3 Davies Street MALVERN EAST

James Home Ratings's Comments on 3 Davies Street MALVERN EAST

This is one of those homes that says character and opportunity to many. So what is it worth? Lets look at some recent sales. Leopold St with Hocking Stuart sold for just over $1.6m on similar land size and a more livable home. 37 Ewart St was a polished version of this and it just sold for $1,740,000 through Abercrombys - 10% less land. 7 Ardrie is back on the market which had an issue of weaker car parking but was a finished although slightly dated version of 3 Davies completely renovated. It sold for mid $1.9m's. Earlier this year Jellis Craig sold a renovated version without the 2nd story on 15% less land at 26 Ardrie for mid $1.3's. In the last two months Marshall White sold Clyde St and Aintree on 20% smaller land with homes more livable (both single level) for around $1.4m. Land is high $1000's to low $2,000's per sq metre on the smaller blocks and this shell in our opinion is around a $200,000 as $7-800,000 spent would make it a $1million building. When added with land at $1,200,000 that equals a finished two story home in the early $2m's (makes sense). As is; it adds up to $1.5m under strong competition but you may need a bit more to beat off others who share the view on 3 Davies sex appeal. Of course if you are lucky it may be a bit less.