2/13 Elm Grove, Mckinnon VIC 3204

Ground floor unit | McKinnon Secondary zone | oversized courtyard | flood overlay noted This unit offers a rare combination in McKinnon: a ground-floor flat with a genuinely large private courtyard, which is uncommon in multi-unit buildings and directly adds usable outdoor living space without body corporate constraints on garden use. The zoning for McKinnon Secondary College is a structural demand driver, particularly for families seeking a secure school catchment without paying house prices. The 1092m² land share is not individually titled but implies a well-proportioned building footprint, reducing the risk of cramped site redevelopment nearby. This property best suits an owner-occupier wanting school access and outdoor space, or an investor targeting stable rental demand from families priced out of houses. The flood overlay is the primary risk: it may increase insurance costs and could affect lending appetite from some banks, narrowing the buyer pool at resale. The 2023 purchase price of $535,000 provides a reasonable floor, but recent building comparables at $550,000–$600,000 suggest modest capital growth in a rising market—this is not a high-growth play. The NBN Hybrid Fibre Coaxial is adequate, not premium. The opportunity lies in below-market entry for a well-located unit with a courtyard that commands a rental premium over standard flats. Hold for steady yield and school-driven demand, not speculative gain.