SOLD
Sold on 13 Dec 2023 for $660,000

123b Newlands Dr
Paynesville VIC 3880

Bedrooms: 4
Bathrooms: 2
Car spaces: 2
Land area: 1288m2
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Property Details for 123b Newlands Dr, Paynesville

123b Newlands Dr, Paynesville is a 4 bedroom, 2 bathroom House with 2 parking spaces. The property has a land size of 1288m2. While the property is not currently for sale or for rent, it was last sold in December 2023. There are other 4 bedroom House sold in Paynesville in the last 12 months.

Building Type
House
Land Size
1288m2
Local Government
East Gippsland
Lot/Plan
1/PS734995

Last Listing description (October 2023)

Welcome to 123B Newlands Drive, an amazing 1,288m waterfront block of land with stunning views overlooking Newlands Arm.
Just a 650m walk from your back yard to the lovely Sunset Cove beach and picnic area, and a leisurely 1.5klm walk into the town proper along the gorgeous Sunset Cove Walking Track, this property is perfectly situated.
This four-bedroom, two-bathroom home is cleverly designed to function as two separate two-bedroom units, each with their own kitchen and living areas. It is perfect for those looking for a great investment opportunity; both properties have the ability to be rented out, with the combined potential rental income of $2,884 gross per month approx.

This property presents several opportunities for the savvy investor:
Rent out both units to maximise your investment return.
Rent out one unit while you live in the other unit.
Rent out one unit while you renovate the other unit.
Live in one unit while you renovate the other unit then swap.
Renovate the entire house before moving in yourself.
If you're dreaming of the next level dream home, this waterfront block would be ideal for a new build.
You can enjoy a waterfront lifestyle while earning rental income. One of the best features of this property is its stunning location. Situated on the waterfront, you can wake up to water views and enjoy a morning coffee while watching the sunrise. You can spend your days fishing, swimming, boating, or simply relaxing in the peaceful surroundings.
This is a once-in-a-lifetime opportunity to own a waterfront property with investment/lifestyle/development potential.
Enquire today to arrange a private inspection and experience the magic of this property for yourself. A paramount highlight is the property's unrivalled location. Nestled along the waterfront, you'll awaken to breathtaking water panoramas, savoring your morning coffee as the sun graces the horizon. Your days can be spent fishing, swimming, boating, or simply immersing yourself in the tranquility of the surroundings. Seize this golden opportunity to own a waterfront residence with untapped potential at a price that is very enticing. Enquire today to schedule a private viewing and immerse yourself in the enchantment of this property.

Property History for 123b Newlands Dr, Paynesville, VIC 3880

A timeline of how this property has performed in the market
Last Sold
$660,000
13 Dec 2023
  • 13 Dec 2023
    Sold for $660,000
  • 07 Sep 2023
    Listed for Sale $679,000
  • 27 Mar 2023
    Listed for Sale $699,000
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About Paynesville 3880

The size of Paynesville is approximately 7 square kilometres. It has 8 parks covering nearly 3.7% of total area. The population of Paynesville in 2011 was 3,236 people. By 2016 the population was 3,476 showing a population growth of 7.4% in the area during that time. The predominant age group in Paynesville is 60-69 years. Households in Paynesville are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Paynesville work in a professional occupation. In 2011, 72.3% of the homes in Paynesville were owner-occupied compared with 71.5% in 2016.

Paynesville has 3,087 properties. Over the last 5 years, Houses in Paynesville have seen a 56.18% increase in median value, while Units have seen a 73.03% increase. As at 31 August 2024:

  • The median value for Houses in Paynesville is $573,045 while the median value for Units is $392,436.
  • Houses have a median rent of $455 while Units have a median rent of $383.
There are currently 79 properties listed for sale, and 2 properties listed for rent in Paynesville on OnTheHouse. According to CoreLogic's data, 135 properties were sold in the past 12 months in Paynesville.

Suburb Insights for Paynesville 3880

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.