4 Diana Drive, Blackburn North VIC 3130

Corner block NRZ4 | side-by-side townhouse potential | quiet leafy pocket | school walk zone The property’s primary buying case rests on its corner position within NRZ4 zoning, which supports dual independent townhouse frontages on a flat 719m² lot , a configuration rarely available at this price point in Blackburn North. The absence of heritage, flood, or bushfire overlays removes typical approval friction, and the single-level brick veneer form is well-suited to either a hold-and-renovate strategy or a full rebuild. This house best suits a developer or land-banking buyer seeking subdivision upside, or a family wanting a low-maintenance home with strong school catchment appeal. The main risk is the price guide’s upper range already pricing in some development premium, which compresses margin for a buyer who must borrow heavily. The 23% site coverage and existing 163m² building mean a knockdown-rebuild may offer better returns than a cosmetic renovation, though the latter carries lower holding costs. Rental income of $625pw midpoint provides a partial carry during planning. For a buyer, the soundest approach is to acquire at or below the lower guide, hold the existing dwelling for rent, and lodge a planning application for dual townhouses within 12 months.