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2 Ross Street, Colac VIC 3250

$470,000

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$470k - $494k Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 1 Bath 3 Cars

Listed: 16 days ago

Updated: 9 hours ago

Overview

Situated just a short stroll from the scenic Lake Colac, this property offers a blend of comfort and potential, ideal for both families and investors seeking to add value. The three-bedroom home provides a flexible layout, perfect for personalisation and improvement, accommodating various lifestyle needs including those requiring space for home offices or guest rooms.

The kitchen and dining areas create functional everyday living spaces with room for future enhancement. Outside, a generous backyard presents abundant opportunities for outdoor activities, gardening, or entertaining, while the substantial 6m by 9m Colorbond shed offers valuable additional space for storage, hobbies, or workshop use.

Investors will appreciate the property's current rental return of $470 per week, yielding approximately 5.2%, combining steady income with potential for growth through renovation. The location further benefits from easy access to local schools, shops, sporting venues and essential amenities, making it a practical choice for a range of buyers.

Overall, 2 Ross Street suits those ready to invest effort and vision into transforming this property into a desirable home or refined asset, leveraging its space, location and hidden potential.

Local Market Insights

In Colac, Quiet Listings observed 12 new houses entering the market over the last 30 days, down from 19 during the previous 30-day period, with an average advertised asking price of $592,167. The property type mix of listed properties is predominantly Houses at 82%, followed by land (12%), and home for sales (6%). The most active agency for houses in the Colac area is currently Ray White, representing 58% of new listings, followed by Casey McDonald Realty with 25%. 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.