7/124-136 Mason Street, Newport VIC 3015

3-bed townhouse | dual balconies | no overlays | 5G coverage | long-hold tenure mix This property presents a competitively strong offering within its complex, distinguished by its two-car parking provision-a noted advantage over the complex’s typical one-space listing-and its dual private balconies enhancing light and space. Its position, free of bushfire, flood, or heritage constraints, streamlines due diligence and future alteration potential. The unit is precisely suited for a young professional or compact family prioritizing predictable transit access to the CBD, with its 2005 construction balancing modern standards without premium age-related depreciation. The established school catchments provide a stable, government-backed amenity floor. Decision hinges on reconciling its asking price against a bifurcated sales history within the building. Recent comparable sales of three-bedroom units range from $810,000 to $925,000, indicating your listed $850,000-$900,000 targets the lower quartile, a prudent entry point. The primary risk is the negative growth precedent set by Unit 23’s sale, demonstrating that poor timing or specific unit attributes can mute capital growth even within a generally appreciating block. The opportunity lies in acquiring a low-maintenance property within a complex showing solid long-hold growth trajectories up to 4.35% annually, supported by a tenant base where 30% have resided over a decade, signaling neighborhood satisfaction. Hold this property for a minimum of seven to ten years to leverage its rental demand and absorb market cycles, using it as a reliable income-generating property or a low-fuss primary residence. Recent sales of three-bedroom units in the complex provide a direct value benchmark: – Unit 33 sold for $810,000 after an 11-year hold. – Unit 62 sold for $925,000 after an 11-year hold. – Unit 23 sold for $845,000 after a 6-year hold. – Unit 8 sold for $835,000 after a 17-year hold. This data anchors your property’s value firmly within the $810k-$925k band, making the lower end of the guide price a defensible position against the highest comparable sale, though you must justify why this unit does not command a premium like Unit 62.