1/38 Cameron Way, Pakenham VIC 3810
1/38 Cameron Way, Pakenham VIC 3810
1989 brick villa unit | 3/1/1 compact layout | central Pakenham walkability | low-maintenance small lot | strong rental yield
A genuinely rare combination is offered by this 1989-built villa in Pakenham’s established core: a low-maintenance three-bedroom footprint on a small lot, steps from the train station, Main Street, and school catchments. The compact design is prioritised by downsizers, first-home buyers, and investors seeking reliable rental yield, with location and convenience favoured over land size. The single garage and straightforward layout are valued for minimal upkeep, which is a meaningful advantage for those wanting a lock-and-leave property in a well-connected suburb.
Value may be affected by the 1989 finishes, which might seem dated. The single bathroom and garage are likely to be seen as limiting for families, while the small lot is offset by low-maintenance ease. Confidence is provided by the absence of overlays and clear residential zoning, though future growth may rest on suburb demand.
>> Comparable Sales: 60 Cameron Way (2022), 2/38 Cameron Way | Property Price Band: $500k–$600k | Value Drivers: location walkability, compact low-maintenance layout, rental demand
Detailed Independent Property Report prepared by PropCred Analyst team for 1/38 Cameron Way, Pakenham VIC 3810
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
2
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Market Insight
Pakenham, in Melbourne’s outer south-east, is a family-driven growth corridor. House medians sit around $700,000, with annual growth of 6.1–8.0%; units range $515,000–$547,500, growing up to 10% annually. Family demand is explicit: four-bedroom houses command $750,000–$959,000, and sales volumes of 1,039–1,239 a year with median days on market of 15–16 signal competitive conditions. Rental yields are modest-houses 4.08%, units 4.6–5.0%-but weekly rents hold at $550–$560 for houses and $470–$500 for units, keeping investor interest. Regional rail and road links to Melbourne plus infrastructure works support future growth. Constraints: affordability is stretched near $700,000, supply is moderate (64 listings), and growth is interest-rate sensitive.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
410m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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