4 School Road, Clunes VIC 3370

Clunes Primary School catchment | dual-use potential as house or land bank | bushfire overlay present | 321m elevation | very low vacancy 1.4% The property’s primary buying case rests on its configuration edge: the 2,000m² house lot with a substantial 216m² dwelling offers a rare combination of walkable school proximity and generous land in a tight market. The 11% site coverage implies significant redevelopment or subdivision optionality, while the separate 4,078m² farm block provides a land-banking position within a suburb showing 6.2% annual capital growth and a 1.4% vacancy rate. This suits a buyer seeking a family home with medium-term land appreciation, or an investor targeting the undersupplied rental market with a 4.17% gross yield. The bushfire overlay is the material risk, imposing higher construction standards and potentially limiting financing or insurance options, which narrows the buyer pool and may soften resale liquidity. The conflicting lot descriptions and off-the-plan marketing for a 221m² site suggest fragmented title or subdivision complexity that requires due diligence on title and council approvals. Opportunity lies in holding the house lot for rental income while the farm block appreciates, or developing the larger parcel into multiple lots. Use this as a long-term land-hold with immediate rental cover, not a quick flip.