18 Lisheen Road, Cockatoo VIC 3781

Forest fire overlay | low land value relative to estimates | fibre not FTTP | long commute trade-off The property sits within a bushfire overlay that imposes stricter building covenants and higher insurance premiums, a cost that compounds annually and reduces resale liquidity compared to non-overlay lots. The listing range is below both Domain and Property.com.au estimates by over $100,000, which signals either pricing conservatism or an unresolved condition issue. For a buyer willing to hold through a fire season, the land size and quiet position offer genuine scarcity in Cockatoo; treat this as a long-term hold with renovation upside, not a quick flip. The 3,985 sqm block with full fencing and a 1970s structure gives you something rare in this part of the Yarra Valley—a private, flatish lot within walking distance to Cockatoo Primary. For a family or downsizer prioritising space over polish, the open-plan layout and split-system climate control reduce immediate reno pressure, but the single bathroom and dated floorboards mean the next buyer will need to budget for upgrades. This property suits a buyer who values land bank and school catchment over turnkey condition; book a pest and fire overlay compliance inspection before offering.