49 Falcon Drive, Melton VIC 3337
49 Falcon Drive, Melton VIC 3337
Single-storey 3-bed on 585m² | older established build with timber floors | central Melton pocket near shops and schools | periodic tenancy at $330/week signals investor interest | scope for renovation upside
The property holds its appeal through a straightforward, functional layout that suits first-home buyers and investors alike. Its position on a standard 585m² block within an established residential street offers genuine backyard space, which is increasingly valued in this part of Melton. The timber flooring and split-system air conditioning provide a liveable base, while the modest kitchen and single bathroom leave room for a buyer to add value over time. This is not a polished product, but its central location near Scott Street shops, schools, and the town centre makes it a practical entry point for those wanting to establish themselves in a mature suburb without paying a premium for presentation.
The main factors that might shape your view on price relate to condition and potential rather than location. The house appears to retain much of its original character, so any renovation work would need to be factored into your budget and timeline. The car accommodation is unclear from available information, which could matter if you require off-street parking for more than one vehicle. The large backyard offers scope for future improvements, subject to council approval, but that potential is not yet realised. Rental demand in the area appears steady, with similar older houses leasing in the mid-to-high $300s per week, so the current tenancy at $330 may sit slightly below what the property could achieve with modest updates.
|| Comparable Sales: 10 Falcon Drive sold $585,000; 44 Falcon Drive sold $500,000 | Property Price Band: $500,000–$600,000 | Value Drivers: land size, original condition, central location
Detailed Independent Property Report prepared by PropCred Analyst team for 49 Falcon Drive, Melton VIC 3337
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Melton, 37km west of Melbourne’s CBD, is an established yet growing regional centre with a sub-$600k median house price. House medians range from $521k to $556k across sources, with annual growth of 11.7% to 13.5%. Units are softer: $380k to $410k, with growth of 0.9% to 7.9%. Houses sell in 22 to 76 days; a 100% clearance rate points to strong absorption. Weekly rents are $410 for houses and $390 for units, yielding 4.0% to 5.3%, attracting investors. Around 200 house sales annually shows steady turnover. The growing community and existing schools and shopping underpin future demand. The key constraint is data variance: price and growth figures differ materially across sources, while unit growth trails houses.
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PropCred Estimated Value
Comparable Sales: 10 Falcon Drive sold $585,000; 44 Falcon Drive sold $500,000 | Property Price Band: $500,000–$600,000 | Value Drivers: land size, original condition, central location
Bedrooms
3
Bathroom
1
Parking
-
Land
585m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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