11 Rheola Street, Eynesbury VIC 3338
11 Rheola Street, Eynesbury VIC 3338
4 bed family house | 420sqm lot | balcony suggests double storey | 2021 bought for $296k now around $620k
This is a straightforward family home in a newer estate, built to suit buyers wanting four bedrooms and two bathrooms without paying for excess land. The 420 square metre block is practical rather than generous, and the 163 square metre floor plan suggests efficient use of space rather than oversized rooms. The balcony is worth noting because it hints at a two-storey layout, which often appeals to families who want separation between living and sleeping areas. The 2021 purchase price of $296,000 and current indicators around $620,000 show genuine capital growth, though this reflects broader market movement rather than anything exceptional about the house itself. This property suits owner-occupiers who value a modern layout and manageable upkeep, or investors looking for a solid rental yield given the $470 per week achieved in late 2025.
The long marketing period before the last lease suggests the rental market for this configuration may be price sensitive, which could affect resale if demand softens. The implied gross yield of around four percent is reasonable for a house in this price bracket but not outstanding, so buyers should check whether local rental demand has strengthened since October 2025. Without confirmed build year or construction quality details, the property’s age and condition remain unknowns that could influence future maintenance costs. The lack of nearby comparable sales in the available data means price expectations should be tested against recent settled transactions in the immediate street rather than suburb-wide figures.
Detailed Independent Property Report prepared by PropCred Analyst team for 11 Rheola Street, Eynesbury VIC 3338
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Eynesbury is a family-oriented suburb with a high rate of home ownership, positioned as an affordable entry point within commuting distance of Melbourne. Demand is driven by young families seeking home ownership, supported by household incomes well above the metropolitan average. The market has recently experienced a softening in house prices, with properties taking a moderate time to sell. Future growth is underpinned by this demographic foundation, though sensitivity to mortgage rates is a noted consideration given the high proportion of owners with loans.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
420m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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