105/277 Point Nepean Road, Dromana VIC 3936
105/277 Point Nepean Road, Dromana VIC 3936
2-bed unit | sold $800k June 2024 | coastal strip setting | mixed-use precinct | value tied to complex
This unit sits within a coastal main-road complex where demand is driven by walkability to the beach, shops, and services. At 2 bedrooms, 1 bathroom, and 1 car space, it suits downsizers, investors, or holiday buyers seeking low-maintenance living in an established mixed-use location. The immediate precinct is undergoing intensification, with a proposed four-storey redevelopment nearby, which signals ongoing interest in higher-density coastal living. Its compact configuration and commercial-zone setting make it a practical entry point into Dromana’s apartment market rather than a family home.
Value may be shaped by the wide price spread seen within the same complex, where similar-sized units have transacted at notably different levels. Position within the building, views, floor level, and internal condition likely influence how this unit compares to others. The commercial strip character and main-road exposure might temper appeal for some buyers, while proximity to amenities and rental demand could support interest. A buyer should weigh the unit’s specific attributes against the range of recent transactions in the complex when forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 105/277 Point Nepean Road, Dromana VIC 3936
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Dromana sits 85km south of Melbourne as a coastal suburb anchored by bay beaches and wineries. Demand is concentrated among older buyers: median age is 50, the 60-69 cohort is largest, and outright ownership at 49% points to equity-rich, low-leverage purchasers rather than first-timers. House prices are broadly flat; recent medians range from $950,000 to $1,020,000, with one series showing -0.78% annual growth. Units span $730,000 to $900,000. Listings take 44-60 days to sell, and gross yields are 3.1-4.1%, with weekly rents near $580. Sales volume is moderate at 125-173 houses annually. The coastal and wine-country setting remains the core draw, but price sensitivity is a constraint, given yields are modest relative to entry prices and growth has stalled.
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PropCred Estimated Value
Comparable Sales: 106/277 Point Nepean Rd sold $1.1M; 205/277 Point Nepean Rd sold $1.95M | Property Price Band: $700K–$900K | Value Drivers: floor level, views, internal condition, complex position
Bedrooms
2
Bathroom
2
Parking
1
Land
2233m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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