1/157 Brighton Road, Elwood VIC 3184
1/157 Brighton Road, Elwood VIC 3184
2 bed, 1 bath, 1 car | established Elwood apartment stock | flood overlay noted | rent estimate near $595/week
This unit sits in a well-established Elwood pocket where older low-rise blocks dominate and the street mix is genuinely varied. The configuration is standard for the area, but the off-street parking and balcony access found in many comparable units give it a practical edge over walk-up stock without car space. It suits a first-home buyer wanting a solid foothold in an inner-bay suburb, or an investor after steady rental demand near trams, villages, and the waterfront. The building form is likely older brick, which means character and space, though internal finish quality is unconfirmed and may vary unit to unit.
The flood overlay and Special Building Overlay are the main constraints to weigh, as they can affect insurance costs and future renovation scope. Older construction may also mean maintenance obligations down the track, particularly around windows, roofing, and common areas. The reported rent estimate sits above some nearby leasing evidence, so achievable income might be slightly lower depending on condition and floor level. Road frontage could introduce noise, though this depends on the unit’s position within the block. These factors may shape buyer interest more than the apartment’s core layout.
|| Comparable Sales: 10/197 Brighton Road sold $446,000 in Apr 2025; 1/197 Brighton Road sold $407,099 in Jan 2021 | Property Price Band: $500,000–$600,000 | Value Drivers: condition and renovation level, parking configuration, flood overlay exposure
Detailed Independent Property Report prepared by PropCred Analyst team for 1/157 Brighton Road, Elwood VIC 3184
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
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Market Insight
Elwood is a bayside suburb on Port Phillip Bay, with tram/train links along Glen Huntly and Ormond Roads to the CBD and esplanade cycling paths. Demand is driven by families, singles, owner-occupiers and renters; professionals and downsizers are active in 3–4 bedroom houses ($1.99m–$3.02m) and 1–3 bedroom units. House prices are mixed: medians span $1.951m–$2.265m, annual growth from -7.3% to +3.4%, quarterly -2.3%. Units range $626k–$650k, with 12-month declines up to 5.1%. Houses sell in 33–50 days; auction clearance is 58.4%–70.2%, with 117–156 house and 375–457 unit sales annually. Rental demand is firm: house rents rose 10%, unit yields hit 4.6%. Future growth rests on connectivity, beachfront amenity and turnover. Key constraints: affordability (houses roughly double the $974k metro median), price volatility, and a 36.8% increase in house sales signalling supply response.
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PropCred Estimated Value
Comparable Sales: 10/197 Brighton Road sold $446,000 in Apr 2025; 1/197 Brighton Road sold $407,099 in Jan 2021 | Property Price Band: $500,000–$600,000 | Value Drivers: condition and renovation level, parking configuration, flood overlay exposure
Bedrooms
2
Bathroom
1
Parking
1
Land
1160m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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