22 Yallourn Street, Ardeer VIC 3022

development upside priced in | backyard redevelopment requires council approval | 2-bed scope limits family appeal | 604sqm land is the real proposition This property is effectively a land trade with a livable house attached, as the 604sqm allotment in Ardeer offers redevelopment optionality that a standard family home does not. The key risk mechanism here is council approval for a second dwelling at the rear, which if delayed or denied, leaves you holding a well-maintained but compact two-bedroom house that competes directly with cheaper entry-level units nearby. The opportunity cost sits in the land value; you are paying a premium for optionality, not for the house itself. If you need immediate cash flow, hold and rent the existing house while navigating the planning process. If you intend to build, this is a sensible land bank with good access to transport and services, but only if you accept the timeline and approval risk. What is competitively strong here is the wide driveway with side access, which is rare for a 604sqm block in this pocket, and the clear potential to add a separate dwelling without demolishing the existing structure. This gives a buyer dual-income optionality or a multi-generational layout that many similar blocks cannot offer. The property serves best a developer or an investor with patience to navigate approvals, or a first-home buyer willing to hold for capital growth while living in a functional but entry-level house. Your next step is a title check and a pre-application meeting with Brimbank Council to test whether a second dwelling is viable on this specific lot, because that single factor determines whether this is a good buy or simply an average house on an average block.