236 Waverley Road MALVERN EAST

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Higher risk as newer precinct
Good area pricing range meaning lower risk on resale

Concerns

Poor rental prospects
Requiring significant additional cash to purchase price
Poor street
South facing rear (negative light issues)
Possible negative noise impact
Mal James
Mal James
0408 107 988
mal@james.net.au

Comments on 236 Waverley Road MALVERN EAST

The rating was 469 - but needs to be recorded as 500 or else will not show publicly.

236 Waverley Road is not a home or offering we would normally consider.
- Very busy road
- South rear garden (light)
- Major reno
- Some sloping away from road
 
It rates poorly by all our normal measures.
 
However, at the right price, for the well informed, who wanted a serious project and had the capabilities and experience, then this is a home worthy of some consideration.
 
Why?
1. PRICE: Its price point for what it is and what it can be to the right buyer in the right future market – meaning when there is lots of stock it will always be viewed as main road (negative) – however when stock is limited and market rising it could well be viewed as opportunity (positively)
2. POSITION: the street is bad, but the adjacent park is great and a winner
3. PROPERTY: The home and front rooms have real and valuable character and can be enhanced by a smart box on the back (STCA). There is room and no obvious tree issues.
 
Its PPP’s are not sound in their current form but with skill the PPP’s can be transformed.
 
Additional:
- The rear is surprisingly quiet
- It is still south facing rear, so need to consider light in a reno.
- Would orientate towards park entrance
- Garage placement and must have ability to turn car around inside block – no reversing out
- Need secure gates and fences for young children
- The reno is circa $1M to do it justice – will need internal steps down to deal with slope (additional issue)
- Double glazing in key spots will work downstairs due to double brick – upstairs will need insulation thought re noise entering through thinner walls
 
Not for the faint hearted but is doable for the experienced and could be an exciting project.


Advice that Matters

James Buy Sell works across Melbourne’s top-end property market to help our clients make smart real estate decisions.

2
Bedroom
2
Bathroom
2
Parkings
696sqm
Land Area
Floor Plan Agent

Sold - 12:00 PM Mar 26 2022

Quote $1,700,000 - $1,800,000

South Facing

Full James Rating Sheet

Advice that Matters

James Buy Sell works across Melbourne’s top-end property market to help our clients make smart real estate decisions.