141 Wallace Street, Bairnsdale VIC 3875
141 Wallace Street, Bairnsdale VIC 3875
Established Bairnsdale house | 3-bed layout on a large block | family-oriented street | renovation scope evident | steady rental demand
This property is situated within Bairnsdale’s established residential core, where solid older houses on generous blocks remain the dominant housing type. The three-bedroom, one-bathroom configuration is well suited to first-home buyers and small families, offering a practical floor plan that requires minimal adaptation for comfortable occupation. The large block is used for outdoor space and future extension opportunities, while the street is recognised for its proximity to schools, sporting grounds, and the town centre. For an investor, the property is presented as a straightforward rental proposition with consistent tenant demand, supported by the broader market’s preference for well-located, low-maintenance houses. Its strength is found in being an uncomplicated, serviceable home in a location that appeals to a broad cross-section of buyers, making it a reliable rather than exceptional purchase.
The eventual sale price may be shaped by the property’s condition relative to improved stock in the suburb. If the interior has been updated recently, the value might align with the upper end of the local range; if it remains in original condition, the price may reflect a renovator’s discount. Land size and street aspect may also influence buyer perception, as larger blocks tend to attract families prepared to pay more. Buyers should weigh the cost of any deferred maintenance against the property’s fundamental strengths, and consider that well-presented homes in this area typically command stronger interest than those requiring visible work.
Detailed Independent Property Report prepared by PropCred Analyst team for 141 Wallace Street, Bairnsdale VIC 3875
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Bairnsdale is a regional Victorian centre, with demand skewed to older owner-occupiers: 39% of residents are over 55, 37% own outright and 42% are childless couples. House medians are $450,000–$479,000, with annual growth of 3.9%–6.37% by source, though REIV records a 2.1% quarterly fall. Units sit at $341,000–$350,000, with flat-to-negative annual movement. Houses trade in 64–115 days; annual volumes are 156–215. Rents are $470 weekly for houses and $370 for units, yielding 5.1%–5.5% gross for houses and 6.1%–6.3% for units. Key constraints are soft unit growth and the quarterly house correction.
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PropCred Estimated Value
Comparable Sales: similar 3-bedroom houses on Wallace Street have sold in the low $400,000s | Property Price Band: $450,000 to $550,000 | Value Drivers: condition, land size, street position
Bedrooms
5
Bathroom
2
Parking
4
Land
2309m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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