3-bed house on 1012m² flat lot | lift & large sunroom | near three schools | no bushfire/flood overlays
This property presents a competitively strong offering due to its substantial, usable land parcel in a practical family location. The 1012m² flat block provides rare sub-division potential or space for extensions, a significant advantage over standard suburban lots. Features like the lift and enclosed sunroom extend its functional appeal to multi-generational living or those planning long-term. It serves families and value-add investors best, given its position within walking distance to three schools and the secure, low-maintenance layout.
The primary decision rests on paying a premium for land size against older comparable stock. Recent sales confirm the market for three-bedroom homes here, but your offer must justify the $525,000-plus ask against recent, lower-priced sales. The 5.3% gross rental yield provides a solid income base if purchasing as an investment. Proceed with an offer that reflects the land value premium, as this property is a hold for capital growth or tailored owner-occupation.
Recent sales on Dean Street establish a clear price benchmark:
– 222 Dean St: $411,888 (3/1/1)
– 224 Dean St: $430,000 (3/1/1)
– 292 Dean St: $465,000 (3/1/4)
– 136 Dean St: $394,000 (2/1/2)
This subject propertyÂ’s asking price is above these, demanding a premium justified by its larger lot, superior building size, and unique features like the lift.