3 Lisa Court Glen Waverley VIC 3150

Large 872m² lot in Glen Waverley | Updated family home with 319m² floor area | Zoned for Mount View Primary and Highvale Secondary | No overlays reducing development potential. This property’s primary buying case rests on its rare combination of a generous 872m² block and a substantial 319m² floor area in a sought-after Monash school catchment. The absence of bushfire, flood, or heritage overlays removes common constraints, giving a buyer positional flexibility for future renovation or subdivision. The 2016 purchase price of $1.22m provides a clear historical floor, and the current midpoint estimate of $1.6m-$1.667m suggests modest capital growth over eight years, not speculative froth. This house is best suited to a family seeking long-term occupancy with latent land value, or an investor targeting stable rental demand at $855 per week from a catchment-driven tenant pool. The principal risk is that the property lacks recent comparable sales to confirm the upper end of the valuation range, meaning the auction price may reflect buyer sentiment rather than market evidence. The 37% site coverage leaves room for extension, but any development would require council approval and adds holding costs. The opportunity is to negotiate below the midpoint, using the 2016 baseline and absence of recent sales as leverage. Hold this property as a core family home or a low-turnover rental; do not flip without securing a discount to the midpoint.