1/17 Ruby Street, Balwyn VIC 3103

2-bed villa, Balwyn High zone | leased to Aug 2027 | north-facing courtyard | single-level contemporary finish This property’s primary buying case is its position within the Balwyn High School zone combined with a single-level contemporary layout—rare in this price bracket. The northern rear aspect and covered courtyard give it a private, low-maintenance outdoor space that appeals directly to downsizers and professional couples. The existing lease at $675/week, stepping to $725/week in August 2026, provides immediate income certainty for an investor, while the recent refurbishment with oak flooring and built-in robes means no immediate capital outlay. For a family buyer, the school zoning and proximity to Belmore Road shops and parklands offer long-term lifestyle utility that supports resale demand. The main risk is the shared strata arrangement on a 270m² unit, which limits future renovation scope and may deter owner-occupiers seeking standalone title. The rental yield around 3.3% is modest for Melbourne metro, though the 8.3% suburb growth offsets this for capital-focused buyers. The lease until 2027 locks in below-market rent initially, so an owner-occupier would need to wait or negotiate a vacant possession. The property suits a patient investor or a family planning ahead for school entry; hold for the lease term then reassess for owner-occupation or sale into the school-driven market