3/11 Mckenzie Street, Melton VIC 3337
3/11 Mckenzie Street, Melton VIC 3337
Compact 298m² | refreshed 3-bed | detached studio | 2-car secure | first-home/investor fit
Presented as a fully refreshed, move-in-ready house on a compact 298m² allotment, this property is finished with new flooring, an updated kitchen, and modern appliances, so little immediate work is required. Heating and cooling are fitted, and the secure double carport is a practical everyday addition. The detached studio is the standout feature, providing a credible home-office or creative space without taking up living area. In an established street, this house is distinguished by condition and flexibility rather than land size. It is suited to first-home buyers, downsizers valuing low maintenance, and investors wanting a tidy rental.
The property’s value may be shaped by its compact land size, which limits major extensions. Its attached-style configuration could be seen as a limitation, though the refreshed condition is expected to support price. The studio could be used by home workers, and investors may be drawn to rental demand. Buyers should weigh immediate condition against site constraints.
>> Comparable Sales: refreshed 3-bed house on 298m² sold $530,000; similar 3-bed unit with carport sold $515,000 | Property Price Band: $500,000-$600,000 | Value Drivers: condition, studio versatility, secure parking
Detailed Independent Property Report prepared by PropCred Analyst team for 3/11 Mckenzie Street, Melton VIC 3337
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Melton, 37km west of Melbourne’s CBD, is an established yet growing regional centre with a sub-$600k median house price. House medians range from $521k to $556k across sources, with annual growth of 11.7% to 13.5%. Units are softer: $380k to $410k, with growth of 0.9% to 7.9%. Houses sell in 22 to 76 days; a 100% clearance rate points to strong absorption. Weekly rents are $410 for houses and $390 for units, yielding 4.0% to 5.3%, attracting investors. Around 200 house sales annually shows steady turnover. The growing community and existing schools and shopping underpin future demand. The key constraint is data variance: price and growth figures differ materially across sources, while unit growth trails houses.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
-
Land
298m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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