25 Ilfracombe Way, Paynesville VIC 3880

4 bed house | 823sqm block | 20m frontage | 70% long-term owner-occupier street The property’s primary buying case rests on its land-to-improvement ratio. An 823sqm block with 20m frontage in a street dominated by long-term owners signals scarcity; most comparable blocks in Paynesville have been subdivided. The four bedrooms and four parking spaces make it functional for a family or someone needing workshop or boat storage capacity. This configuration suits a buyer who values land depth over turnkey perfection, as the house is recently built but the real leverage sits in the land holding. Median house prices in Paynesville sit at $587k, so this property is priced at a premium that reflects its size and position, not its finishes. The risk is that the property was sold as vacant land in early 2023 and now re-listed as a house, which may imply the build was speculative and the price reflects a developer margin rather than owner-occupier value. The 95-day average days on market for the area suggests buyers here are patient, and a quick flip may not attract the same premium. The opportunity is in the block’s subdivision potential or future capital growth from holding the land long-term. If buying to occupy, negotiate hard on the price guide gap; if buying to hold, treat the house as a rental yield placeholder while the land appreciates.