2 Irvine Street, Mount Evelyn VIC 3796
2 Irvine Street, Mount Evelyn VIC 3796
3-bed family house | 1,477m² rare block | low-density Mount Evelyn | quick buyer turnover | public school zone
A genuinely uncommon landholding is offered by this detached house, with a 1,477 m² block that is well above typical suburban house lots. Its configuration of three bedrooms, two bathrooms, and two car spaces is straightforward and functional, and it is suited to families or owner-occupiers looking for room to spread out. Mount Evelyn is known for its larger-lot, low-density character, and this property is positioned comfortably within that profile while retaining a clean, no-fuss layout. The house is best suited to buyers wanting space without the maintenance burden of an oversized yard, though the land itself is a meaningful advantage. Reasonably brisk absorption is indicated by local market conditions, and a standard public school catchment is attached to the property, adding to its practical appeal.
The main factors that might affect value are the broader bushfire risk in the locality, the condition and presentation of the house itself, and the lack of verified internal specification. A nearby property is subject to a bushfire overlay, and insurance costs and buyer perception may be influenced by this, though this has not been confirmed for the subject parcel. The price guides from different portals vary by about $50,000, so the eventual sale price may be determined by how the property presents at inspection and how strongly the land advantage is weighed against any perceived location risk. Renovation history and building age are unverified, so the physical state of the house should be carefully assessed before a bid is formed.
Detailed Independent Property Report prepared by PropCred Analyst team for 2 Irvine Street, Mount Evelyn VIC 3796
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Mount Evelyn VIC 3796 sits as a family-oriented residential market, with couples with children forming 53% of households and a notable 27% aged over 55. Demand is driven by owner-occupier purchasers, who account for 55% of the area, skewed toward technicians, trades, and professional workers. House price data shows a median range of $847,000–$900,000, with annual growth reported between 1.1% and 6.9% depending on source. Liquidity is moderate: annual sales volume ranges from 101 to 147 houses, and median days on market spans 14–39, reflecting variable turnover. Rental yields for houses sit at 3.4%–3.9%, with weekly rents from $560 to $618. The unit market is thin, with a $720,000 median but very low sales volumes. Future growth rests on continued family demand and constrained unit supply, though rate sensitivity and uneven auction clearance—reported between 37.5% and 78.5%—remain key risks.
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PropCred Estimated Value
Comparable Sales: 29 Bailey Road, Mount Evelyn sold $339,000 in 2005 | Property Price Band: $800K–$900K | Value Drivers: land size, presentation, bushfire risk
Bedrooms
3
Bathroom
2
Parking
2
Land
1477m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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