1A Leinster Street Ormond VIC 3204

3-bed house on 631m² | Glen Eira council | Flood overlay present | Solar panels & 5G coverage | Zoned for McKinnon schools This property presents a competitively priced entry into the McKinnon school zone on a larger than average block, offering functional accommodation with a study and multiple car spaces. Its current listing price sits notably below the estimated market valuation, suggesting immediate equity potential for a buyer prepared to manage the identified flood overlay. This house best serves a family prioritizing education catchment over premium finishes, or an investor attracted by the positive yield gap against the comparable street property. The flood overlay imposes specific due diligence costs for insurance and potential future development, directly impacting holding costs. The commercial logic here is acquiring a well-located property at a discount to estimated value, with the rental yield underpinning holding costs while the school zoning sustains long-term demand. Proceed with an offer conditional on detailed flood engineering and valuation reports; our property report can precisely quantify the overlay’s risk premium and validate the true market position against recent sales.