1/3 Morton Street, Essendon VIC 3040
1/3 Morton Street, Essendon VIC 3040
A three-bedroom house on a lot of approximately 290 square metres with one bathroom and a private position in a quiet Essendon pocket. The property is estimated to yield around four per cent annual return with weekly rent of approximately $1,100. Location is residential and privately positioned.
Competitive strength is found in its private positioning within a well-regarded Essendon pocket, where established houses on similar lot sizes are sought after. The property offers genuine scope for personalisation while remaining a solid residential dwelling, making it best suited to buyers who value character and location over modern finishes. Its four per cent yield signals steady rental demand without being exceptional, confirming it as a reasonable choice for investors or families prioritising a quiet street within a popular suburb.
Factors that might materially affect the value include the single bathroom configuration, which may limit appeal compared to two-bathroom alternatives. The lack of specific detail on finishes and building age means the property’s condition and any recent updates could influence the final price significantly. A buyer should therefore weigh potential renovation cost against the price guide when forming their view.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/3 Morton Street, Essendon VIC 3040
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
1
URL has been copied successfully!
Market Insight
Essendon is an established, well-connected suburb appealing to those seeking proximity to the city. Demand is driven by its strong transport links and expanding local precincts, attracting both owner-occupiers and a significant rental population. Recent market conditions show divergent price signals, with house values experiencing pressure while the unit market demonstrates stronger rental demand and yields. Future growth is anchored by its enduring appeal and infrastructure, though affordability constraints and inconsistent capital growth present notable risks.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
289m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!