40 Meadowvale Drive Grovedale VIC 3216

Large block | five bedrooms | bushfire overlay | under market valuation The property’s primary buying case rests on its rare combination of scale and configuration: a 3,202m² residential allotment with a substantial 719m² five-bedroom home, four living areas, and multi-generational layout. For a buyer seeking space, separation, and future subdivision potential, this is competitively positioned well below Domain’s estimated market value of $1.28 million against the $2.5 million list price, suggesting a significant negotiation opportunity. The 1995 build, solar panels, and water tank reduce ongoing costs, while FTTP and 5G coverage support modern work-from-home needs. This property best serves a family requiring immediate room to spread out or a buyer with medium-term subdivision intent in a growth corridor. The bushfire overlay is the principal risk, imposing higher construction standards and potentially limiting future development options or increasing insurance premiums. The 2003 last sale date and current list price indicate a seller with a long-held cost base, which may translate to price flexibility. The 22% building coverage leaves meaningful land for subdivision, subject to council approval and overlay compliance. Hold for family use with an eye on rezoning timelines, or negotiate hard on the bushfire overlay discount.