167 Vista Drive Cape Woolamai VIC 3925

Bushfire overlay risk | 1960s build condition unknown | rental yield tight at ~3.1% | premium for coastal position The bushfire overlay imposes higher insurance premiums and stricter maintenance obligations, costing an estimated $2,000-$3,000 annually above standard cover. The 585m² lot with 26% building coverage limits future expansion, but the duplex zoning potential remains unexamined. The double-storey layout with ground-floor bedroom offers multi-generational flexibility, yet the 1960s construction may require structural updates within 5-10 years. Hold for steady coastal appreciation rather than short-term capital gains. This property commands a scarcity premium being 150 metres from the bay beach and walkable to surf breaks, rare for under $950,000 on Phillip Island. The dual living areas and balcony provide strong holiday let or family living functionality. It serves best for owner-occupiers seeking coastal lifestyle with rental income offset, or investors targeting consistent short-stay demand. Contact PropCred for a full due diligence report on overlay implications and renovation cost modelling.