2B Devereaux Street, Oak Park VIC 3046

**Size vs location risk | Abandoned neighbouring development uncertainty | Subdivision title complexity** This property sits in a narrow position. The 260sqm block is small for a four bedroom house, and without heritage overlays the site is exposed to future densification that could erode privacy. The abandoned townhouse project at the adjacent address signals development fatigue in the immediate area, which may stall any near term uplift in land value. The buyer carries holding risk without a clear pathway to subdivision or extension at that size. Land value at roughly $4,300 per sqm is already baked in from the $1.12 million estimate, leaving little room for equity growth unless the market corrects upward. This is best held as a live-in property, not a renovation or development play. The interior volume is competitive for Oak Park. Four bedrooms, three bathrooms and four car spaces is rare on a sub-300sqm lot, giving it appeal for a family that prioritises internal amenity over land. The school zoning adds a pool of motivated buyers when you sell. This property works best for an owner-occupier who needs space now and can accept that the lot size caps future returns. Based on the limited comparable sales data, the estimated $1.12 million positions this house at the higher end of its range. Without recent sales for 2B specifically, buyers should anchor on the 2016 sale of 2 Devereaux Street at $775,000 as evidence of past price growth potential, but that is five years stale and does not confirm current support. The value inference is that the market has increased since 2016 but not uniformly across Oak Parks smaller lots. You should confirm current sold data for similar four bedroom houses within 500 metres before committing, and I recommend asking Oak Park Real Estate for any off market listings that would allow a side by side comparison.