275 Gisborne-Melton Road
Property Rating: 97
162 days on Market

275 Gisborne-Melton Road,
Kurunjang, Vic

house
First listed on 23/07/2024
Property Overview
Bedrooms4
Bathrooms2
Car Spaces4
Current Asking Price

$959K

Cash Required (10% Deposit)

$157,367

Agent

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Market Appraisal

Confidence

High

High

$1,030,000

Medium

$959,000

Low

$930,000

Appraised Rent

Confidence

Medium

$450/week

Original Listing

Street Statistics

Public Housing (%)

0%

Owner Occupiers (%)

83.1%

Median Street Sold Price

$730K

Median Street Rental Yield

2.7%

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Property Investment Scores

Property

Configuration

Very Good

Street

Sweet Spot

Average

Suburb

Proj. Growth

Very Good

Overall

Investment

Very Good

Under Market Value

$120,000

Net Cashflow PA

-$23,203

Gross Yield

2.8%

Purchase Costs

Asking Price

$959,000

Estimated Purchase Price

$840,000

Stamp Duty

$45,470

Transfer Fee

$2,071

Conveyancing

$1,196

Deposit (10%)

$84,000

Reg. Mortgage

$129

LMI Premium

$23,952

Renovation Costs

-

Total Cash/Equity Required

$157,367

Income Statement (Cashflow)

Income

Assumptions

Year 1

Year 10

Rent Received

+4.0% PA

$23,400

$33,305

Expenses

Property Management

+7.7% PA

$1,802

$2,565

Rates

+3.0% PA

$1,584

$2,067

Water

+3.0% PA

$1,015

$1,324

Insurance

+3.0% PA

$1,250

$1,631

Repairs & Maintenance

+3.0% PA

$1,000

$1,305

Net Operating Income

$16,749

$24,414

Interest Repayments

$49,896

$49,896

Net Cashflow Before Tax

-$33,147

-$25,482

Depreciation

-

-

Tax Offset

-$9,944

-$7,645

Net Cashflow After Tax

-$23,203

-$17,837

Balance Sheet

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Assets

Assumptions

Year 1

Year 10

Property Value

6.8%

$1,025,280

$1,853,462

Liabilities

Loan Balance

I.O

$756,000

$756,000

Net Equity

$269,280

$1,097,462

Property Inspection Report

Property Overview

275 Gisborne-Melton Road, Kurunjang is a luxurious home tailored for entertainment, set on a substantial 1155m2 plot. It features four bedrooms with built-in robes, a master suite with a walk-in robe and ensuite, and multiple living zones. A Coonara fireplace anchors the living area, enhancing the open-plan design. The kitchen, with its modern appliances and walk-in pantry, is perfect for cooking enthusiasts. Outside, a Merbau decked pergola and enclosed space, complete with fireplace and bar, make for an ideal event setting. The property boasts a manicured garden, powered shed, and extensive car storage, complemented by amenities like ducted heating and evaporative cooling. Its location near key facilities adds to its appeal.

Inspection Checklist

  • Verify property measurements and land size (1155m2).
  • Confirm condition and maintenance of built-in robes.
  • Assess the functionality of the Coonara fireplace.
  • Inspect the condition of kitchen appliances and cabinetry.
  • Examine the main bathroom renovation quality.
  • Check the integrity of the pergola and decking area.
  • Confirm the power supply and structural integrity of the shed.
  • Evaluate the condition of the double garage and carport.
  • Test gas ducted heating and evaporative cooling systems.
  • Inspect the laundry for accessibility and functionality.
  • Investigate the water tank capacity and usage.
  • Examine proximity and accessibility to local amenities.

