23 Turner Street, North Wonthaggi VIC 3995

Corner-block risk | Renovated kitchen but 1970s bones | Significant capital gain since 2018 | Rental yield below 5% The property carries notable risk in its 1970s building envelope, where the 39% coverage and 4-metre roof height suggest potential for inefficient thermal performance, which may cost a buyer between $1,500-2,500 annually in heating and cooling even with the installed reverse-cycle unit. However, the corner block configuration on 905sqm offers an opportunity for future subdivision or dual occupancy in Bass Coast council area, though no planning overlays currently confirm that pathway. This house should be held for medium-term capital growth rather than cash flow, given its yield sits below 5% even at the higher rental estimate. What is competitively strong here is the combination of a fully fenced corner block with four-car parking—rare in North Wonthaggi where 79% of properties are owner-occupied and supply is constrained. The renovated kitchen and timber flooring remove immediate renovation costs, positioning this house as move-in ready for a family seeking the Wonthaggi North Primary School catchment within walking distance. It serves best a buyer wanting a low-maintenance holding property on a site that holds latent development value. Given the mid-point valuation aligns closely with the current asking price after 7% annual growth since 2018, the prudent next step is commissioning a geotechnical assessment of the 905sqm block to confirm subdivision feasibility before proceeding further.