22 Carnarvon Avenue, The Basin VIC 3154

3 bed on 1012m² lot | single bathroom vs suburb norm | Dandenong Ranges backdrop | investor or family project | tranquil near Boronia This property presents a distinct configuration play within its suburb, trading multiple modern bathrooms for a significantly larger than median land parcel in a tightly held locale. Its competitive strength lies in the 1012 square metre block, offering immediate family space with vast gardens and multiple sheds, while presenting a clear renovation or extension pathway to capitalise on the three-bedroom footprint. The house serves a buyer seeking entry into The Basin’s larger-lot market, with its polished floors, ducted heating, and modern Bosch kitchen representing a liveable base. It is positioned for families attracted to the primary school catchment and the scenic tranquillity, or for investors noting the proven rental demand and the suburb’s balanced age demographics which suggest stable tenancy. The decision hinges on accepting the cost of the single bathroom against typical suburb stock, a functional deficit that pressures resale appeal to the mainstream family market and caps short-term capital growth. The opportunity requires a commercial commitment to either hold as a long-term land bank, benefiting from the lack of overlays and the area’s gentrification, or to invest in a second bathroom to realign the property with local expectations. Given the estimated value slightly below the listed range and the older build, the judgment is to acquire only at the lower spectrum of the price guide, treating the premium for the land as the core holding value while budgeting for the necessary modernisation to unlock its full equity potential. Nearby property sales indicate a strong land-value precedent: 17 Carnarvon Avenue (5 bed, 2 bath, 1076m²) estimated at $1,003,000 and 19 Carnarvon Avenue (3 bed, 2 bath, 1049m²) at $985,000. This context confirms that larger blocks in this street command premiums, but also underscores that this subject property’s lack of a second bathroom and older build materially offsets its land value advantage. For a buyer, this validates that any purchase price must reflect a significant discount to these comparable figures to account for the capital expenditure required to bring it in line with neighbourhood standards.