192 Nepean Street, Greensborough VIC 3088
192 Nepean Street, Greensborough VIC 3088
Large 1,020 m² block | 3-bed family house, single bath | Off-market with strong land value | Low-turnover, owner-occupied street | Family upgrader or renovator target.
This property offers a rare landholding for the street, with the 1,020 m² allotment substantially exceeding typical unit or townhouse stock nearby. The detached house configuration suits a family seeking space to renovate or extend, while the land itself carries the primary value—a factor that appeals to buyers looking to build equity over time. Its position in a stable, owner-occupied pocket of Greensborough, with established schools and amenity within reach, reinforces demand from local upgraders rather than investors. For a buyer comfortable with a single bathroom initially, this represents a sound entry into a well-located family area.
The single bathroom may limit appeal to some families, and the absence of confirmed interior condition means the purchase price should reflect potential renovation costs. Older construction on large blocks often carries maintenance considerations, so a building inspection would be prudent. The off-market status may offer negotiation flexibility, but competition from land-bank buyers could firm the price. The estimated value aligns with recent sales for similar-sized houses in the vicinity, though final worth hinges on how the interior presents against the land’s inherent strength.
Detailed Independent Property Report prepared by PropCred Analyst team for 192 Nepean Street, Greensborough VIC 3088
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Greensborough, in Melbourne’s north-east, offers road connectivity via Diamond Creek Rd and an active market with 55 listings last month. Demand is driven by broad buyer interest across owner-occupier and investor segments; houses and units both sell in a median 25 days, with 243 house and 88 unit sales over the past year. Rental demand is firm, particularly for units, which saw rents rise 4.3%. House medians range from $986,900 to $1,100,711, with annual growth between -2% and 3%; unit medians span $665,000 to $760,750, with growth from -3.3% to 3.17%. Recent performance is mixed, with house values up 0.5% but unit values flat on one measure. Future growth rests on continued quick turnover and rental demand, but risks include unit auction clearance at 41.7% (down 37.5%) and rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 180 Nepean St sold $950k (3/2/2); 124 Nepean St sold $1.325M (5/3/2) | Property Price Band: $1.0M–$1.1M | Value Drivers: land size, renovation potential, street stability
Bedrooms
3
Bathroom
1
Parking
2
Land
1020m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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