6 Merrill Street, Mulgrave VIC 3170

4-bed house on 656m² lot | Not on market | Prior listing $1.25M+ | Held 24 years by vendor This property presents a substantial family holding on a large, flat block, a configuration increasingly rare in established suburbs. Its prior listing bracket aligns with the estimated value, indicating vendor expectations are grounded. This house best serves a buyer seeking long-term land ownership and the ability to add value through renovation or extension, capitalizing on the existing footprint. The primary risk is market acceptance at the premium implied by the estimate, given a nearby comparable sale. The recent sale of a similar four-bedroom house on the same street for $940,000 establishes a material benchmark, though differences in condition and presentation are unknown. The opportunity lies in securing a property not exposed to open competition; a strategic offer below the prior asking range could secure a strong land position. Acquire for hold. Recent sales data provides critical context. A four-bedroom house at 3 Merrill Street sold for $940,000 in November 2025. This sale, from a long-term holder, suggests a baseline value for the street. The subject property’s larger estimated value must be justified by superior condition, layout, or position. This disparity requires thorough investigation to validate the premium.