62 Grace Street, Melton South VIC 3338
62 Grace Street, Melton South VIC 3338
established pocket | 4-bed on 592 m² | single bath and single car | large deck and pergola | family demand profile
Four bedrooms are offered on a 592 m² block with a central living and meals area, regarded as a practical family layout. The kitchen is described as well appointed, and the bathroom with separate toilet is considered serviceable for the era. Natural light is said to be plentiful, with the large covered deck and pergola seen as a genuine outdoor extension of living space. The long driveway to a secure garage with storage room is viewed as a useful extra. This property is best suited to first-home buyers and young families, as well as investors seeking a functional house in an established commuter suburb with school catchments.
The single bathroom and single car space may be considered limiting against newer stock. The 1970 build might suggest original fixtures in places. The roughly 592 m² land is seen as workable for future options, though no subdivision approval is in place. Future value might be influenced by the balance between building condition and the established pocket near schools, transport, and shopping.
Detailed Independent Property Report prepared by PropCred Analyst team for 62 Grace Street, Melton South VIC 3338
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
Melton South is an outer Melbourne market where affordability pulls in buyer-occupiers; many hold mortgages (58%) and earn $78,000–$130,000. Houses trade near $565,000–$580,000, up 10.7–12.9% annually, though the last quarter slipped 2.7%. Units run $387,000–$400,000, growing 4.7–8.1%. Houses sell in 28–35 days; units faster. Rental demand is the key driver: house rents rose 10.3% and unit rents 11.1% yearly, lifting gross yields to 4.1–5.0%. Annual sales sit around 300. Risks are clear: growth trails Melbourne by 44.4% for houses and 32.3% for units, while median household income sits 36.4% below Greater Melbourne, amplifying rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 57 Grace Street, renovated 3-bed, sold about $500K in 2021 | Property Price Band: $500K–$600K | Value Drivers: condition, land size, layout and presentation
Bedrooms
4
Bathroom
1
Parking
1
Land
592m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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