208/64 Macaulay Road, North Melbourne VIC 3051

2 bed unit 55m² | dated finishes near park | 18yr old sale price irrelevant | strong yield but tight parking The property presents a moderate risk in its fixture quality relative to newer stock, costing buyers approximately $15,000 to $25,000 in outlay for updating kitchen and bathroom fixtures over five years if they desire contemporary finishes—this expense directly reduces net yield to around 5.8% from the estimated 6.66%. The location opposite the recreation reserve and proximity to Arden station offers above-average rental demand, making it a hold for cash flow rather than capital gain, and the judgment is to buy under $500,000 to preserve a 6% gross return. What is competitively strong here is the rare combination of a 55m² internal area with a private balcony and dedicated parking in a 2010 build—features that compress rental vacancy to under 14 days historically, giving buyers negotiating leverage. The unit serves first home buyers seeking low-maintenance living or investors targeting North Melbourne’s 4.6% suburb yield, and one parking space is a distinct advantage over comparable units. To proceed, request a current rental appraisal to verify the $615 weekly figure and inspect for any building defects in the common areas.