1/1 Mackie Road, Bentleigh East VIC 3165

Flood overlay | 11-year-old unit | 75m² on a 1566m² lot | yield-driven buy This unit sits on a very large landholding, but the flood overlay directly limits capital growth and insurability—expect higher premiums or difficulty securing cover, which quietly erodes long-term value. The strong rental yield, above 4.5%, makes it a functional holding for cash flow, but the price ceiling is capped by recent comparable sales around $395k to $470k in the same complex, meaning the current asking range risks being overpriced for the risk. Unless you negotiate toward the lower end of that range or plan to hold purely for income, this property is a pass for capital appreciation. Your buying case rests on the rare combination of a secure garage, low-maintenance floorboards, and modern inclusions in a tight complex with good school zoning. That mix serves a first-home buyer wanting a turnkey lock-and-leave or an investor prioritising vacancy-resistant yield in a consistently liquid market. The true edge here is the 75m² internal space—larger than most units in this bracket—which should sustain tenant demand and gentle rent growth. Before you proceed, commission a flood risk report and confirm insurance terms for this specific lot; that single step will tell you whether the price or the premium breaks the deal.