2/222 Keilor Road, Essendon North VIC 3041
2/222 Keilor Road, Essendon North VIC 3041
2-bed, 2-bath flat | 98m² modern apartment | Owner-occupier building | Keilor Road convenience | Strong rental yield
This unit holds a genuine edge over much of Essendon North’s older apartment stock. The second bathroom is a rare find along this corridor, where most comparable flats stop at one. The mid-2010s build, secure parking, and balcony give it a contemporary, low-maintenance feel that suits downsizers and professional couples wanting to stay close to trams, shops, and schools without the upkeep of a house. The building’s owner-occupier skew, with an average tenure near five years, points to a stable, well-cared-for environment rather than a transient investor block. It sits comfortably above the suburb’s basic two-bedroom norm, offering a lifestyle-oriented package that should hold appeal for both live-in buyers and renters.
The price band will likely be shaped by how the unit’s internal condition and aspect compare to others in the same complex, as those details are not fully confirmed. The 98m² footprint is generous for a flat, which may support a premium, but the lack of a standout view or confirmed upper-level position could temper that. The estimated rent of $540 per week suggests a yield near 5.3%, which is solid for the area and may attract investors, though owner-occupiers might value the extra bathroom and modern layout more. Keilor Road’s traffic and commercial strip activity is a trade-off worth weighing against the convenience it delivers.
|| Comparable Sales: 1/222 Keilor Rd sold for $535,000 in Oct 2024; 6/220–222 Keilor Rd listed near $545,000 | Property Price Band: $500,000–$600,000 | Value Drivers: second bathroom, modern build quality, secure parking and balcony
Detailed Independent Property Report prepared by PropCred Analyst team for 2/222 Keilor Road, Essendon North VIC 3041
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
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Market Insight
Essendon North, 9km northwest of the CBD, is a compact, unit-heavy market (69% units) driven by thirty-something professionals on upper-middle incomes. Demand centres on proximity to parks, shops and the CBD, supporting small households in units. House prices are soft: medians span $965k–$1.4m, with most annual measures negative (down 8.1%, 7.5%, 6.99%, 5.5%); one series records +3.44%. Units are firmer: $400k–$425k, up 0.5%–6.9% annually; REIV’s $613k quarterly median moved 61.2%, likely compositional. Days on market range 31–51; house sales are thin, 30–39 in 12 months. Gross yields vary by source: 5.1% for units, 6.4% REIV, 2.01% Jellis Craig. Constraint: low house turnover and declining house values; unit demand and small-household structure provide a counterweight.
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PropCred Estimated Value
Comparable Sales: 1/222 Keilor Rd sold for $535,000 in Oct 2024; 6/220–222 Keilor Rd listed near $545,000 | Property Price Band: $500,000–$600,000 | Value Drivers: second bathroom, modern build quality, secure parking and balcony
Bedrooms
2
Bathroom
2
Parking
1
Land
702m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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