13 Binalong Road, Mornington TAS 7018

Established 1969 build on 642sqm | Tasmanian oak floors throughout | 6x7m workshop with off-street parking | Mornington’s 95% owner-occupied street The property’s competitive edge lies in its rare combination of a generous 642sqm lot with a large workshop and gated parking, paired with Tasmanian oak floors and a secure private courtyard. This configuration suits buyers seeking a well-maintained mid-century house with immediate functional space for a boat or trades vehicle, in a street where 95% of residents are long-term owners. The reverse-cycle heat pump and FTTP connectivity add practical comfort, while the General Residential zoning leaves scope for future subdivision or extension, making it a strong entry point for a buyer who values land-to-building ratio over cosmetic finish. The primary risk is the 2015 last sale date and lack of recent renovation, meaning latent maintenance costs may surface within two to three years. Council and water rates total $3,246 annually, which is moderate for the lot size but should be factored into holding costs. The rental yield of roughly 4.2% offers a fallback if plans change, and the Mornington median sale price of $650k suggests the asking price sits near the top of the market. Hold this property as a long-term land bank or upgrade incrementally, and it will likely outperform the suburb average.