202/55 Cumberland Drive, Maribyrnong VIC 3032
202/55 Cumberland Drive, Maribyrnong VIC 3032
Second-floor river outlook | Lakehouse complex | 2-bed premium apartment | Lifestyle-oriented Maribyrnong precinct | Flood overlay noted
This apartment holds a clear edge within Maribyrnong’s unit market because it sits in a riverfront, lifestyle-focused building rather than standard infill stock. The second-floor position with a large balcony and water views is a rarity in this suburb, where most apartments trade as generic 2-bed, 1-bath walk-ups. Quality finishes, stone benchtops, and Bosch appliances lift it above the ordinary, and the open-plan layout suits downsizers or professional couples seeking low-maintenance living near trails, the marina, and Highpoint. Owner-occupiers looking for a view-oriented home with secure parking and immediate parkland access will find this most appealing, while investors benefit from steady rental demand driven by proximity to Victoria University and transport.
The flood overlay attached to the broader site is the main factor that may temper buyer enthusiasm, though it has not stopped comparable units in the building from transacting in the high-$500s to mid-$600s range. Outlook and floor level appear to drive price differentiation within the complex, so the specific orientation of this balcony and the quality of the river view could meaningfully affect what a buyer is willing to pay. Parking allocation and whether a storage cage is included also matter, as these are not confirmed for this unit and can shift value by several thousand dollars. The building’s early-2010s construction means ongoing maintenance levies should be expected, but the established amenity and strong location likely support resale interest.
|| Comparable Sales: G16/55 Cumberland Drive sold $660,000, 215/55 Cumberland Drive sold $640,000 | Property Price Band: $600,000–$700,000 | Value Drivers: water outlook quality, floor level, parking/storage inclusion
Detailed Independent Property Report prepared by PropCred Analyst team for 202/55 Cumberland Drive, Maribyrnong VIC 3032
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
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Market Insight
Maribyrnong’s housing market is soft, with median house prices ranging from $760,500 to $1.208 million and annual growth negative across all sources, from -0.58% to -11.7%. Units are steadier, with one source showing 5.5% growth and rental yields robust at 5.6% for units and 3.28-3.63% for houses, underpinning investor demand. Rental demand is firm: house rents rose 8.1% and unit rents 4.2% over the past year, with low vacancy rates of 1.45% for houses and 0.93% for units. Buyer confidence has retreated, with auction clearance rates down 10.3 percentage points for houses (to 50.6%) and 20.0 points for units (to 40.0%). Annual house sales volumes vary widely across data providers, from 90 to 132, indicating moderate activity. Price volatility, lower clearance rates, and rent growth point to a market balancing affordability pressures against steady rental demand.
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PropCred Estimated Value
Comparable Sales: G16/55 Cumberland Drive sold $660,000, 215/55 Cumberland Drive sold $640,000 | Property Price Band: $600,000–$700,000 | Value Drivers: water outlook quality, floor level, parking/storage inclusion
Bedrooms
2
Bathroom
2
Parking
1
Land
3194m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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