This 3-bedroom, 2-bathroom home in Rosanna, Melbourne is currently listed for sale with a price of $790,000 after it was initially listed in May 2020 for $750,000 - $800,000.
Situated in Rosanna, approximately 16km north-east from Melbourne’s CBD, the home sits on a 590.6 sqm allotment (approx.) and is a well-presented brick residence that offers an affordable opportunity into this suburb.
The home features a spacious living room, separate dining room, kitchen with gas stove, main bathroom, laundry, separate WC, reverse-cycle heating/cooling, built-in robes, polished hardwood floors, an undercover deck and lock-up garage. The home also has a self-contained studio with its own bathroom and kitchenette.
This family home is functional with an easy-living layout but also offers potential for a stylish modern update or stunning renovation. Investor possibilities include using this as a medical clinic / consulting rooms (STCA).
Enjoying a convenient location, the home is central to a range of amenities including Viewbank College and Banyule Primary School, Rosanna Village shops and cafes, hospital, buses and train station and parkland and trails.
This is a family friendly suburb that is currently experiencing a modest price growth of 0.5% for 3-bedroom homes. Houses in this area are estimated to range from $750k to $985k. From Feb to April 2020 house prices reached over the $1 million. Units in the postcode also show growth of 2.0% over the last month.
Asking rents in the postcode is also experiencing growth of 2.9% for 3 bedroom houses and 0.4% for units over the last month. In comparison, Melbourne region’s current asking rents have declined by 0.2% for houses and 0.7% for units over the month.
The postcode’s vacancy rate is currently 2.2%. A current gross rental yield of 2.9% can be achieved for houses and 3.1% for units. Although vendors still seem reluctant to sell due to the uncertainty in the housing market, Property listings in this area are gradually increasing, up from 92 properties listed in May to 96 properties in June.
This property has potential as does this postcode. Keep monitoring this market’s growth with SQM Research’s free property data. Also consider the SQM Property Explorer product for more in-depth data and property price estimator.
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