199 Lakes Road, Greenfields WA 6210
199 Lakes Road, Greenfields WA 6210
This is a five-bedroom, two-bathroom house on 2,440 square metres, built in 1994 with 201 square metres of internal living space. The lot size is the defining feature here, far exceeding typical Greenfields blocks and giving the property a semi-rural feel that is rare within the Mandurah council area. It sits on Lakes Road, which offers a genuine country-lifestyle position while still being close enough to town and freeway access for practical commuting.
The competitive strength of this property is almost entirely in its land. A 2,440 square metre block in a residential zone, with no bushfire or flood overlay, is uncommon and gives a buyer genuine options. The house itself is spacious with high ceilings and five bedrooms, which suits a large family looking for room to spread out. The combination of a big lot, established dwelling, and modern infrastructure like NBN fibre and 5G makes this property most attractive to families who want privacy and space without being fully remote. It sits apart from the typical Greenfields stock of smaller, newer subdivisions.
The heritage overlay is the factor that may most materially affect value or development potential. It does not prevent use of the existing house, but it could limit subdivision or significant modifications, which a buyer should weigh carefully. The property was built in 1994, so while the structure is sound, some systems may be nearing an age where replacement or upgrades are sensible. The estimated rental income of $770 per week suggests strong demand for large family homes in this area, which supports value from an investment perspective, though the gross yield is modest relative to the asking price.
Detailed Independent Property Report prepared by PropCred Analyst team for 199 Lakes Road, Greenfields WA 6210
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Greenfields is a well-established residential suburb experiencing strong buyer demand, with houses selling significantly faster than the broader Mandurah region. This momentum is driven by owner-occupiers, evidenced by a high proportion of mortgaged properties, seeking value in its diverse community pockets. The market demonstrates robust capital appreciation, particularly for houses, supported by tight rental conditions and rising yields. Future growth is underpinned by this sustained demand, though the minimal unit sales volume indicates a market preference for houses, which presents a supply constraint for that segment.
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PropCred Estimated Value
Bedrooms
5
Bathroom
2
Parking
2
Land
2440m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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