48 Ireland Avenue, Narre Warren VIC 3805
48 Ireland Avenue, Narre Warren VIC 3805
Detached single-storey house | 650 to 760 sqm block | cosmetic renovation scope | family demand near Fountain Gate | bushfire overlay may apply
This property is situated within an established pocket of Narre Warren where detached older houses on generous allotments are the dominant form. A likely configuration of three to four bedrooms, one to two bathrooms and a sizable flat block is offered, giving a practical family layout that is becoming harder to find in newer subdivisions. The street’s presentation profile is characterised by older housing with light cosmetic upgrades, so genuine scope to add value through kitchen, bathroom and landscaping improvements is available without the price tag of a renovated showpiece. The property is best suited to first-home buyers wanting a foothold in a family suburb, downsizers seeking single-level living with yard space, or investors drawn to detached housing with steady rental demand. Its appeal as a durable family-grade property is reinforced by the established character, proximity to major retail and the M1 corridor, and the absence of high-density development in the immediate pocket.
The value of this property may be influenced by the extent of updating already completed, as comparable stock in the street shows a mix of original features and partial renovation. The condition of the roof, electrical and plumbing systems might require attention given the likely older build age, and capital expenditure should be weighed when forming a price view. Overlay status on lots in this street can vary, so bushfire risk may apply to this specific title and could affect insurance costs. Land dimensions and side access are also expected to be meaningful value factors, with larger usable blocks typically attracting stronger interest from families and investors.
>> Comparable Sales: 1 Landor Court, Narre Warren sold for $840,000 in September 2025 | Property Price Band: $700,000-$800,000 | Value Drivers: land size, renovation condition, layout practicality
Detailed Independent Property Report prepared by PropCred Analyst team for 48 Ireland Avenue, Narre Warren VIC 3805
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Narre Warren, 38km southeast of Melbourne, is a key residential and commercial hub in the City of Casey. Demand is driven by families, professionals, and investors, supported by excellent schools, strong transport links, Westfield Fountain Gate, and the Casey ARC leisure centre. These anchors provide a durable demand base. House prices sit around $800,000 with annual growth between 6.67% and 7.9%, while units range from $600,000 to $622,000, with one series showing 15.2% growth. The market is tight: houses sell in 14-15 days, with annual sales volume near 438. Gross rental yields are modest at roughly 3.8% for houses and 4.5-4.8% for units, with weekly rents of $570-580 and $490-540 respectively. Demand remains robust, though yield compression signals pricing has outpaced rental growth.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
651m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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