A Strong Investment Opportunity with Attractive Rental Returns

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7//234 Princes Way, Drouin VIC 3818

$345,000 - $365,000

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$345k - $362k Transparent Transparent Listing Based on an openly advertised listing price.

Unit 2 Beds 1 Bath 1 Car

Listed: 42 days ago

Overview

This low-maintenance investment unit at 7/234 Princes Way in Drouin offers a straightforward, practical living arrangement ideal for tenants looking for affordability and convenience. Featuring two bedrooms and a single bathroom with parking for one car, the property strikes an economical balance that suits those seeking accessible housing options without extensive upkeep.

Currently leased to a long-term tenant with a secure rental history generating $370 per week, the property benefits from an intended rent increase to $400 per week in December 2026. This steady rental growth potential contributes to a gross income projection nearing $20,800 annually, reflecting an approximate gross yield of 6% based on the current asking price range.

The tenant's expressed desire to continue the lease is particularly beneficial to investors seeking consistent cash flow and minimal vacancy risks. Situated within the established township of Drouin, the property enjoys access to local amenities including shops, schools, and public transport, reinforcing its appeal to tenants prioritizing convenience and lifestyle functionality.

Overall, this unit represents a compelling opportunity for investors—both new and experienced—to add a manageable, income-generating asset to their portfolio with potential for rental return growth and tenant stability.

Local Market Insights

In Drouin, Quiet Listings observed 2 new units entering the market over the last 30 days, down from 4 during the previous 30-day period, with an average advertised asking price of $455,000. The property type mix of listed properties is predominantly Houses at 80%, followed by land (14%), and units (4%). The most active agency for units in the Drouin area is currently OBrien Real Estate, representing 50% of new listings, followed by Sam Paynter L J Hooker Pakenham with 50%. 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.