47 Calvert Street, Colac VIC 3250

Heritage overlay | 895m² land in town | 3-bed, 2-bath configuration | Strong rental yield potential. This property presents a competitively strong offering for an investor or owner-occupier seeking scale and income within Colac. The dual-bathroom layout for a three-bedroom house is a functional rarity in this market segment, directly enhancing rental appeal and liveability against typical single-bathroom stock. The 895m² parcel with low building coverage provides substantial outdoor utility and represents a landbanking opportunity increasingly uncommon in town centres. The established rental estimate, anchored by climate control and modern appliances, indicates reliable cash flow, with the heritage overlay lending perceived streetscape stability rather than necessarily imposing prohibitive restrictions. This house best serves a buyer prioritizing land component and low-maintenance durability over contemporary finishes. Proceed with a disciplined valuation approach that actively discounts for the superior Fibre to the Premises connectivity and larger land holdings seen at the directly comparable property nearby. The heritage overlay necessitates immediate, factored due diligence into renovation or extension protocols with the local council, a process that mitigates future consent risk but imposes an upfront cost in time and potential consultant fees. The commercial logic lies in acquiring the land advantage and configuration edge at a price that reflects its current presentation, not its potential. Acquire for hold, leveraging the existing income while the land component appreciates; the data supports a strategic entry below the top of the advertised range to account for the identified connectivity disadvantage and overlay conditions. Nearby sales context on Calvert Street informs value: 45 Calvert Street (3-bed, 1-bath, 728m²) holds an estimated value of $574,000, while 49 Calvert Street (4-bed, 1-bath, 1022m² with FTTP) is listed at $550,000–$585,000. This positions the subject property’s asking range with a premium for its second bathroom and solid rental yield, though it must be weighed against the larger block and superior internet at number 49. Your offer should bridge this gap, justifying a premium for the configuration but acknowledging the competitive market data.