61 Lea Cres, Bundoora VIC 3083
61 Lea Cres, Bundoora VIC 3083
3 bed, 2 bath, 4 car on 540m² | priced above suburb norm | family-oriented pocket | school and park access | fresh listing, limited details
This house holds a clear configuration edge for a family buyer: three bedrooms, two bathrooms, and four parking spaces on a manageable 540m² block. The price guide sits notably above the typical Bundoora house, which signals either a premium position, a superior build, or simply an ambitious entry. Given the limited public detail on finishes and age, the strength here is practical space—especially the generous parking—combined with a location that serves school catchments and commuter routes well. It suits an owner-occupier family wanting room to move without a large yard to maintain, rather than an investor chasing yield.
What may materially shape value is the lack of confirmed construction specifics. If the house is older, the guide might rely on land value and location; if renovated, the price could be justified by condition. The short market time and absence of finish details mean buyers should weigh the cost of potential updates against the asking band. Nearby asking prices for similar-sized houses suggest the upper end of the guide is achievable only if the interior matches the location. A building and pest inspection, plus a check on the exact orientation and street appeal, would clarify whether the price holds or needs negotiation.
Detailed Independent Property Report prepared by PropCred Analyst team for 61 Lea Cres, Bundoora VIC 3083
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
This suburb is an established family market with high owner-occupancy, indicating demand from owner-occupiers rather than investors. House prices range from $855,000 to $900,000, with annual growth between 0.8% and 4.4%; units are softer at $426,000–$515,000, with growth from –2.7% to 3.0%. Days on market span 26 to 56, and annual house sales of roughly 340–370 point to a liquid but uneven market. Rents are steady: houses at $590–$600 per week, units at $500, yielding 3.4%–3.7% for houses and about 5% for units. Future growth depends on sustained owner-occupier demand; affordability at current house prices and the weak unit segment are the main constraints.
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PropCred Estimated Value
Comparable Sales: 29 Lea Cres (3/1/2, 607m², renovated) sold around $1.05M–$1.15M; 38 Grange Blvd (527m², 4/2/2) guided $1.08M–$1.19M | Property Price Band: $1.0M–$1.1M | Value Drivers: land size, parking capacity, school catchment proximity, and interior condition
Bedrooms
4
Bathroom
1
Parking
2
Land
540m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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