1-2 Monroe Court, Narre Warren North VIC 3804
1-2 Monroe Court, Narre Warren North VIC 3804
The property is defined by a 4,037 square metre block, placing it firmly within the acreage segment of Narre Warren North. That land size is paired with a four-bedroom, two-bathroom layout, giving a rare balance of family space and outdoor room. The location is prized by buyers seeking a semi-rural feel while staying close to schools, shopping, and the freeway. It is best suited to families and upgraders who want long-term occupancy and value privacy, landscaping scope, and a low-density streetscape. The house is not oversized for the land, which may be seen as an advantage by those wanting room to extend or add shedding. In a suburb where many homes are built on smaller allotments, this property is distinguished by its land mass and lifestyle positioning.
Value may be influenced by the bushfire overlay indicated for the pocket, which can affect insurance costs and lending appetite. The size and condition of the dwelling relative to the land will also be weighed; if the house is modest compared with new builds, much of the price may be attached to land value and potential for renovation or subdivision. Large-block maintenance should be factored in, including landscaping, fencing, and driveway upkeep. Demand for acreage-style properties can be thinner than for standard homes, so marketing time may be extended and the final price may be determined by a buyer who specifically values this setting.
Detailed Independent Property Report prepared by PropCred Analyst team for 1-2 Monroe Court, Narre Warren North VIC 3804
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Narre Warren North, 36 km southeast of Melbourne, is a premium house market with median prices ranging from $1.37m to $1.70m across sources, though most quote around $1.5m. The market is correcting: annual growth is -3.5% to -8.2%, and houses sit on the market for 38 to 51 days, with annual sales volume of 56 to 82. Low gross rental yields — 2.78% to 3.46% for houses and 3.21% for units — point to a predominantly owner-occupier buyer base rather than investors. Weekly house rents of $845 to $895 provide modest returns. No unit price, vacancy, or demographic data is available. The key constraint is affordability: at these price levels, buyers are rate-sensitive, and the current negative growth suggests any further rate pressure would extend the correction.
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PropCred Estimated Value
Comparable Sales: 9-10 Monroe Court sold $1.2M; 10 Monroe Court sold $1.2M in Jan 2023 | Property Price Band: $2.1M–$2.2M | Value Drivers: land area, dwelling condition, lifestyle positioning
Bedrooms
4
Bathroom
2
Parking
2
Land
4037m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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