Questions for Agent

  • Can you confirm the exact land size and property dimensions?
  • What is the current condition of the built-in and walk-in robes?
  • How recently was the central bathroom renovated?
  • Can you provide more details about the kitchen appliances?
  • Is there any recent maintenance or repair work on the Coonara fireplaces?
  • What materials were used for the pergola and decking area?
  • Can you verify the power and construction details of the shed?
  • Are there any ongoing issues with the gas ducted heating or evaporative cooling?
  • How often is the water tank utilized and what capacity is it currently at?
  • Can you describe the ease of access to the garage and carport?
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Location Opportunity

City of Melton statistics

Location, Location, Location. Selecting an investment location set to grow, gentrify and prosper can set our investments up for success. So how do we find these High Performance locations across Australia? Property Investment is a science. Our Data Scientists have analyzed the most important factors that help identify when an area is set up for strong investment opportunities.

178,960

2021 Population

18

Suburbs

Demand

Employment

Em

New project

Pr

lifestyle

Li

population

Po

Supply

New Supply

Su

Opportunity

Opportunity

Op

Em

Employment Industries
Diverse

Retail Trade - 14.0%

Education and Training - 14.0%

Construction - 11.0%

Health Care and Social Assistance - 10.0%

Others - 51.0%

income growth
Low

Average Income

COMMUTE TIME

29mins

15kms

Good

Pr

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Spent Per Capita

$7K
1

SUEZ Australia

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2

Patties Foods

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ManufacturingConfirmed
$30M
3

Melton City Council

A proposed manufacturing precinct that will provide a range of industrial land for businesses

ManufacturingUnder consideration
$50M
4

Melton City Council

A renewable energy project that aims to reduce the citys carbon footprint

Energy, Electricity, Gas & WaterUnder construction
$25M
5

Western Water

An upgrade to the existing water recycling plant to increase its capacity

Energy, Electricity, Gas & WaterConfirmed
$30M
6

AusNet Services

An upgrade to the existing electricity network to improve reliability and capacity

Energy, Electricity, Gas & WaterUnder consideration
$40M
7

Boral Limited

The Melton Quarry is a hard rock quarry located in the Local Government Area of Melton Victoria The quarry will supply construction materials to the growing western suburbs of Melbourne

MiningUnder construction
$25M
8

Hanson Australia

The Toolern Quarry is a proposed hard rock quarry located in the Local Government Area of Melton Victoria The quarry will supply construction materials to the growing western suburbs of Melbourne

MiningConfirmed
$30M
9

Holcim Australia

The Melton Sand Pit is a proposed sand pit located in the Local Government Area of Melton Victoria The sand pit will supply sand to the growing western suburbs of Melbourne

MiningUnder consideration
$20M
10

Victorian Government

The Melton Hospital Expansion project will deliver a new hospital with increased capacity and services to meet the growing needs of the local community

Community & Other servicesUnder construction
$200M
11

City of Melton

The Melton Library and Learning Hub will provide a modern and inclusive community space for learning recreation and social connection

Community & Other servicesConfirmed
$30M
12

City of Melton

The Melton Community Centre will provide a vibrant and inclusive space for community activities events and services

Community & Other servicesUnder consideration
$25M
13

Victorian Government

The Melton Youth Justice Centre will provide a secure and supportive environment for young people in the justice system

Community & Other servicesUnder consideration
$150M
14

Victorian Government

The Melton Hospital Redevelopment project will deliver a new hospital with increased capacity and modern facilities to meet the growing healthcare needs of the Melton community

HealthUnder construction
$148M
15

Djerriwarrh Health Services

The Djerriwarrh Health Services Redevelopment project will deliver a new hospital with modern facilities and increased capacity to meet the growing healthcare needs of the Melton community

HealthConfirmed
$30M
16

VicRoads

The Melton Highway Upgrade will improve safety and reduce congestion on the highway

Transport & StorageUnder construction
$243M
17

Public Transport Victoria

The Melton Rail Upgrade will improve rail services and increase capacity on the line

Transport & StorageConfirmed
$150M
18

Qube Holdings

The Toolern Creek Freight Terminal will provide a new freight hub for the region

Transport & StorageUnder construction
$100M
19

Melton City Council

A 30m revitalisation of the Melton Town Centre including new shops restaurants and community facilities

