157 Milleara Road, Keilor East VIC 3033

Post-war solidity on 548sqm | school zone positioning | 34% site coverage signals reno or extension room | 2-car capacity in family belt This property offers a rare combination of post-war build quality and genuine expansion potential on a flat 548sqm lot, where only 34% site coverage means the new owner can reconfigure the floorplan or add a second living zone without rezoning risk. The Moonee Valley school catchment and absence of flood or heritage overlays reduce friction for families who need certainty in zoning and insurance. For a buyer targeting the $680k-$720k bracket, the wide frontage and 5m roof height provide a structural edge over neighbouring weatherboard stock, making this a candidate for value-add renovation rather than knockdown. The main risk is the single bathroom, which will limit appeal to downsizers and may require a second bathroom addition to unlock full resale premium. Rental yield at 3.8% is modest but stable given the school zone demand, and the 2013 last sale date suggests low holding cost basis for the vendor, not a distressed exit. The opportunity lies in executing a targeted bathroom or kitchen update within 18 months, then holding for the next school cycle wave. Use this as a long-term family hold with optionality to subdivide or extend when the market lifts.