2/28 Elizabeth Avenue, Capel Sound VIC 3940

3-bed townhouse | 836m² large lot | coastal foreshore 500m | no overlays | 5G & fibre This townhouse presents a competitive configuration, pairing a three-bedroom, two-bathroom layout with a land parcel significantly larger than typical for the format. This creates a scarcity position in Capel Sound, offering indoor-outdoor living on a near-full-size block without the maintenance burden of a house, best serving a downsizer or professional seeking a low-maintenance coastal lifestyle within walking distance of the foreshore. The absence of bushfire or flood overlays removes a common due diligence cost and risk for the area, while the double garage and modern finishes support immediate livability. The primary decision rests on reconciling the premium for land size against the townhouse typology. The value must be justified by the utility of the large courtyard and the capital growth trajectory of larger lots in the precinct, as comparable sales data for similar configurations is limited. A purchase within the lower half of the listed range would mitigate the format premium and secure a high-yielding rental or a long-term coastal holding with modest holding costs, given the estimated rental yield. Proceed with an offer anchored to demonstrable land value, not building size.