1/3-5 Short Street, Merimbula NSW 2548
1/3-5 Short Street, Merimbula NSW 2548
2-bed single-level unit | built 1995 in small complex | walkable to town and lakefront boardwalk | light-filled with water outlook | 1-car parking
This unit is defined by its practical single-level layout, which is seen as a genuine advantage for downsizers and those avoiding stairs. Its placement within a small complex keeps maintenance modest, and the light-filled interior with water views adds everyday appeal. Built in 1995 and set back from the street, it is positioned a short stroll from Merimbula’s town centre and lakefront boardwalk. Two bedrooms, one bathroom and one car space are offered in a straightforward configuration, suiting owner-occupiers and investors after a low-effort coastal holding. Walkability and simple upkeep are considered its strongest features, rarely found together at this price level.
The building’s age and modest finishes may warrant updating, and the lack of resort amenities might limit holiday appeal. Market conditions for Merimbula units appear softer, with longer selling periods likely. Aspect and outlook may influence value, though water views and the flat format might offset that. Buyers should weigh refurbishment costs against the convenience of coastal walkability.
>> Comparable Sales: 3/3-5 Short Street sold $640,000; 2/3-5 Short Street sold $450,000 in Sept 2023 | Property Price Band: $600,000–$700,000 | Value Drivers: single-level layout, walkable location, light-filled interior
Detailed Independent Property Report prepared by PropCred Analyst team for 1/3-5 Short Street, Merimbula NSW 2548
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Merimbula, on the Sapphire Coast, is a dual residential-holiday market with a clear price split: houses hold medians from $823,000 to $952,500 depending on source, while units, at 39.8% of stock, sit near $495,000–$550,000. Turnover is thin-47 to 61 house sales annually-and recent growth readings vary widely, from 0.85% to 6.9% for houses and -8.33% to +7.2% for units. Houses average 91–94 days on market, with gross yields of 3.3–3.96%; units yield 4.7–4.98%. Demand is driven by first home buyers, downsizers and investors, aided by a median house price below the NSW average of $1,211,507, plus lifestyle and tourism appeal. The market is nonetheless assessed as overvalued above long-term trend, leaving prices sensitive to interest rates, economic conditions and local development outcomes.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
1370m²
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