138 Queensville Street, Kingsville VIC 3012

3-bed house on 276m² lot | Heritage & flood overlays present | Zoned for Footscray High | High confidence rental estimate. This property presents a competitively strong landholding in a tightly held pocket, underscored by its substantial 276-square-metre lot with 51% building coverage, which is rare for a three-bedroom house in this area. The combination of zoning for Footscray High School and the presence of both heritage and flood overlays creates a specific market position: it appeals directly to families seeking long-term security in the catchment, but requires a buyer prepared to navigate constrained renovation or development pathways. The reliable fibre internet and 5G coverage are operational conveniences that support modern work-from-home needs, while the estimated rental income demonstrates established tenant demand, making it equally viable for an owner-occupier or an investor seeking a stable yield. The primary decision hinges on accepting the cost and limitations imposed by the dual overlays; the heritage controls will increase the complexity and expense of any significant alteration, while the flood overlay necessitates specific insurance considerations and potential future capital outlays. The commercial logic lies in the scarcity of similarly sized lots in the school zone, offering a land bank that may appreciate based on location alone, irrespective of the dwelling’s condition. Given the high-confidence valuation metrics clustering above the current asking price, the judgment is to acquire with a plan to hold for the long term, using the existing rental income to offset holding costs while the land component accrues value, rather than pursuing immediate redevelopment.