3 Gellibrand Street, Coronet Bay VIC 3984

Elevated coastal views | 3-bedroom family house | 54% building coverage | FTTP connected The property’s primary buying case rests on its elevated position offering panoramic views across Westernport Bay, a rare configuration in Coronet Bay that directly commands a premium over flatter comparables. With 290m² of building area on a 536–559m² lot and 54% coverage, the house provides generous internal space without overwhelming the block, suiting families or downsizers seeking a permanent coastal residence rather than a weekend shack. The high confidence in rental income at $480pw suggests strong demand from long-term tenants, making this viable as a hold-and-rent play if the buyer’s circumstances shift. The medium confidence in valuation at $600,000 introduces a negotiation risk: the buyer must verify recent sales in the immediate elevation band to avoid overpaying, as the price per square metre at $1,119 sits above the suburb median. No bushfire or flood overlay reduces insurance and compliance costs, a material advantage. The 2008 last sale date means the buyer inherits any deferred maintenance from a 18-year ownership period, so a thorough building inspection is non-negotiable. Hold this property for its view-driven scarcity and rental yield, not for short-term capital gains.