10 Sunset Close, Korumburra VIC 3950
10 Sunset Close, Korumburra VIC 3950
Compact family house | 3-bed, 2-bath, 2-car | 423m² lot with 254m² build | Built for low-maintenance living | Regional town convenience
This property holds a genuine edge for Korumburra: a near-new format on a compact, fully fenced block with a substantial building footprint relative to land. The layout—three bedrooms, ensuite, two toilets, and a remote garage—suits families or downsizers wanting single-level practicality without upkeep. Being on residential land with no overlay constraints and FTTC NBN, it functions as a straightforward, low-friction purchase. Its strongest appeal is to owner-occupiers seeking a modern, secure, and efficient house in a town with schools and highway access, though the rental estimate also makes it credible for investors chasing steady regional demand.
The value picture may hinge on how the 60% building coverage and 254m² footprint feel on the ground—tight outdoor space could limit appeal for those wanting a large yard, while the modern fitout and double parking offset that. The build year is unconfirmed, so condition and any deferred maintenance should be inspected closely. The property’s position above the suburb’s typical price point means buyers might negotiate on the strength of comparable finishes, but the feature set and no-overlay status provide reasonable justification. The absence of flood or bushfire overlays adds peace of mind, while the compact land size may cap long-term land-value growth compared to larger allotments.
Detailed Independent Property Report prepared by PropCred Analyst team for 10 Sunset Close, Korumburra VIC 3950
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
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Market Insight
Median house price in this suburb is $540,000, with a 5% year-on-year decline and a 1.7% quarterly fall, though a compound annual measure of 6.3% points to longer-run gains. Units sit at $420,000 and have dropped 4.6–6.1% over the past year. Houses take 71–91 days to sell, and annual turnover is a thin 80–126 sales. Rental yields are healthy: 4.15–4.55% on houses and 5.1% on units, with median weekly rents of $535 and $400 respectively. The mixed signals—short-term price softening against solid compound growth—framed by an absence of vacancy, demographic and infrastructure data, make forward-looking demand hard to assess. The key risk is continued price erosion and low liquidity.
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PropCred Estimated Value
Comparable Sales: 8 Karmai Court sold near $595,000; 21 Victoria Street smaller block, price unavailable | Property Price Band: $550,000–$650,000 | Value Drivers: Modern condition, compact land with substantial build, school zoning and no overlay constraints.
Bedrooms
3
Bathroom
2
Parking
2
Land
432m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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