46 Damon Road, Mount Waverley VIC 3149

Large land parcel with redevelopment optionality | 22.4m frontage enables subdivision potential | Zoned for sought-after Mount Waverley primary school | Located in a stable family pocket with low overlay risk. This property’s competitive edge is its 728m² lot with 22.4m frontage and only 26% building coverage, offering a rare configuration advantage in a family-oriented pocket. The single-level 3-bedroom home, while modest, sits on land that permits future subdivision or a dual-occupancy strategy, which is the primary value driver. This suits a buyer seeking medium-term capital growth through land banking or a developer targeting a low-density infill project in a school catchment zone. The absence of bushfire, flood, or heritage overlays reduces approval risk, and the 5G coverage supports modern living standards. The main risk is the property’s dated condition—a single bathroom and open car space limit immediate rental appeal, with estimated income of $650 per week below the comparable 36 Damon Road’s $755. The building’s 186m² footprint and 6m roof height constrain renovation upside without substantial capital outlay. However, the 728m² land size, at $2,266 per m² versus the suburb median of $1.6 million, presents a discount to the land value alone. The buyer should hold for land appreciation or execute a subdivision within 3–5 years, leveraging the frontage and zoning to unlock higher-density use.