3 Katrina Avenue, Murrumbeena VIC 3163
3 Katrina Avenue, Murrumbeena VIC 3163
Detached house | 664 sqm block | family-oriented layout | strong suburb demand | conventional presentation
This is a genuine family-house parcel in a suburb where detached stock on this scale is becoming less common. The four-bedroom configuration suits buyers who need room to grow, and the land size offers practical outdoor space and potential for future improvements. It sits comfortably within Murrumbeena’s established residential streets, appealing most to owner-occupiers seeking a long-term home rather than investors chasing yield. The house competes well against smaller units and townhouses in the area because it delivers rare block depth and a traditional footprint.
The property’s value may hinge on its condition and internal layout, as the listing does not suggest recent renovation. Buyers should weigh the cost of updating kitchens, bathrooms, or flooring against the purchase price. The single bathroom might limit appeal for some families, though the land size could allow for extensions subject to council approval. Proximity to schools, transport, and shopping supports steady demand, but presentation and modernisation will likely drive how quickly it sells and at what level.
Detailed Independent Property Report prepared by PropCred Analyst team for 3 Katrina Avenue, Murrumbeena VIC 3163
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Murrumbeena sits 13km southeast of Melbourne, a tree-lined, art-deco suburb rejuvenated by the train station upgrade and sky rail. Demand is driven by 30-39 year-olds—the dominant cohort—with families making up 46.7% of households and 62.9% owner-occupiers. House prices are elevated but directionless: medians range from $1.605m to $1.71m, with annual growth between -3.0% and +5.9%. Units are weaker, with medians from $420k to $661k and declines as steep as -25% annually. Stock turns in 25-38 days, yet sales volume is thin at roughly 62-115 houses a year. Gross yields are modest for houses (2.57%) but stronger for units (4.4-5.3%), which rent for around $500 weekly versus $672-$825 for houses. The infrastructure upgrade and urban renewal underpin future demand, but affordability constraints and rate sensitivity loom given high entry prices and soft unit performance.
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PropCred Estimated Value
Comparable Sales: Similar four-bedroom houses on 600–700 sqm blocks have transacted around $1.5M–$1.6M | Property Price Band: $1.5M–$1.6M | Value Drivers: land size, layout flexibility, condition and presentation
Bedrooms
4
Bathroom
1
Parking
2
Land
664m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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