3/3 Coolarn Street, Mount Waverley VIC 3149
3/3 Coolarn Street, Mount Waverley VIC 3149
4 bedrooms, 2 bathrooms, 2 car spaces. Townhouse on a 243sqm lot. Zoned for Pinewood Primary and Glen Waverley Secondary College. Estimated rental return of $975 per week. A four-bedroom townhouse on a compact lot is an unusual configuration in Mount Waverley, where larger family homes dominate. This property positions itself as a lower-maintenance alternative for families who prioritise school access and bedroom count over land area.
What is competitively strong here is the bedroom count combined with school zoning. Four bedrooms in a townhouse format is rare in this suburb, and it directly serves families who need space but want to avoid the upkeep of a full house on a big block. The Glen Waverley Secondary College zone is a genuine demand driver, and the rental estimate suggests strong interest from tenants seeking the same school access. The property backs onto parkland, which adds a layer of privacy and amenity that townhouses on busy roads lack. This unit is best suited to a family buyer or an investor targeting the family rental market, where the four-bedroom configuration gives it an edge over typical three-bedroom units in the area.
Several factors may influence the final sale price. The lot size is small for the suburb, and while that keeps the entry price lower than a standalone house, it also limits land value appreciation over time. The finishes and build quality are not confirmed from available data, so a buyer should verify whether the property is recently built or renovated, as age and condition will directly affect both desirability and ongoing maintenance costs. The townhouse format in a complex means body corporate fees apply, which should be factored into holding costs. The mix of unit types on the same street — apartments and townhouses — may create some price variance, but the four-bedroom layout here is differentiated enough to stand apart from smaller units nearby.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/3 Coolarn Street, Mount Waverley VIC 3149
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
2
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Market Insight
Mount Waverley is a premium, family-centric suburb characterised by strong demand from high-income professionals drawn to its top-tier schools and established neighbourhoods. This demographic is driving consistent, albeit modest, price growth in a market with low stock and competitive sales volumes. Future performance is underpinned by its enduring appeal to families and planned transport upgrades, though high entry prices and sensitivity to interest rates present notable constraints on affordability and accessibility.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
243m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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