1/35 Folkestone Road, Glen Waverley VIC 3150

| Brand new townhouse | Glen Waverley zone | Low-maintenance edge | 275sqm freehold | No heritage overlay | This property occupies a rare position as a brand new freestanding townhouse within Glen Waverley’s secondary college catchment, where stock is typically older or attached. The 275sqm landholding, though modest, is freehold and carries no bushfire, flood, or heritage overlays, giving a buyer clean title and minimal holding risk. The single-level layout and low-maintenance courtyard serve downsizers or professionals who want the school zone without the upkeep of a larger block. With 70% owner-occupancy on the street and a 68% auction clearance rate in the area, the demand profile is stable and skewed toward end-users rather than investors, which supports resale liquidity. The key risk is price. The asking range sits above the estimated value of $1,291,000, and the property was only listed two days ago, meaning the seller has not yet tested genuine market depth. There is no current rental listing, so an investor would need to underwrite a yield below the previous $850pw rent, which at the low end of the range yields roughly 3.4%,tight for the corridor. The opportunity lies in negotiating toward the estimate, using the short days on market and the absence of competing offers. Hold this property for the school zone and low-maintenance appeal; it is a positional hold rather than a value-add play.