80 Leeds Road, Mount Waverley VIC 3149

Large 803sqm block | MWSC zone | classic renovator or rebuild | no overlays | strong connectivity The buying case hinges on the land. An 803-square-metre site in Mount Waverley Secondary College catchment, free of heritage, flood, or bushfire overlays, is increasingly rare and gives a buyer positional leverage. The existing dwelling is secondary; the property’s real value is in its scope for extension, a full rebuild, or long-term land banking. This suits owner-occupiers wanting to shape a family home in a proven school zone, or investors seeking a site with future subdivision potential subject to council approval. The building coverage of only 28% confirms significant room to expand without losing garden space. The main risk is the gap between automated valuations and the asking price, which suggests the vendor is pricing for the land’s potential rather than the house’s current condition. That means a buyer must underwrite that premium with a clear plan—renovation budget, rebuild timeline, or holding period—or risk overpaying for unexecuted upside. Rental yield around 2.6% is low for an investor without a value-add strategy. The opportunity is to secure a clean, large site in a tightly held pocket where school demand keeps resale buoyant. Hold for the school zone and land appreciation, or act quickly if you intend to build within two years.