The Property

                                                         95 & 95A Westbury St, Balaclava                  

84 Paxton St

Your
Property

 

In this section, we take a dive into the nitty-gritty of your property. We analyse the property itself, its surrounds and the numbers that matter. We also take a look at the comparable sales in the area and how they stack up against your property.

The Numbers

 

4 - Bedroom 

2 - Bathroom

5 - Car space

 

Total Space - 670m2

Internal - 176m2

 

Position - East (Front) / West (Rear)

 

Sale Method

Off market

 

Agent Asking Price

$1,050,000 - $1,150,000

Current Offer

$1,194,000​

 

Milk Chocolate Valuation 

Logical Price: $1,100,000 - $1,150,000

Emotional Price: ​$1,150,000 - $1,200,000

The Figures

Buy, Build, Rent

Buy, Develop, Rent - 3 Lots

Buy, Develop, Rent - 2 Lots

The Stats

Distance to CBD

12.3km (Flinders St Station) by car and 8km as the crow flies

Capital Growth Rates

Combined capital growth for units & houses in South Kingsville in the past 12 months is 15.68%

Houses Sold

The number of houses sold in the last 12 months is 31

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The Details
 
Overview
This property presents two key opportunities given the lot size, frontage and what is happening in the immediate area. We like the options to either sub-divide and develop three townhouses or alternatively build one grand home. We don't like the existing property and the makeup of the footprint and believe you would be over capitalising if renovating the existing. We've crunched the numbers on both scenarios and the feasibilities can be found by clicking on the link in the left-hand column, under the title 'The Figures'. 
 
It's also important to note that there's a new suburb named Altona North being developed in the current industrial zone in close proximity to this property. Whilst we like this for the overall gentrification of the area, the numbers on the particular property of interest just don't stack up anyway.
 
Numbers wise, the option to build a four bedroom home is superior to the subdivision and build of three townhouses. Ultimately, this option is ideal for you if you wanted to build your dream home in a location you like (not love!). 
 
Our Thoughts
Given South Kingsville was not your most preferred suburb and the numbers are not amazing, we would recommend looking at alternative options.
 
CoreLogic Property Report
Click here

Demographic

Current DA Sites With Council For Approval

3 lot sub-divisions: Paxton St

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2 lot sub-divisions: Paxton St

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* Milk Chocolate price data used on this website is sourced and relies upon information supplied by a number of external sources (including governmental authorities). This data is supplied on the basis that while Milk Chocolate believes all the information provided will be correct at the time of writing, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information on this website through any cause whatsoever and limits any liability it may have to the amount paid to the external sources for the supply of such information.