256 Skye Road, Frankston VIC 3199
256 Skye Road, Frankston VIC 3199
Detached 3/2/2 on 605m² | gated frontage with studio | solar and hardwood floors | street mix of units and houses | best for families and home-office buyers
This house stands out in a street where compact unit blocks and smaller single-level dwellings are common. A full 605 m² block with a secure gated yard, separate studio or home office, and multiple sheds gives it a land and flexibility advantage that most nearby stock simply does not offer. The brick construction, hardwood timber floors, and solar panels point to a property that has been upgraded for practical, low-maintenance living rather than left as older-style housing. It is positioned to suit a young family wanting a safe outdoor space, a first-home buyer seeking a move-in-ready house with room to grow, or an investor looking for a detached house with a strong rental profile in a connected, established suburb. The combination of a genuine third bedroom, two bathrooms, a dedicated workspace, and off-street parking for multiple vehicles is rare in this pocket, and that scarcity is likely to underpin buyer interest.
The value of this property may be influenced by how its dated details compare with more recently renovated houses in the wider area. A buyer might pay a premium for the land size and the studio, but could also factor in the need to refresh the kitchen or bathrooms at some point. The lack of an exact build year and the absence of any disclosed aspect mean condition and presentation during an inspection will carry extra weight. Because 256 Skye Road last transacted at a far lower price in 2015, the current asking range will reflect long-term market movement; however, the actual sale price may hinge on how strongly buyers value the secure gated frontage and detached studio relative to a conventional 3-bedroom house on a similar block.
>> Comparable Sales: 6/1-3 Skye Road sold $298,000 for a 2-bed unit; 62 Skye Road estimated around $870k for a 3-bed house | Property Price Band: $700k–$800k | Value Drivers: land size, detached studio, gated yard and solar, overall condition
Detailed Independent Property Report prepared by PropCred Analyst team for 256 Skye Road, Frankston VIC 3199
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
Execution Risk
2
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Market Insight
Frankston, 40km south-east of Melbourne’s CBD, is a bayside centre anchored by the Bayside Shopping Centre and a heavily visited beachfront. Demand is strong, with houses selling in a median 15 days and units in 22, supported by 676 house and 463 unit sales in the past year. House prices have risen sharply, with medians between $825,000 and $838,000 and annual growth of 11.5–14.8%; units sit at $565,000–$577,500, growing 6.2–6.9%. Weekly rents are $580–$590 for houses and $480–$490 for units, producing gross yields of 3.7% for houses and 4.5–4.6% for units. The retail and beach infrastructure, alongside the sub-$600,000 unit entry point, underpins future demand.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
-
Land
603m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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