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5 Phillip Street, Melton South VIC 3338

$539,000 - $589,000

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$539k - $566k Transparent Transparent Listing Based on an openly advertised listing price.

House 4 Beds 2 Baths 2 Cars 723 m²

Listed: 49 days ago

Updated: 18 days ago

Overview

Situated on a generous 723 square metre block, this sizable house in Melton South offers a versatile living experience suited to both families and investors. The substantial land size not only provides plenty of outdoor space but also presents potential subdivision or future development opportunities, subject to council approval.

Inside, the home features a practical layout with multiple living areas including separate lounge and dining rooms, allowing for comfortable family gatherings and everyday living. The kitchen is well-equipped with 900mm appliances, supporting functional meal preparation and catering needs.

The accommodation comprises four bedrooms, with the main bedroom offering a built-in robe and an ensuite bathroom. Additional bedrooms are also fitted with built-in robes and ceiling fans, and two of these bedrooms include ensuites, providing convenience and privacy for family members or guests.

Comfort throughout the year is ensured by ducted heating, evaporative cooling, and ceiling fans spread throughout the residence. The low-maintenance outdoor features include a pergola, synthetic grass, a side access gate, and a shed, creating a practical environment for outdoor activities, storage, and garden enjoyment without extensive upkeep.

Currently privately leased to long-term tenants at $525 per week, the property forms a solid investment with immediate rental income. This combination of a strong rental return plus development potential makes it appealing not only to investors but also to families seeking a spacious home with future expansion possibilities.

Whether aiming to secure a stable income property, provide room for a family to grow, or invest in a property with potential for subdivision, this house delivers on multiple fronts in a sought-after location. Viewing is recommended to fully appreciate the space and the opportunities this property offers.

Local Market Insights

In Melton South, Quiet Listings observed 70 new houses entering the market over the last 30 days, up from 66 during the previous 30-day period, with an average advertised asking price of $677,873. The property type mix of listed properties is predominantly Houses at 89%, followed by land (5%), and units (4%). The most active agency for houses in the Melton South area is currently Ray White, representing 21% of new listings, followed by Landwise Real Estate with 11%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.