405 Russell Street, Newington VIC 3350

Overlooking Victoria Park | 669m² with 32% site coverage | 3-bedroom house in Ballarat’s Newington | Strong street with long-term capital growth evidence This property presents a rare configuration advantage: a 3-bedroom house on a 669m² lot with only 32% site coverage, sitting directly opposite Victoria Park. For a buyer, the low site coverage means genuine future extension or redevelopment potential without compromising the existing structure. The street has demonstrated strong capital growth, with one long-term hold returning 6.9% annual growth over 26 years. The property serves best for a buyer seeking both immediate family living in a walkable location and a medium-term land bank, given the absence of bushfire, flood, or heritage overlays in a residential zone. The primary risk is the 2018 purchase price of $447,000, which creates a potential overhang if market conditions soften in Ballarat’s 1.8% growth suburb. The 3.6% rental yield at midpoint is below average for the area, meaning holding costs will be higher if not owner-occupied. The opportunity lies in the 7m roof height and 440m elevation, which could support a second-storey addition or subdivision, subject to council approval. Hold this property for at least five years to capture the street’s long-term growth trajectory, or renovate the single living area to improve yield before refinancing.