21 Garfield Street, Cheltenham VIC 3192
21 Garfield Street, Cheltenham VIC 3192
3 bedrooms, 2 bathrooms, 155m² internal on a 193m² corner lot with 2 car spaces. Polished floors throughout, open-plan living, and low-maintenance design. Corner orientation provides dual street exposure and natural light.
The corner position is the defining competitive edge here, offering dual street exposure and natural light that is uncommon in standard townhouse configurations. The polished floors and open-plan layout align with what mid-to-higher end buyers in Cheltenham expect, and the 2-car setup adds genuine utility. This property sits comfortably above the typical townhouse stock in the suburb, which tends toward smaller lots and single car spaces. It serves young families and downsizers best, those who want school proximity and low-maintenance living without sacrificing space or parking. The configuration is strong enough to hold its position in a market where townhouse supply is consistent but not oversupplied.
The estimated rental yield of around 4.35% may influence an investor’s view on price, though this should be weighed against owner-occupier demand which tends to drive stronger capital outcomes in Cheltenham. The corner lot might introduce slightly higher pedestrian noise or less privacy than a mid-block position, though this is not confirmed. The property last transacted in 2018, so current pricing reflects several years of appreciation that may or may not be fully supported by recent sales evidence. No development or zoning changes are apparent in the immediate area, which suggests stable but not accelerating value growth.
Detailed Independent Property Report prepared by PropCred Analyst team for 21 Garfield Street, Cheltenham VIC 3192
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Cheltenham presents as a well-established bayside suburb with solid fundamentals, driven by its proximity to beaches, shopping, and transport links. Demand is diverse, supported by healthy rental growth and strong auction clearance rates, indicating sustained interest from both owner-occupiers and investors. Recent price trends for houses show moderate growth, while the unit market is more varied. Key future drivers include its enduring locational appeal, though high house prices present an affordability constraint, and sales volume trends suggest a measured market tempo.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
193m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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