OFF MARKET

31-33 Federal Street
Rainbow VIC 3424

Bedrooms: 3
Bathrooms: 1
Car spaces: -
Floor area: 187m2
Land area: 629m2
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Last updated 16 Sep 2024
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Property Details for 31-33 Federal St, Rainbow

31-33 Federal St, Rainbow is a 3 bedroom, 1 bathroom House and was built in 1900. The property has a land size of 629m2 and floor size of 187m2. While the property is not currently for sale or for rent, it was last sold in April 2021.

Building Type
House
Year Built
1900
Floor Size
187m2
Land Size
629m2
Local Government
Hindmarsh
Lot/Plan
1/TP395512

Last Listing description (September 2024)

This unique house and shop has undergone a lovely transformation and represents history and character within the township of Rainbow. Originally opened as a Bank circa approximately 1902 and being the former Stock and Station Agent - Roy Dunn and Sons this iconic building holds fantastic stature and is located in prime position in the main CBD. Offering a spacious shop space perfect for an art gallery, office or business. The lounge room has wood heating, split system and ceiling fan along with an ornate timber mantle. There are 3 excellent sized bedrooms, 2 have BIR's and the master is of excellent size and features a mantle. Formal dining room with mantle that leads into the modern kitchen with large cooker, dishwasher and fan overlooking the rear yard. Modern bathroom with large shower, toilet and vanity and the spacious laundry is ideally located off the rear deck and also has a 2nd toilet. The property also features a beautiful private side entrance, neat gardens with raised vegetable beds and fruit trees for sustainable living, rainwater tanks, sundry shedding and workshop, double carport and solar system.

This property is ideal for the purchaser looking to work from home or own a unique once in a lifetime building with rich township history. It would also have excellent Airbnb potential.

Property History for 31-33 Federal St, Rainbow, VIC 3424

A timeline of how this property has performed in the market
Last Sold
$187,000
22 Apr 2021
Listed for Rent
$180/w
20 Sep 2017
  • 28 Mar 2024
    Listed for Sale Not Disclosed
  • 22 Apr 2021
    Sold for $187,000
  • 10 Aug 2020
    Listed for Sale $187,000
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About Rainbow 3424

The size of Rainbow is approximately 890.7 square kilometres. It has 5 parks covering nearly 8.9% of total area. The population of Rainbow in 2011 was 735 people. By 2016 the population was 688 showing a population decline of 6.4% in the area during that time. The predominant age group in Rainbow is 60-69 years. Households in Rainbow are primarily childless couples and are likely to be repaying under $300 per month on mortgage repayments. In general, people in Rainbow work in a managers occupation. In 2011, 79.4% of the homes in Rainbow were owner-occupied compared with 82.2% in 2016.

Rainbow has 600 properties. Over the last 5 years, Houses in Rainbow have seen a 73.59% increase in median value, while Units have seen a 61.98% increase. As at 31 August 2024:

  • The median value for Houses in Rainbow is $135,689 while the median value for Units is $221,116.
  • Units have a median rent of $115.
There are currently 3 properties listed for sale, and no properties listed for rent in Rainbow on OnTheHouse. According to CoreLogic's data, 18 properties were sold in the past 12 months in Rainbow.

Suburb Insights for Rainbow 3424

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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.