17 Scoresby Avenue, Shepparton VIC 3630

Large land in flood zone | 3-bed with dual living areas | solar & gas heating | zoned for primary & secondary schools This property presents a clear value proposition through its substantial 836m² land parcel, a rarity in the current market that offers future flexibility, though it is encumbered by a flood overlay. The house itself is practically configured with two living areas and modern conveniences like solar panels and gas heating, catering well to a family seeking space and functionality. Its position within the catchments for both Wilmot Road Primary and Greater Shepparton Secondary College solidifies its appeal to owner-occupiers, providing a stable tenancy base if leased. The current asking price sits at a premium to the estimated value, but the land size and coverage ratio suggest a potential scarcity premium for buyers prioritizing outdoor space over immediate building footprint. The primary decision hinges on the flood overlay risk, which imposes potential insurance costs and financing complications that directly erode investment returns and liquidity. The commercial logic lies in acquiring a below-average cost per square metre of land, with the structure effectively adding utility at a low marginal cost. For a buyer, the judgment is binary: accept the overlay’s long-term carrying costs for the land bank potential, or pass for a property with unencumbered title. This property serves as a hold for a patient owner-occupier who can mitigate the flood risk, not as a speculative short-term investment. * **26 Scoresby Avenue:** 4 bed, 2 bath, 2 car on 536m² land. Estimated value $584,000 ($1,090/m²). Off-market, flood overlay. The comparable indicates this property’s significantly lower land rate of $641/m², which partially compensates for its older configuration and flood risk, anchoring its value proposition in land volume rather than built form.