2/42 Mareeba Cres, Bayswater VIC 3153
2/42 Mareeba Cres, Bayswater VIC 3153
unit on a large subdivided block | leafy family suburb near schools and station | strong owner-occupier demand | older build with renovation upside | not a detached-house opportunity
The configuration is understood to be a unit located on a large subdivided allotment within a street of detached family houses. Such a position is considered rare in Bayswater, where most units are clustered on smaller parcels. The property is positioned to benefit from the area’s established residential character, with schools, train access, and shopping within practical reach. Renovation potential is offered by the older construction, permitting a buyer to add value through modernisation. This property is best suited to owner-occupiers seeking a foothold in a family-oriented suburb, or investors prepared to improve the interior and hold for long-term growth. The street context implies good privacy and outdoor space, which is not typically found in unit stock.
Value may be most affected by the condition of the interior, especially whether the kitchen and bathroom have been updated. The extent of the outdoor area and whether there is any shared driveway or common title may also influence buyer interest. A clear title and separate access might support a higher price, while strata arrangements or aging fixtures could limit it. Market perception of a unit on a former house block may vary, and the appeal of a large yard could be offset by the lack of a full detached-house footprint. These factors might be worth verifying before forming a final view.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/42 Mareeba Cres, Bayswater VIC 3153
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
2
URL has been copied successfully!
Market Insight
Bayswater, 29km east of Melbourne, is an established residential and light-industrial suburb. Demand centres on 30-39 year olds with upper-middle incomes. Houses lead the market: median $928,000, 7.1% annual growth, and sales roughly 26 days on market — 21% faster than nearby Wantirna South. Units lag, with a $567,500 median and a -3.9% quarterly dip. Rents are firm: houses $600 weekly, units $510, with house yields of 3.5-4.2%. The key risk is unit softness; house growth has momentum but rate sensitivity could test affordability.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 34 Mareeba Cres, a detached house on 725 sqm, sold for $890,000 | Property Price Band: $800,000–$900,000 | Value Drivers: land size, condition, layout
Bedrooms
3
Bathroom
2
Parking
2
Land
229m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!