property over time, so those planning renovations should weigh that carefully.
|| Comparable Sales: 23 Parkville St sold at $1.885M for a larger 4-bed house | 18 Parkville St guided $1.9M–$2.09M for a 3-bed | Property Price Band: $1.2M–$1.3M | Value Drivers: second bathroom, study, heritage character, off-street parking
Detailed Independent Property Report prepared by PropCred Analyst team for 20 Parkville Street, Burnley VIC 3121
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Burnley, four kilometres from the CBD and bounded by the Yarra, is a leafy riverside enclave mixing period homes, townhouses and modern apartments. Demand is led by higher-income young professionals and families seeking green space and direct city links, drawn to Burnley Gardens and river trails. House prices sit between $1.32 million and $1.425 million, yet annual capital growth has contracted 11.3 percent, with 13 sales over the year and a median 39 days on market. Units are steadier: a $635,000 median, off just 0.4 percent, with recent sales ranging from $282,000 to $435,000. Gross rental yield is 4.7 percent and weekly median rent is $500, while one-bedrooms command $450 versus a $475 metro benchmark. Inventory is exceptionally thin—three properties for sale and three for rent—which maintains competition. The core constraints remain affordability and rate sensitivity, reinforced by negative house price momentum in the past year.
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PropCred Estimated Value
Comparable Sales: 23 Parkville St sold at $1.885M for a larger 4-bed house | 18 Parkville St guided $1.9M–$2.09M for a 3-bed | Property Price Band: $1.2M–$1.3M | Value Drivers: second bathroom, study, heritage character, off-street parking
Bedrooms
2
Bathroom
2
Parking
1
Land
165m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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