123 Dundas Street, Rye VIC 3941

1980 build | 850m² lot | Bushfire overlay | 3 bed, 1 bath | Primary school catchment This house presents a standard configuration for Rye, but its lot size remains a fixed competitive advantage in a suburb where land is the primary store of value. The property serves a buyer seeking a long-term hold, with its established location within the Rye Primary School catchment providing a stable demand base for either a family occupant or a future resale. The 1980 construction suggests functional, older finishes, positioning it as an entry point or a renovation prospect rather than a premium offering. The bushfire overlay is a material risk, imposing potential future compliance costs and insurance complexities. The single bathroom limits rental appeal and resale velocity against modern stock. Given the substantial price growth since its last sale, the current price guide demands scrutiny against recent, true comparable sales in the $800k-$900k range. Acquire this for land value and location, with a view to capitalise on the lot size over time; it is not a high-yield rental proposition.