11 Botanical Drive, Lara VIC 3212

Listing price above median | rental yield below 4% | 41 day average selling time | clearance rate just 29% | buyer caution advised The asking range sits above the area median by roughly $100,000, which puts you at risk of paying a premium for a property that has only been on market for nine days. With a clearance rate barely touching 29% and houses taking over a month to sell, the sellers may be testing a price that local buyers haven’t yet accepted. If you are considering a long term hold the rental income at $620 per week only covers about 3.7% of the upper asking price, meaning this house will rely on capital growth rather than cash flow to deliver returns. On balance, treat this as a property for owner occupiers willing to negotiate, not for passive investors. What makes this house competitive is its size at 297 square meters on a 512 square meter block, offering generous space for a family without the maintenance of a larger lot. The fibre to the premises connection and strong mobile coverage add practical value for remote work, while the absence of bushfire or flood overlays reduces insurance and risk concerns. This property serves best for a family seeking room to grow in a school catchment area, particulary those who prioritise functional living space over a quick resale. To move ahead, request a formal building and pest inspection before the open inspections to gauge if the solar panels and fixtures support the price tag or need replacement. Three recent nearby 4 bedroom sales closed between $715,000 and $790,000, all within two kilometers. This suggests the asking range sits at a 10-12% premium over recent market evidence.