Mixed useUnder construction
$30M
20

QIC

A 40m expansion of the Woodgrove Shopping Centre including new retail and dining options as well as a new cinema complex

Mixed useConfirmed
$40M
21

Frasers Property Australia

A proposed 25m mixeduse development in Melton West including residential retail and commercial spaces

Mixed useUnder consideration
$25M
22

Lendlease

A proposed 20m mixeduse development in Toolern including residential retail and commercial spaces

Mixed useUnder consideration
$20M
23

Melton City Council

The Melton Business Park will provide a range of commercial and industrial land opportunities for businesses

Finance, Property & Business servicesConfirmed
$50M
24

Private Developer

The Toolern Creek Business Park will provide a range of commercial and industrial land opportunities for businesses

Finance, Property & Business servicesUnder consideration
$30M
25

Melton City Council

A 25 million redevelopment of the Melton Civic Centre including a new library community centre and council offices

AccommodationUnder construction
$25M
26

Tabcorp

A 20 million hotel and convention centre development at Tabcorp Park featuring 120 rooms and conference facilities

AccommodationComplete
$20M
27

Private Developer

The Melton Business Park project involves the development of a new industrial estate with office and warehouse spaces to support local businesses

TradeConfirmed
$50M
28

Private Developer

The Toolern Creek Development project involves the construction of a new residential and commercial precinct with a focus on sustainability and community facilities

TradeUnder consideration
$30M
29

Victorian Government

The Melton Rail Upgrade project involves the upgrade of the rail line and stations to improve public transport services and reduce congestion in the region

TradeUnder consideration
$100M
30

Melton City Council

The project aims to improve the councils digital infrastructure and enhance communication with the community

CommunicationUnder construction
$25M
31

Telstra

The project aims to upgrade Telstras mobile network in Melton improving coverage and capacity for residents and businesses

CommunicationConfirmed
$30M
32

NBN Co

The project aims to deliver highspeed fibre broadband to premises in Melton improving internet connectivity for residents and businesses

CommunicationUnder construction
$40M
33

Southern Rural Water

The Melton Irrigation District Modernization project aims to upgrade the existing irrigation infrastructure to improve water efficiency and reduce energy consumption

Agriculture, Forestry & FishingUnder construction
$25M
34

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The Werribee Irrigation Area Expansion project involves the development of new irrigation infrastructure to support the growth of agricultural production in the region

Agriculture, Forestry & FishingConfirmed
$30M
35

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Agriculture, Forestry & FishingUnder consideration
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Private Developer

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Li

Local Services

Very Good

1

Norton Dr/High St

Bus Stop

2km
2

Cobblebank Railway Station

Train Station

3km
3

Coles

Supermarket

5km
4

Woolworths

Supermarket

5km
5

Bunnings

Shopping Centre

13km
6

Bunnings

Shopping Centre

14km
7

Melbourne Airport

Airport

20km
8

Melbourne-Essendon Airport

Airport

24km
9

Melton Health

Hospital

6km
10

Sydenham Day Surgery

Hospital

12km
11

Melton Primary School

School

4km
12

St Dominics School

School

4km
13

Kurunjang Secondary College

School

4km
14

University of Melbourne

University

32km
15

Charles Sturt University Study Centres, Melbourne

University

32km

Po

Population Growth

Average Population

POPULATION vs SUPPLY
Under Supply

Projected Population Growth

15.2%

projected

for 2025 to 2027

Very High

Su

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Recent New Home Construction

1.9%

High
SALES PRICE GROWTH

Monthly % Change in Median House Prices (Prev. Quarter)

RENTAL YIELD
Excellent

Average Rental Yield

VACANCY RATE
Very Good

Average Vacancy Rate

Days of Supply
Very Good

Average Days of Supply

Owner Occupier Level

No data available

VENDOR DISCOUNTING
Very Good

Average Population

Pricing

Sold Price

Asking Price

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