11/5 Phillip Street, Mentone VIC 3194
11/5 Phillip Street, Mentone VIC 3194
1-bedroom layout in a 2-bedroom shell | light-filled open-plan on level 1 | walk to Mentone station and shops | suited to first-home buyers or downsizers
The property’s primary buying case is its configuration as a two-bedroom unit on a single level with natural light and a functional open-plan layout, which is competitively rare in Mentone’s apartment stock for buyers seeking a low-maintenance foothold without sacrificing space. Its proximity to the train station and shopping precinct reduces car dependency, a feature that holds value for owner-occupiers and investors alike. The absence of bushfire, flood, or heritage overlays simplifies due diligence. This unit serves best as a first home or a downsizer’s lock-and-leave, where the rental yield potential supports holding costs.
The key risk is the 2010 sale date, which may indicate limited capital growth in the intervening period, and the estimated value range of $585,000–$610,000 sits near recent sale evidence, offering little immediate arbitrage. The 1.19-acre note in the data is likely an error and should be disregarded. Opportunity lies in the short market time of five days, suggesting motivated sellers, and the previous lease history confirms rental demand. Hold this property as a long-term residence or a steady rental, not for short-term flipping.
Detailed Independent Property Report prepared by PropCred Analyst team for 11/5 Phillip Street, Mentone VIC 3194
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Mentone is a well-established bayside suburb positioned for lifestyle and family appeal, with strong transport links and quality schools. Demand is driven predominantly by owner-occupying professionals and families, attracted by its coastal proximity and established amenity. Recent market conditions show varied price momentum across property types, with a discernible sensitivity to interest rate changes affecting auction performance. Future growth is underpinned by its enduring desirability and rental demand, though key constraints include high entry prices impacting affordability and variable sales volumes reflecting broader market caution.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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