107 Main Road, Paynesville VIC 3880
107 Main Road, Paynesville VIC 3880
3-bed, 2-bath, 3-car house | 970 m² in coastal Paynesville | Built 1985, solid family footprint | Strong rental yield, moderate price point | Large block, balcony, air conditioning
This house offers a genuinely competitive configuration for Paynesville—three bedrooms, two bathrooms, and three parking spaces on a substantial 970 m² block is uncommon in this coastal township, where much of the stock leans toward smaller homes or townhouses. The 1985 build provides a solid, established structure, and the balcony adds a practical lifestyle feature that suits the coastal setting. With air conditioning included, the property is move-in ready for a family or a downsizer seeking space without sacrificing comfort. It serves best as a long-term family home or a reliable investment, given the moderate yield it generates and the steady rental demand for larger houses in the area.
Value may be shaped by the balance between its generous land size and the age of the build, which could require updating in kitchens or bathrooms over time. The large block offers potential for future extension or landscaping, though any changes would depend on local zoning rules that are not yet confirmed. The property’s price point sits comfortably for buyers seeking a spacious coastal home, but its appeal might be tempered by the regional location, where resale depends on a narrower buyer pool than metropolitan markets. Weigh the strong land offering against the need for any modernisation when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 107 Main Road, Paynesville VIC 3880
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Paynesville, a coastal eastern Victorian suburb on the Gippsland Lakes, is drawing mid-range family buyers seeking waterfront or near-water homes, with boating infrastructure a clear anchor. House prices sit around $527,500, up 7.65% annually, though other data show flatter or negative readings, and quarterly movement of +4.5% signals volatility. Units lag: median $385,000, down 6.1%, and take about 93 days to sell, pointing to oversupply. Houses move faster, 66–99 days depending on size, with 122 sales in the past year. Rental demand supports investors: house rents average $500 a week, units $400, with gross yields of 4.5% and 5.5% respectively. Prices remain below the state median, but underperform the regional average, and the unit market’s weakness warrants attention given rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 4 Main Road, 3-bed, 2-bath, 3-car, sold $470k | 48 Main Road, 2-bed, 1-bath, 1-car, leased $440/week | Property Price Band: $500k–$600k | Value Drivers: Land size, parking provision, build condition, balcony outlook
Bedrooms
3
Bathroom
2
Parking
3
Land
970m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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