3/5 Violet Street, Essendon VIC 3040
3/5 Violet Street, Essendon VIC 3040
3/5 Violet Street, Essendon VIC 3040 is a 2-bedroom, 1-bathroom villa/unit with 1 car space, built in 1981, on a 1,355 m² site shared with other dwellings at the same address. The property was listed for sale as a unit in Essendon. It is described as having a bright open lounge/living area with a northerly aspect, a renovated kitchen with dishwasher, and a contemporary bathroom with double shower.
2-bed villa | northerly light | renovated throughout | 1981 build | single-car parking
This villa benefits from a bright, north-facing open living area and a recently updated kitchen and bathroom, which sets it apart from much of the older stock in Essendon. The 1981 construction is solid but not modern, and the property sits within a small group of seven homes on a generous shared site. It would suit a downsizer or first-home buyer seeking a low-maintenance home in an established suburb, with practical finishes and good natural light that reduce the need for immediate work.
The 2019 sale price of $575,000 provides a clear historical benchmark, but current market conditions and the level of finish may have shifted value since then. The shared land and older build could affect long-term capital growth compared to standalone houses, while the single bathroom and one car space may limit appeal for families. A buyer should weigh the quality of the renovation against the property’s age and configuration when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/5 Violet Street, Essendon VIC 3040
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
2
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Market Insight
Essendon is an established, well-connected suburb appealing to those seeking proximity to the city. Demand is driven by its strong transport links and expanding local precincts, attracting both owner-occupiers and a significant rental population. Recent market conditions show divergent price signals, with house values experiencing pressure while the unit market demonstrates stronger rental demand and yields. Future growth is anchored by its enduring appeal and infrastructure, though affordability constraints and inconsistent capital growth present notable risks.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
1355m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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