69 Condon Cres, Venus Bay VIC 3956

Large lot, bushfire overlay, no flood risk, slow suburb market, 330 day average selling time The bushfire overlay imposes compliance costs and insurance premiums that narrow the buyer pool and cap future resale velocity. This is a cash-flow neutral hold on a 1,222 m² block at 17% coverage, where the 2.8% rental yield indicates the price already factors in the overlay risk and limited internet connectivity. The land is the variable here, not the four bedrooms—this works best as a gradual renovation hold or a holiday home where the absent flood overlay and 8-metre elevation offer genuine protection the comparison sales do not reflect. What makes this property rare is the fenced flat lot with seven car spaces and a detached shed, all on council-maintained bitumen in a 83% owner-occupied street. The 8.6% suburb growth over the past period suggests the long-term play is intact, even as the last twelve months have dipped 1.2%. For a buyer willing to sit through the average 330-day selling cycle and budget for bushfire mitigation, this is the largest landholding near Condon Crescent at a price per square metre that sits within the recent comparable sales range. The building coverage leaves ample room for a second dwelling, subject to council approval, which shifts the investment from a slow sell to a potential land bank. Recent comparable 4-bedroom sales in Venus Bay at $620,000 confirm the market floor is established and the listing at $699,000 sits at the top end of value, meaning negotiation room exists for the patient buyer. The only credible path forward is to commission a bushfire management plan and a soil test for subdivision feasibility before making an offer.