57 Cornelius Drive, Wantirna South VIC 3152

3 bed house | 703sqm block | auction 16 May | flood overlay flagged The property’s primary strength is the land-to-building ratio on a 703m² lot with only 28% site coverage, offering rare scope for extension or reconfiguration in a suburb where median 3-bedroom houses sit near a million dollars. The dual garage and air conditioning are functional but not exceptional; the real buying case is the ability to add value through a renovation or second-storey addition, particularly given the school zoning for Knox Park Primary and Fairhills High. This suits a buyer comfortable with a medium-term project—someone who can see past the current finishes and capitalise on the land. The flood overlay is the critical risk, narrowing the buyer pool and likely affecting insurance premiums and future development approvals. It demands a full due diligence check with council on permissible works and drainage history. On the positive side the auction date is mid-May and the price guide sits below comparable cleared properties, which may reflect vendor motivation or the overlay discount. The 1985 last sale means low cost base for the vendor, so realistic negotiation room exists. Hold this property as a land bank with a renovation timeline of 18 to 24 months to lift equity before refinancing or selling.