245 Scott Street, Warracknabeal VIC 3393
245 Scott Street, Warracknabeal VIC 3393
3 bed, 2 bath, 3 car on 1,066 m² | 1930 build with 245 m² floor area | Main-street mixed-use corridor | NBN fixed wireless available | No flood or bushfire overlay detected
This is a solid, older family house with genuine space—both inside and on the land. The 1930 build offers character that’s increasingly hard to find, and the 245 m² floor plan is generous for a three-bedroom home. The three-car accommodation, combined with a shed and workshop, makes it particularly suited to a buyer who needs room for vehicles, tools, or a small trade operation. It sits on a main-street corridor in Warracknabeal, which means shops and services are within walking distance, and the land itself is flat and usable. The property is best suited to an owner-occupier who values space and practicality over modern finishes, or an investor looking for a solid rental with a 5.3% yield profile in the area. The school zoning for both primary and secondary is a practical plus for families.
The mixed-use nature of the street may affect how the property feels day to day, with commercial premises nearby and main-street traffic a possibility. The 1930 construction means heating and cooling efficiency might be less than a newer build, though split system units are already in place. The estimated value range of $320k–$349k seems reasonable for what’s offered, but the final price may depend on how the interior presents and whether any deferred maintenance is visible. The lack of heritage or flood overlays reduces regulatory risk, which is a quiet positive. A buyer should weigh the convenience of the location against the character of a busy street, and consider what upgrades might be needed over the first few years of ownership.
|| Comparable Sales: 240 Scott Street sold at $325k with 2.91% annual growth over 4 years | Property Price Band: $300k–$400k | Value Drivers: land size, three-car accommodation, central main-street location
Detailed Independent Property Report prepared by PropCred Analyst team for 245 Scott Street, Warracknabeal VIC 3393
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Warracknabeal, a regional Victorian town, presents a high-yielding, low-entry market. The median house price is $250,000 with reported annual growth of 25.31%, though another source cites a listing median of $239,000 and a -7.73% annual change, highlighting volatility. Rental yields are strong at 7.62% against a 4.2% regional benchmark, supported by a tight 0.23% vacancy rate and a $330 weekly median rent. Demand is primarily investor-led, driven by this yield gap and low price point. Houses average 38–100 days on market, reflecting variable liquidity, while 63 sales over the year indicate modest turnover. Future growth constraints include thin unit activity and reliance on a lower-income demographic, while the extremely low vacancy rate underpins rental stability. No explicit infrastructure or key demand drivers are documented, leaving long-term prospects tied to broader regional dynamics.
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PropCred Estimated Value
Comparable Sales: 240 Scott Street sold at $325k with 2.91% annual growth over 4 years | Property Price Band: $300k–$400k | Value Drivers: land size, three-car accommodation, central main-street location
Bedrooms
3
Bathroom
2
Parking
-
Land
1734m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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