24 Henty Street, Erica VIC 3825

3-bedroom cottage | 1000m²+ block | Erica VIC | priced for value-seeking buyers The property presents a rare configuration in Erica: a three-bedroom house on a generous land parcel exceeding 1000 square metres, which is uncommon for entry-level homes in the area. This land size offers genuine expansion potential—either for a larger dwelling or subdivision subject to council approval—and positions the buyer well against typical smaller blocks. The house itself is basic but functional, best suited to first-home buyers or investors seeking low-cost entry into a tight market where 90% of properties are owner-occupied, indicating stable demand. The primary risk is the limited comparable sales data within five kilometres, which makes accurate valuation uncertain and could affect resale liquidity. The property’s age and lack of documented renovations suggest potential deferred maintenance costs, particularly for plumbing or roofing, which a buyer should budget for post-purchase. However, the $325,000 guide sits notably below the estimated range of $300,000–$400,000, offering a margin for negotiation. Hold this property as a long-term land bank in a low-supply area, or renovate modestly to capture equity from the next owner-occupier wave.