157 Milleara Road, Keilor East VIC 3033
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.
Detailed Independent Property Report prepared by PropCred Analyst team for 157 Milleara Road, Keilor East VIC 3033
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Keilor East is a well-established, family-oriented suburb offering spacious homes and large parks, appealing to professionals seeking a settled lifestyle. Demand is driven by this demographic, supporting a stable but varied housing market where recent price trends have been mixed, with houses showing modest resilience compared to units. Future growth is anchored in its established appeal and good schools, though the market’s sensitivity to broader economic conditions presents a key consideration for buyers.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
548m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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