1/16 Patrick Street, Box Hill North VIC 3129
1/16 Patrick Street, Box Hill North VIC 3129
4-bed townhouse | 431–438 m² land | school-zoned | family-oriented street | no heritage overlay
This townhouse carries an uncommon combination for the area: four bedrooms on a land component that often belongs to detached houses rather than attached dwellings. That extra ground around the building gives it a practical edge for families who want space without the maintenance of a full house. The Kerrimuir Primary and Box Hill High zoning strengthens its appeal to buyers with school-age children, and the residential street context suggests a stable, neighbourly environment rather than a transient rental strip. It serves best as a long-term family home for buyers who value proximity to Box Hill’s amenities but prefer a quieter pocket with a more generous footprint than typical units.
The property’s value may hinge on how the internal condition and layout compare with the larger land size, since the listing data does not clarify whether the interior matches the potential of the site. The inconsistent property-type label between townhouse and unit could affect buyer perception and financing options, so a clear inspection of the title and strata arrangements may be worthwhile. The 1993 sale date hints at an older build, which might mean original finishes that could either reduce upfront cost or require budgeting for updates. Buyers should weigh the land advantage against likely renovation needs when forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/16 Patrick Street, Box Hill North VIC 3129
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Box Hill North, in Melbourne’s middle eastern suburbs, holds a median house price of roughly $1.35–1.4 million, with annual growth spanning 1.9–5.7% across sources. Units show tighter supply and stronger momentum, with medians from $725,000 to $938,000 and growth up to 15.8%, pointing to investor and renter demand for attached stock. Houses sell in 26–48 days, and annual sales volume of 128–154 properties confirms consistent turnover. Families and owner-occupiers dominate qualitatively, though exact splits are unquantified. Convenient location and infrastructure access underpin buyer appeal, while gross rental yields remain low for houses at about 2.5%, but firmer for units at 3.8–3.9%, reinforcing investor focus on units. Future growth rests on steady demand and limited land, but affordability is the key constraint: house prices near $1.4 million with modest yields may dampen further capital gains if rates or supply conditions shift.
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PropCred Estimated Value
Comparable Sales: 12 Patrick Street sold 05 Jul 2025; 15 Patrick Street auction Feb 2025 | Property Price Band: $1.1M–$1.2M | Value Drivers: land size, school zoning, four-bedroom layout
Bedrooms
3
Bathroom
1
Parking
1
Land
431m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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