1/36 Cadby Avenue, Ormond VIC 3204
1/36 Cadby Avenue, Ormond VIC 3204
1920s house on 697m² | GRZ1 redevelopment opportunity | McKinnon Secondary zone | strong family demand
This is a rare configuration for Ormond: a period home on a substantial 697m² lot within the McKinnon Secondary College zone, positioned in a street that has transitioned into premium townhouse infill. The land represents the core strength here, offering either a substantial family home with renovation upside or a potential multi-dwelling redevelopment site under GRZ1 zoning. It serves families prioritising school catchment who want space, as well as buyers seeking a long-term landholding in an established Glen Eira pocket. The 1920s fabric suggests character and solid bones, but likely requires modernisation to compete with the newer townhouse stock nearby.
The property’s value may be shaped by how the market weighs its redevelopment potential against its current condition as a period home. A buyer intending to renovate should factor in the age of the building envelope, while a developer would assess subdivision feasibility within GRZ1 constraints. The absence of heritage overlays in available data strengthens its flexibility, but the lack of confirmed internal specifications means condition should be verified on inspection. Demand from school-zone families and the scarcity of large allotments in this locality may support price resilience, though the outcome will depend on how the property is presented relative to its newer neighbours.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/36 Cadby Avenue, Ormond VIC 3204
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
2
Income Risk
Execution Risk
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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: 3/36 Cadby Avenue townhouse sold at $1.25M–$1.35M range; 4/36 Cadby Avenue townhouse at $1.77M–$2.09M | Property Price Band: $1.7M–$1.8M | Value Drivers: land size, GRZ1 zoning flexibility, school catchment positioning
Bedrooms
3
Bathroom
3
Parking
2
Land
697m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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