22 Irving Street, Wangaratta VIC 3677

22 Irving Street Wangaratta | 3 sales in 30 days within 4km | $200k low entry 2020 | Rental yield below 5.5% | Proximity to floodplain without overlay This property presents a moderate entry point into the Wangaratta market with measurable risk in its price positioning. At $490,000, it sits above most recent comparable sales within the suburb, which typically settled between $365,000 and $472,000 over the past quarter. That gap represents a premium you must justify through the 843m² lot size and solar panels, though the 1960 build age introduces deferred maintenance costs that could erode equity in the first three years. The rental return of $495 per week pencils at roughly 5.25% yield, which is adequate but not exceptional given the capital outlay. You should negotiate toward the lower end of that comparable range unless the floorboards and fencing have been recently replaced. What makes this property competitively rare is the combination of a fully fenced 843m² block with solar panels in a school catchment area—elements that appeal directly to young families or downsizers wanting space without strata obligations. The gas heating and air conditioning reduce ongoing holding costs, while the absence of bushfire or flood overlays removes insurance premiums that burden similar regional properties. This house serves best as a long-term hold for an owner-occupier who values land over renovations. The current price asks you to pay for potential, so your strongest move is to commission a building inspection before making an offer, letting the age of the structure inform your final figure.