46 Mclellan Street, Ararat VIC 3377
46 Mclellan Street, Ararat VIC 3377
Large block with rear lane | Period character with bungalow | Tenanted for immediate income | Basic finish level | One built-in robe
This property stands out for its combination of a generous 860-square-metre block, rear lane access, and a period home with character features like dado boards. The included bungalow, shed, and water tank add practical value for storage or flexible use. It serves investors well, as it is already tenanted at a modest rent with a scheduled increase, offering immediate income. Owner-occupiers seeking an affordable detached house with a large yard and room for future improvements will also find it appealing. The land size and ancillary structures are rare advantages in this price range.
The house’s basic finish level and single built-in robe may limit its appeal to buyers wanting a modern turnkey home. The land size discrepancy across some records could affect perceived value, so verification of the actual block dimensions is advisable. The periodic lease means the tenant could vacate, requiring a new tenant search or owner-occupier vacancy. The older period construction may involve higher maintenance costs or energy efficiency upgrades, which should be weighed against the relatively low purchase entry point.
Detailed Independent Property Report prepared by PropCred Analyst team for 46 Mclellan Street, Ararat VIC 3377
Checks found:
Value Risk
✓
Liquidity Risk
✓
Planning Risk
✓
Income Risk
✓
Execution Risk
✓
Market Insight
Ararat presents as an affordable regional market where house price growth has recently outpaced units, which have experienced significant declines. Demand appears driven by investors seeking capital gains and solid rental yields, particularly in the housing segment. The market shows moderate momentum for houses, though recent quarterly gains have softened compared to longer-term averages. Future performance hinges on sustaining investor interest against the backdrop of unit market weakness and potential sensitivity to broader economic conditions.
PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
860m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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