3/2 Bungo Street, Eden NSW 2551
3/2 Bungo Street, Eden NSW 2551
Older low-rise unit | 2023 sale at $395k | Beach-close coastal pocket | Small complex, mid-century build | Buyer demand from holiday and rental use
This unit sits within a small, older complex on Bungo Street, a quiet coastal pocket near Aslings Beach and the beachfront boardwalk. The building stock here is mid-century, low-rise, and oriented to sun, breeze, and water proximity—features that consistently drive demand in Eden’s lifestyle market. For a downsizer, holiday buyer, or investor seeking low-maintenance coastal property, this offers a straightforward entry point into a beach-adjacent setting without the upkeep of a larger house. The 2023 sale at $395,000 reflects a realistic price point for this configuration, and the street’s mix of similar units and larger homes gives it a stable, established neighbourhood character.
The property’s value may be shaped by its age and condition, as mid-century units often require attention to kitchens, bathrooms, and insulation. A bushfire overlay exists on nearby parcels, which could affect insurance costs or future renovation scope. The lack of confirmed parking, floor level, or internal finishes means the purchase price should account for potential upgrades. Rental yield in the suburb sits around 4.1%, and the unit’s suitability for holiday or permanent letting could support income, but actual returns depend on presentation and fit-out. Buyers should weigh the older build against the coastal lifestyle advantage when forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/2 Bungo Street, Eden NSW 2551
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Eden, on the Princes Highway, is a small coastal town of 3,350 where single-person households are high at 34% and household size is low, shaping modest buyer depth. Demand is investor-led, driven by unit yields of 5.03% against houses at 4.44%, while the median unit price rose 14.92% to $520,000. House conditions are softer: medians span $680,000–$760,000 with annual declines of 6.3–9.3%, though a mid-2025 reading recorded 5.19% growth. Turnover remains thin at roughly 57–89 house sales a year, and stock lingers—183 days for a 3-bedroom house and 292 for a 4-bedroom. Rental supply is near empty with three properties available, and highway access supports tourism-related demand. Risk centres on rate sensitivity among the 30% of mortgaged owners and extended selling times that could deepen price falls.
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PropCred Estimated Value
Comparable Sales: 2/2 Bungo St sold $455k (Jun 2025); 37 Bungo St valued near $564k | Property Price Band: $380k–$450k | Value Drivers: condition, outdoor space, parking, coastal orientation
Bedrooms
2
Bathroom
1
Parking
1
Land
955m²
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