2/26 Tulip Grove, Cheltenham VIC 3192
2/26 Tulip Grove, Cheltenham VIC 3192
2-bed townhouse | 149m² compact footprint | No overlay constraints | Cheltenham school zone | Strong rental demand
This townhouse holds a clear advantage for buyers seeking a low-maintenance footprint in a tightly held Bayside pocket. Its compact land size places it firmly in the affordable entry tier of Cheltenham, where larger detached houses dominate and rarely come to market at this price point. The absence of bushfire, flood, or heritage overlays removes compliance risk, and the Cheltenham school catchment adds durable appeal for young families or investors targeting long-term occupancy. The property serves downsizers, first-time buyers, or investors wanting consistent rental demand near Southland and rail access.
Value may hinge on internal condition and layout efficiency, as the 149m² lot limits expansion potential. The indicative rent of $610 per week suggests healthy yield prospects, but the final price may be shaped by how well the interior presents against newer townhouse stock in the area. Buyers should weigh the benefit of a smaller, manageable property against the trade-off of limited outdoor space and no confirmed parking. The lack of heritage or flood constraints supports a smoother purchase process, while nearby infrastructure activity could gradually lift desirability.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/26 Tulip Grove, Cheltenham VIC 3192
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
2
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Market Insight
Cheltenham sits as a bayside market where the median house price is roughly $1.3 million, with annual growth ranging from 0.9% to 7.5% across sources — a wide spread pointing to cooling momentum after a strong run. Units trade between $635,000 and $697,500, with growth between -2.3% and 4.6%, reflecting mixed conditions. Demand is driven by proximity to beaches, shopping and public transport, plus a robust auction clearance rate of 87.6%, indicating solid buyer competition. Volumes vary widely, from 102 to 344 house sales, so activity levels are uneven. Rental demand supports the market: house rents average around $730–$750 weekly and have grown 4.2% annually, while unit rents rose 3.8%. Gross yields for houses sit at 3.15%–4.2% and units at 4.4%–4.52%, suggesting steady investor interest. Future growth drivers include the suburb’s established lifestyle appeal and consistent rental absorption. The key constraints are affordability at $1.3 million for entry buyers, inconsistent sales volumes, and potential rate sensitivity given investor participation.
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PropCred Estimated Value
Comparable Sales: 3/26 Tulip Grove sold $700,000–$770,000; 2/28 Tulip Grove sold $395,000 | Property Price Band: $700,000–$800,000 | Value Drivers: school catchment, compact layout, rental yield potential
Bedrooms
2
Bathroom
1
Parking
-
Land
149m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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