2 Gordon Street, Korumburra VIC 3950
2 Gordon Street, Korumburra VIC 3950
family-oriented 3-bed layout | generous 4-car space | established character street | close to local schools | suited to first-home or downsizer
A three-bedroom, two-bathroom house with four-car accommodation is rarely seen in this part of Korumburra, where much of the older stock is limited to single or double garaging. The property is positioned within an established residential corridor where older character homes and newer subdivision product sit side by side, giving it broad market appeal. It is best suited to a first-home buyer or downsizer who needs room for vehicles, storage, or a workshop without the burden of a large yard. The layout is oriented around practical family use rather than showpiece finishes, which is exactly what the local market tends to respond well to.
Value may hinge on the configuration of the four-car space and whether recent updates have refreshed the kitchen, bathroom, and heating. If the land parcel is comparable to the larger blocks seen along this corridor, the price could be supported by future extension or subdivision potential; if it is a standard residential lot, the dwelling itself becomes the primary driver. Buyers should weigh the balance between character appeal and any deferred maintenance, since original-period homes in this area often carry a premium when presented well but trade at a discount when updating is needed.
Detailed Independent Property Report prepared by PropCred Analyst team for 2 Gordon Street, Korumburra VIC 3950
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Median house price in this suburb is $540,000, with a 5% year-on-year decline and a 1.7% quarterly fall, though a compound annual measure of 6.3% points to longer-run gains. Units sit at $420,000 and have dropped 4.6–6.1% over the past year. Houses take 71–91 days to sell, and annual turnover is a thin 80–126 sales. Rental yields are healthy: 4.15–4.55% on houses and 5.1% on units, with median weekly rents of $535 and $400 respectively. The mixed signals—short-term price softening against solid compound growth—framed by an absence of vacancy, demographic and infrastructure data, make forward-looking demand hard to assess. The key risk is continued price erosion and low liquidity.
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PropCred Estimated Value
Comparable Sales: 9 Romano Way sold $640k; 5 Gordon Street sold $695k | Property Price Band: $600k–$700k | Value Drivers: 4-car accommodation, established street, school proximity
Bedrooms
2
Bathroom
2
Parking
1
Land
681m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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