121 Dundas Street, Rye VIC 3941

Rye cottage | 932m² land | 16% site coverage | bushfire overlay | primary school walkable The unusually low building coverage on this substantial 932m² block creates a rare opportunity to reconfigure or extend without losing the existing cottage character. With floorboards, an open plan living zone, and five car spaces, the property already suits a buyer wanting immediate occupancy plus future development optionality. The Mornington Peninsula council area and proximity to Rye Primary School and Rosebud Secondary College give it a stable family demand profile. This is best suited to a buyer looking for land leverage in a coastal corridor where subdivision potential—subject to council approval—adds long-term value beyond the current house. The bushfire overlay introduces compliance costs and limits some site uses; buyers should budget for vegetation management and potential construction upgrades if extending. No flood or heritage overlay simplifies approvals. The 2018 sale date suggests limited recent market testing, so due diligence on local comparables is essential. With NBN FTTP and 5G coverage supporting remote work, the property can be held as a balanced weekender or rental while the land appreciates—hold for land banking rather than immediate capital gain.