44 Compton Street, Reservoir VIC 3073
44 Compton Street, Reservoir VIC 3073
Character-rich 2-bed on 613m² | land-led opportunity | period charm intact | walk to station and lake | rare footprint for the street
This house offers something increasingly uncommon in Reservoir—a genuinely substantial landholding paired with a character-filled original dwelling. The 613m² block, combined with soaring ceilings, leadlight windows, and Baltic pine flooring, gives it a presence that newer stock simply cannot replicate. It is not a turnkey proposition; rather, it is a property for buyers who see the value in securing a large parcel in an established pocket, then shaping the house to their own needs over time. The open-plan living and separate kitchen work well for everyday use, while the alfresco area adds practical outdoor appeal. This suits owner-occupiers wanting a foothold in a well-located suburb with room to grow, rather than investors chasing immediate yield or those seeking a finished, low-maintenance product.
The value story here is driven by the land and the flexibility it provides. With scope to extend or enhance subject to council approval, the property may appeal to buyers comparing it against the cost of a renovated four-bedroom house nearby—where the premium for extra bedrooms and a second bathroom is significant. The two-bedroom configuration might limit some family buyers, and the central bathroom, while functional, may feel dated to those wanting move-in condition. The absence of confirmed overlay or title information means a buyer should verify what can actually be built before committing. The period features are a genuine draw, but they also suggest the house will need ongoing maintenance. Pricing will likely hinge on how much weight a buyer places on the land versus the dwelling, and how far they are willing to stretch for a rare 613m² block in this location.
|| Comparable Sales: 1/23 Compton Street sold $700,000 (2-bed unit, 140m²) | Property Price Band: $900,000–$1.0M | Value Drivers: land size, period character, extension potential, location proximity to station and lake
Detailed Independent Property Report prepared by PropCred Analyst team for 44 Compton Street, Reservoir VIC 3073
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
Reservoir, a middle-ring Melbourne suburb, pairs a 63% house, 37% unit mix with solid transport links via Mernda and Hurstbridge line stations and ring road access. Demand is led by families and investors, the latter drawn to gross yields of 3.24% for houses and 4.36% for units, alongside strong rental growth: house rents up 5.5% and unit rents 4.8% over the past year. Median house prices are $950,000, with annual growth ranging from 2.1% to 6.7% depending on the measure, while unit medians are $659,000 with growth of 1.7% to 5.86%. Houses transact in 46–51 days, implying moderate supply pressure. Sales volume of 541 houses over 12 months confirms active turnover. Future growth is supported by infrastructure proximity and rental demand; key risks are investor yield sensitivity and inconsistent capital growth across data sets.
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PropCred Estimated Value
Comparable Sales: 1/23 Compton Street sold $700,000 (2-bed unit, 140m²) | Property Price Band: $900,000–$1.0M | Value Drivers: land size, period character, extension potential, location proximity to station and lake
Bedrooms
2
Bathroom
1
Parking
2
Land
610m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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