535 Neerim Road, Murrumbeena VIC 3163
535 Neerim Road, Murrumbeena VIC 3163
650 m² family block | 4-bed, 2-bath, 4-car house | established Neerim Road corridor | school-zone appeal | family-demand suburb
A 650 m² free-standing family house is offered within a street corridor known for larger period homes and renovated family stock. Four bedrooms and four parking spaces are paired with a land holding that is considered generous for the suburb, and a practical edge is provided over tightly-scaled alternatives. The configuration is best suited to established families seeking room to grow, secure parking, and primary-school-zone access. In a market where renovated family homes are consistently sought, this property is positioned as a solid family-oriented holding rather than a prestige site. Everyday liveability, land size, and the enduring preference for free-standing housing are treated as the main sources of its appeal.
The eventual price may be influenced by the internal presentation when compared with renovated stock nearby. A capital allowance may be required if finishes are dated, whereas a refreshed interior could command a premium. Price may also be affected by land configuration, street frontage, and any planning controls that apply to the site. These factors should be weighed by any buyer forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 535 Neerim Road, Murrumbeena VIC 3163
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
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Market Insight
Murrumbeena sits 13km southeast of Melbourne, a tree-lined, art-deco suburb rejuvenated by the train station upgrade and sky rail. Demand is driven by 30-39 year-olds—the dominant cohort—with families making up 46.7% of households and 62.9% owner-occupiers. House prices are elevated but directionless: medians range from $1.605m to $1.71m, with annual growth between -3.0% and +5.9%. Units are weaker, with medians from $420k to $661k and declines as steep as -25% annually. Stock turns in 25-38 days, yet sales volume is thin at roughly 62-115 houses a year. Gross yields are modest for houses (2.57%) but stronger for units (4.4-5.3%), which rent for around $500 weekly versus $672-$825 for houses. The infrastructure upgrade and urban renewal underpin future demand, but affordability constraints and rate sensitivity loom given high entry prices and soft unit performance.
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PropCred Estimated Value
Comparable Sales: 507 Neerim Road (park-side renovation, ~$2.3M); 526 Neerim Road (953 m² Federation, ~$2.5M) | Property Price Band: $2.1M–$2.3M | Value Drivers: land size, condition, presentation
Bedrooms
3
Bathroom
2
Parking
1
Land
650m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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