367 Old Warrandyte Road, Ringwood North VIC 3134

Elevated bushland views | 1429m² private block | Multi-level family residence | Zoned for Warranwood Primary | Offers closing 21 April This property presents a competitively strong offering for a family seeking space, privacy, and an established bushland setting within the Manningham Council area. Its elevated north-east aspect over the 100 Acres Reserve delivers a rare and valuable permanence of outlook that cannot be replicated on standard suburban lots. The generous 1429m² block, while not the largest on the street, provides exceptional seclusion and a sense of scale that aligns with the high owner-occupant character of Ringwood North. The renovated kitchen and zoned living across two levels cater specifically to the family buyer profile dominant in this area, offering a functional floorplan within a tranquil environment. This house serves best as a long-term family home where the reserve adjacency and views are primary lifestyle drivers, not a development project. The decision hinges on reconciling the agent’s price guide with the substantially higher alternative guide and recent nearby sales. The key risk is overpaying relative to the property’s specific attributes, given its lower land size and single parking space compared to recent higher-priced sales on much larger blocks. The opportunity lies in securing a premium bushland outlook at a potential discount to true reserve-side values, if competition remains within the lower guide. Proceed with an offer strategy anchored to the $1.2-$1.3 million range, justified by the direct comparable at 1453m², while acknowledging the superior $1.8 million sale next door reflects a block over twice the size. Acquire for hold as a primary residence to capitalise on the scarcity of such views; its value is in its use, not its subdivision potential. Recent comparable sales establish a clear value corridor: – 365-367 Old Warrandyte Rd (adjacent, 3697m²): Sold $1,800,000 (Nov 2025) – 4 bed, 4001m² block on same street: Sold $1,975,000 (Jul 2025) – 4 bed, 4046m² block on same street: Sold $2,475,000 (Oct 2025) – Adjacent 364-366 Old Warrandyte Rd (4009m²): Estimated value $1,645,000 (Jun 2025) This data positions the subject property’s value significantly below the $1.8 million benchmark, as its land parcel is less than half the size of that comparable. The realistic value sits between the lower adjacent lot’s estimate and the higher-priced sales, firmly supporting the agent’s guide rather than the street report figure.