103/575 North Road, Ormond VIC 3204
103/575 North Road, Ormond VIC 3204
1930-built house | 2-bed 2-bath | McKinnon Primary & Glen Eira College zones | North Road corridor with redevelopment pressure
This is a rare older house on a main-road corridor where most stock has been replaced by apartments and mixed-use buildings. The 1930 build gives it period character that newer units simply lack, and the school zoning adds a practical layer of buyer demand that goes beyond the immediate streetscape. It suits a downsizer, young couple, or small family who wants a compact, low-maintenance footprint without sacrificing access to transport, shops, and good schools. The two-bathroom layout is a genuine advantage for a two-bedroom house, as it adds everyday convenience and resale appeal in a market where single-bathroom older homes often feel dated.
The main-road position is the most material factor. Exposure to North Road traffic and noise may temper price growth compared to a quiet side-street house, though it also supports strong rental demand and future redevelopment potential given the corridor’s mixed-use zoning activity. The land size needs verification from title records, as the listing figure appears inconsistent. The 2-bed configuration may limit appeal to larger families, but it aligns well with the area’s apartment-heavy buyer pool. The absence of detected overlays reduces planning risk, while the 1930 build may require updates to heating, cooling, or electrical systems depending on prior renovations.
Detailed Independent Property Report prepared by PropCred Analyst team for 103/575 North Road, Ormond VIC 3204
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Ormond, an inner-south Melbourne suburb, is positioned for owner-occupier families, driven by strong school catchments and Ormond Station access. House median at $1.855m, flat annually (YIP 0.82%; Jellis Craig 0.0%), though one source shows $1.9m up 5.8%. Units at $715k rose 13.49%, with yields 4.27% vs 2.56% for houses, drawing investors. Market conditions vary: days on house range 25–63, annual sales volume 47–73, and REIV shows a 25% quarterly house fall. Demand is supported by employment proximity and lifestyle amenity. Future growth rests on infrastructure, but high entry prices, rate sensitivity, and supply tightness are constraints.
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PropCred Estimated Value
Comparable Sales: 106/575 North Road sold $555,000; 102/575 North Road sold $370,000 in 2016 | Property Price Band: $800K–$900K | Value Drivers: land size verification, renovation condition, main-road exposure
Bedrooms
2
Bathroom
2
Parking
1
Land
961m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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