OFF MARKET

529 Melbourne Road
Newport VIC 3015

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Floor area: 110m2
Land area: 624m2
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Last updated 11 Nov 2024
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Property Details for 529 Melbourne Rd, Newport

529 Melbourne Rd, Newport is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 624m2 and floor size of 110m2. While the property is not currently for sale or for rent, it was last sold in October 2023.

Building Type
House
Floor Size
110m2
Land Size
624m2
Local Government
Hobsons Bay
Lot/Plan
1/TP545234

Last Listing description (September 2024)

Are you ready for a rewarding renovation project? Look no further than 529 Melbourne Road, Newport. This property presents a unique opportunity to transform a run-down gem into your dream home or possible sub-division (STCA). Located conveniently on a block that runs from a service road on Melbourne Road through to Schutt Street, offering the rarity and obvious development scope of dual frontages, this property holds enormous potential with a myriad of possibilities.

Set on a large parcel of 624m2 approx., the property offers a functional layout of three bedrooms, central bathroom and open plan living providing ample space for your creativity to flourish. Access via Schutt Street offers an abundance of parking for cars, boat, caravan and even a small truck with a high clearance car port. With some love and attention, you can create a comfortable living environment or demolish and build your dream home in a highly sought after neighbourhood.

There is unlimited potential to embrace the opportunity to bring your vision to life. 529 Melbourne Road allows you to reimagine the space to suit your unique needs and personal style. Unleash your creativity and create the home you've always dreamed of.

Alternatively, savvy investors will recognize the potential for significant returns. With the right renovations or subdivision (STCA), this property has the potential to become a valuable asset in an ever-growing property market.
Conveniently located near shops, restaurants, parks, and public transportation, you'll have everything you need within easy reach. The combination of a short drive to the Melbourne CBD provides the flexibility for commuters to choose their preferred mode of transport further highlighting the property's overall desirability and potential for individuals seeking a favourable and well-connected location.

With the right vision, resources, and execution, this property has the potential to become a standout development (STCA) or an exceptional home that leaves a lasting impression on the community and sets the stage for a brilliant future in a suburb that has demonstrated consistent year on year capital growth.

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Property History for 529 Melbourne Rd, Newport, VIC 3015

A timeline of how this property has performed in the market
Last Sold
$1,270,000
10 Oct 2023
  • 10 Oct 2023
    Sold for $1,270,000
  • 25 Jun 2023
    Listed for Sale Not Disclosed
  • 12 Nov 2008
    Transferred

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About Newport 3015

The size of Newport is approximately 5.2 square kilometres. It has 22 parks covering nearly 15.4% of total area. The population of Newport in 2011 was 11,987 people. By 2016 the population was 12,913 showing a population growth of 7.7% in the area during that time. The predominant age group in Newport is 40-49 years. Households in Newport are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Newport work in a professional occupation. In 2011, 70.7% of the homes in Newport were owner-occupied compared with 69.2% in 2016.

Newport has 6,493 properties. Over the last 5 years, Houses in Newport have seen a 7.15% increase in median value, while Units have seen a 6.54% increase. As at 31 October 2024:

  • The median value for Houses in Newport is $1,155,480 while the median value for Units is $761,393.
  • Houses have a median rent of $693 while Units have a median rent of $600.
There are currently 48 properties listed for sale, and 12 properties listed for rent in Newport on OnTheHouse. According to CoreLogic's data, 282 properties were sold in the past 12 months in Newport.

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