507 Thompson Rd, Norlane is a 2 bedroom, 1 bathroom House with 2 parking spaces and was built in 1960. The property has a land size of 604m2 and floor size of 112m2. While the property is not currently for sale or for rent, it was last sold in September 2017.
This is a great opportunity to enter the fast paced Geelong property market at an affordable entry level. Whether it's as an owner occupier or an investor the way this very neat, updated 2 bedroom home is positioned on the 604m2 (approx) block allows for potential subdivision or extension (STCA) in the future.
Featuring lovely art deco ceilings, polished floorboards & original timber dado's throughout. There is a spacious lounge, with gas heating & split system air conditioner, separate dining room, 2 bedrooms, updated bathroom & rear sunroom. The renovated kitchen features new cabinetry, gas oven & pantry. The generous back yard has established trees & boasts an oversized double garage which is sure to be a favourite place for all the boys & their toys.
Located within minutes of Corio Shopping & Medical Centers, local primary schools & bus services this could be a sound investment with an approximate rental potential of $260 per week.
The size of Norlane is approximately 5 square kilometres. It has 10 parks covering nearly 8.5% of total area. The population of Norlane in 2011 was 8,011 people. By 2016 the population was 8,316 showing a population growth of 3.8% in the area during that time. The predominant age group in Norlane is 20-29 years. Households in Norlane are primarily single parents and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Norlane work in a labourer occupation. In 2011, 48.4% of the homes in Norlane were owner-occupied compared with 43.4% in 2016.
Norlane has 5,370 properties. Over the last 5 years, Houses in Norlane have seen a 31.43% increase in median value, while Units have seen a 31.23% increase. As at 31 October 2024:
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