29 Omar Street, Caulfield South VIC 3162
29 Omar Street, Caulfield South VIC 3162
Single-level late-70s brick family house | approx 748sqm land | flexible 5th bedroom or office | strong school catchment and redevelopment potential
This house offers a rare combination in Caulfield South: a large, single-level solid-brick family home on a substantial block, with a layout that genuinely works for daily living. The cathedral ceilings and exposed brick give it a character that newer builds often lack, while the flexible third living area adds real practicality, whether as a home office, playroom, or fifth bedroom. Its position within the Caulfield South Primary and Glen Eira College catchments makes it particularly appealing to established families, and the west-facing entertaining area with established greenery provides a private, usable outdoor space. For buyers seeking a solid, move-in-ready family home with the option to renovate or redevelop later, this property sits comfortably in the larger family-home segment of the suburb, offering more land and single-level convenience than most nearby townhouse or unit stock.
The property’s value may be influenced by its age and original condition, meaning buyers might factor in costs for updating kitchens, bathrooms, or flooring over time. The STCA potential on a 748sqm block could attract interest from renovators or rebuilders, which may support price competition, but it also means the final price could reflect land value more than the house itself. The double carport and split-system heating and cooling are functional but not premium, so presentation and any pre-sale improvements could affect how strongly buyers respond. The west-facing rear yard is pleasant but may require consideration for afternoon sun and privacy, and while the street is predominantly houses, some infill townhouses exist nearby, which might temper expectations for absolute exclusivity.
|| Comparable Sales: 35 Omar Street sold for $3.945M in Nov 2024; 1/16 Omar Street listed around $1.3M–$1.4M | Property Price Band: $1.7M–$1.9M | Value Drivers: land size, single-level layout, school catchment, redevelopment potential
Detailed Independent Property Report prepared by PropCred Analyst team for 29 Omar Street, Caulfield South VIC 3162
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Caulfield South is an established inner suburb, dominated by Australian-born professionals aged 40-49 with degrees and high household incomes, plus a strong Jewish community. Demand comes from affluent families and owner-occupiers; 48% of owners have mortgages, so rate sensitivity is a risk. House prices are elevated but mixed: the latest median is $1.87m with 8.6% annual growth, though another series shows $1.8m and a 5.6% quarterly fall; values range from $1.72m to $2.035m. Units are stronger, at $919,000 with 13.6% growth, or $830,000 in a secondary measure. Houses average 37-53 days on market, with 155 sales, up 7.6%. Weekly rents are $950 for houses and $685 for units; gross yields around 3.2% for houses and 4.3% for units. Future growth is supported by professional-family demand, but affordability and mortgage leverage are key constraints.
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PropCred Estimated Value
Comparable Sales: 35 Omar Street sold for $3.945M in Nov 2024; 1/16 Omar Street listed around $1.3M–$1.4M | Property Price Band: $1.7M–$1.9M | Value Drivers: land size, single-level layout, school catchment, redevelopment potential
Bedrooms
4
Bathroom
2
Parking
2
Land
748m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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