24 Albert Hill Road, Lilydale VIC 3140

Large family block in established suburb | 3-bed house with dual garaging | Zoned for established schools | No overlays simplifies purchase | Rental demand present This house presents a competitively strong offering on a substantial 866m² lot, a parcel size becoming rarer in established suburbs. Its three-bedroom, single-bathroom configuration with dual car spaces serves the family buyer or long-term holder seeking space and stability. The absence of bushfire, flood, or heritage overlays removes significant approval risk and holding costs, providing a straightforward purchase. It is best suited for an owner-occupier prioritizing land size and school zoning over contemporary finishes, or an investor secured by proven rental demand. The decision hinges on the price premium for land. The asking range sits above the estimated value, demanding justification through the lot’s size or location. While the strong rental yield offers a defensive income stream, the house itself is basic, with an older lease suggesting potential for capital investment in updates. Proceed with an offer anchored to the lower valuation, banking on the land component and low regulatory risk for long-term appreciation, or factor immediate renovation costs to modernize the dwelling for higher rental returns. Recent comparable sales data is not provided, limiting precise value calibration. Analysis relies on a single similar property, indicating this house commands a value premium for its larger land and building size.