3/740-748 Wells Road, Patterson Lakes VIC 3197
3/740-748 Wells Road, Patterson Lakes VIC 3197
This is a three-bedroom, two-bathroom townhouse with three toilets and one car space on a 195-square-metre lot. The internal area is estimated at 144 square metres with hardwood timber floors and a balcony. The property sits in a low-density residential pocket of Patterson Lakes, zoned for Chelsea Heights Primary School and Patterson River Secondary College.
What is competitively strong about this townhouse is its finished quality, with hardwood timber floors and an ensuite master bedroom that are not standard in this price tier. It is positioned above the typical unit stock in the suburb, offering a larger internal area and a land size that supports a family layout without the maintenance of a full house. This property serves a buyer looking for a move-in ready home with a premium finish, where capital growth over the last decade has been strong. It is best suited to a family or an investor targeting the higher end of the local market, where demand is steady and the residential zone has no overlay restrictions.
The single car space may be a material constraint for a family with multiple vehicles, as nearby townhouses often offer two. The rental yield, estimated in a low range, might not appeal to an investor prioritising immediate cash flow over long-term appreciation. The price point sits well above the typical unit entry level in the suburb, which could limit the pool of buyers and extend the time to sell. A buyer should weigh the premium finish and larger layout against the parking limitation and the higher entry cost, forming a view on whether the property’s strengths justify its position in the market.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/740-748 Wells Road, Patterson Lakes VIC 3197
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Patterson Lakes is a tightly held waterfront suburb, prized for its resort-style marina living and proximity to beaches. Demand is driven by affluent professionals, retirees, and families seeking a boating and leisure-focused lifestyle. The housing market demonstrates robust stability with consistent capital appreciation, while the unit segment has shown particularly strong recent growth. The suburb’s unique appeal as a coastal boating enclave underpins its value, though its specialised nature and premium positioning inherently limit broader affordability and buyer pools.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
1
Land
195m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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