4 Marr Street, Myaree WA 6154
4 Marr Street, Myaree WA 6154
2-bed house on large 905mΒ² site | 2-car carport, single bathroom | Suburb median ~$1.735m | NBN FTTP, no flood or fire risk | Bedroom count conflicts across sources
The principal decision hinges on whether the inconsistent bedroom count reflects a genuine 2-bedroom configuration or an error from nearby listings; if confirmed as 2 bedrooms, this property trades at a discount to the 3-bedroom suburban median of $1.233m, implying a land-value play at roughly $1,915 per square metre. The 240mΒ² building footprint with 27% site coverage leaves significant redevelopment or extension potential in a growth corridor that saw 27.9% appreciation. For a buyer seeking long-term capital gain through land banking or a future knockdown-rebuild, this holds commercial logic, but as a family home, the single bathroom and limited bedrooms constrain resale appeal.
The competitive strength lies in the 905mΒ² lot size within Melville Council, which is rare for a property listed at a 2-bedroom price point in a suburb where most houses occupy smaller blocks. The proximity to Booragoon Primary and Applecross Senior High schools, combined with the absence of bushfire, flood, or heritage overlays, reduces due-diligence risk. This property best serves an investor or renovator who can add a bedroom or bathroom, or a buyer prepared to hold for subdivision opportunity.
Given the land-to-building ratio and the suburb’s growth trajectory, the next step is to instruct a surveyor to verify the block’s subdivision feasibility and confirm any council restrictions, as that analysis will define whether this is a hold-and-extend property or a near-term development site.
Independent, Unbiased Research Report for this property by PropCred Analyst teamΒ
Market Insight:
Myaree presents a sharply divergent market, with its premium house segment exhibiting exceptional capital growth and rapid turnover, indicating intense competition among buyers. This contrasts with a more stable unit market. The suburb’s appeal is driven by strong demand for family-oriented homes, evidenced by high sales volumes for three and four-bedroom houses. While current conditions are robust for houses, future performance will hinge on broader economic factors and the sustained appeal of its established housing stock.