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22 Plume Street, Norlane VIC 3214

$575,000 - $625,00

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$575k - $604k Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 1 Bath 2 Cars 776 m²

Listed: yesterday

Updated: 1 hour ago

Overview

Set on a spacious corner allotment of approximately 776m8, 22 Plume Street in Norlane presents a compelling prospect for individuals looking to invest, renovate, or develop. The property's notable corner position not only provides convenient access but significantly enhances its development potential, allowing for possibilities such as subdivision, extension, or redevelopment subject to council approvals.

The existing residence is a functional three-bedroom home featuring an open-plan design that integrates the kitchen, dining, and living spaces. The kitchen is equipped with essential appliances including a gas cooktop, oven, and dishwasher, complemented by abundant cabinetry and storage, which supports practical everyday living. Ducted heating throughout ensures the home remains comfortable year-round.

Two of the three bedrooms include built-in wardrobes, offering ample storage solutions. The central bathroom is thoughtfully designed with both a bathtub and separate shower, providing versatility and convenience. Additional utility is found in the walk-in laundry with an adjoining separate toilet, streamlining daily household chores.

This property appeals particularly to investors, renovators, and developers. Investors benefit from the property's current tenancy until March 2027, generating a steady rental income of $390 per week while considering future enhancements or redevelopment. Renovators will appreciate the solid foundations and layout ready for modernization. Developers will find the expansive land and corner positioning ideal for maximizing value through potential subdivision or new builds.

Strategically located, the home is near local schools, shopping facilities, public transport options, and major road networks, facilitating easy access to broader Geelong and beyond. Its proximity to the Spirit of Tasmania further adds to its connectivity advantages. As Geelong continues to grow, this property offers a rare chance to secure a significant parcel of land with diverse future possibilities in a thriving suburb.

Local Market Insights

In Norlane, Quiet Listings observed 46 new houses entering the market over the last 30 days, up from 35 during the previous 30-day period, with an average advertised asking price of $568,171. The property type mix of listed properties is predominantly Houses at 89%, followed by commercial properties (6%), and units (4%). The most active agency for houses in the Norlane area is currently Area Specialist, representing 28% of new listings, followed by Harcourts with 17%. 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.