24 Bowen Road, Lilydale VIC 3140
24 Bowen Road, Lilydale VIC 3140
Dual living potential | Opposite primary school | Country views | Bedroom count varies by source | Active listing after 14 years
The property’s strongest competitive advantage is its dual living configuration, which is rare in a 462m² house within a sought-after school-adjacent street. The open-plan layout with hardwood floors and separate upstairs and downstairs spaces serves multigenerational families or buyers seeking a home with income potential. Its position directly opposite Lilydale West Primary School and country views create a demand character that typically attracts owner-occupiers willing to pay a premium for convenience and outlook. The bedroom count inconsistency across sources suggests a flexible floorplan that can be marketed as either a 4 or 5-bedroom home, giving buyers negotiating leverage if they verify the actual configuration.
The primary risk is the 14-year gap since last sale, meaning the property may carry deferred maintenance or non-compliant renovations that are not disclosed in listings. Buyers should budget for a thorough building and pest inspection, particularly given the dual living setup may have been altered without permits. The active turnover on the street, evidenced by the nearby 24A sale, indicates market liquidity but also means comparable data is available to anchor an offer. Opportunities lie in the dual living potential to offset mortgage costs or accommodate extended family. This property should be held as a long-term family home with optional rental income from the downstairs space.
Detailed Independent Property Report prepared by PropCred Analyst team for 24 Bowen Road, Lilydale VIC 3140
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Lilydale presents as a stable, family-oriented suburb with high owner-occupancy, underpinned by a professional demographic. Demand is driven by established households seeking long-term security, reflected in consistent sales activity. The market demonstrates solid capital appreciation for houses, with a more tempered trajectory for units, while rental yields remain attractive. Future growth is supported by sustained buyer interest, though a slightly extended sales period compared to peers suggests a measured market pace, with affordability for the dominant demographic a key consideration.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
462m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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