389 Murray Street, Colac VIC 3250

Large block in established location | 1958 brick with updates | Zoned for local schools | Private yard with shed This property presents a competitively strong offering due to its significantly larger than average land parcel in a settled residential area, providing a rarity of scale for family living or future outdoor use. The modernised finishes in a solid brick home remove immediate renovation costs, serving a buyer seeking a move-in ready home with ample space. Its zoning for well-positioned government schools and proximity to core amenities solidifies its appeal to owner-occupiers, particularly families. The primary decision hinges on the price premium for land size against older building stock, where future capital growth is tied to land value appreciation rather than the structure. The absence of overlays simplifies due diligence. The current yield estimates suggest solid rental demand, supporting a purchase as a long-term hold for either occupancy or investment, with the latter benefiting from the depreciating building age. Proceed if the price aligns with recent mid-range sales, as the land component justifies a hold.