3 First Street, Clayton South VIC 3169

Large 697m² block in Clayton South | 3-bedroom house with 40% building coverage | Bushfire, flood and heritage overlays present | Last sold in 2024 | 5G and FTTC connected The primary buying case for this property rests on its unusually large 697m² land holding in a suburb where detached houses on such blocks are becoming scarce. The 277m² building footprint leaves meaningful room for extension or redevelopment, which positions this as a strong option for a buyer seeking medium-term capital growth through land value appreciation. The rental yield of $685 per week supports an investor or a family planning to hold before renovating. The location within Kingston council and proximity to Westall schools gives it a stable demand base among families. The overlays are the central risk. The bushfire, flood, and heritage designations impose constraints on renovation approvals, development potential, and insurance costs that must be assessed before any offer. A buyer should verify the severity of each overlay and confirm whether the heritage listing applies to the dwelling or the broader area. The 2024 sale date means recent market conditions are already reflected in the price, limiting short-term arbitrage. The large block is the opportunity, but only if the overlays do not materially restrict its use.