17 Reynard Street, Coburg VIC 3058

3 bed, 1 bath on 400m² | 55% site coverage | Coburg High zone | needs serious TLC The property presents a rare configuration in Coburg’s tightly held market: a 3-bedroom house on a full 400m² lot with 55% building coverage, offering genuine scope for renovation or extension without the premium of a vacant block. Its zoning in the Merri-bek area and proximity to Coburg High School make it a strong candidate for families or investors seeking long-term capital growth in a suburb with 82% auction clearance and a median house price of $1.17m. The 5m roof height and reliable connectivity add practical livability, though the key edge is the land-to-building ratio, which is uncommon in this price bracket. The primary risk is the property condition—described as past its prime—which demands a buyer with renovation appetite or a builder’s eye, and the single bathroom may limit appeal for families until upgraded. The 1987 last sale suggests low holding cost basis for a vendor, potentially limiting negotiation room despite the guide sitting below recent estimates. Comparable sales show 138 Reynard Street at $960k for a similar 3/1/2, reinforcing that this property’s upside lies in adding value via cosmetic or structural work. Hold for medium-term capital growth or renovate to unlock rental yield above the $750pw estimate.