Located 42km north west of Melbourne CBD in Melton, 15 Kurrajong Crescent is a 1979 brick veneer home built on a 586 sqm plot of fully level, rectangular land.
Comprising 3 double bedrooms, one bathroom with separate toilet, open plan kitchen, internal laundry, this north-facing home is for sale at $225,000 through Lorraine Johns of Stockdale & Leggo real estate agents in Melton.
It is currently tenanted at $250 per week.
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Why I like this house and location:
- Located on a quiet and leafy street, this house is only 700m from Melton train station on Brooklyn street and 100m to the local Station Square Shopping Centre which includes Coles, Liquorland, local butcher, newsagent, UFS pharmacy, fruit and vegetable grocer, post office and restaurants.
- Bright and light-filled due to its northern aspect, it has a good size lounge, open plan kitchen which opens to a large patio and backyard which is perfect for entertaining and weekend barbeques. The driveway includes a lockup carport and storage.
- Kurrajong Crescent is a 5-minute drive to the Woodgrove and Coburns Central Shopping Centre at the corner of High street and Coburns road, Hannah Watts Park and Melton Valley Golf Club.
- Being on the southern end of Melton, this location surrounded by schools and learning institutions within a 1.5km radius which include Melton Christian College, St Anthony’s College, Victoria University’s Melton campus, Staughton College, Melton South primary school and Coburn and Brookfield primary schools.
- This location will become increasingly strategic in future due to new residential developments to the west of Melton South in Brookfield and the south in the Toolern and Eynesbury regions.
- Investment wise, this property is cashflow positive at current interest rates.
More information can be obtained from the Melton Shire Council.
Vital statistics
| Suburb | Median house price $ | Weekly advertised median rent $ | Gross yield $ | 3-year growth % | 5-year growth % | Average annual growth % |
| Melton | 220,000 | 230 | 5.4 | 22.2 | 29.0 | 9.5 |
| Melton South | 208,000 | 220 | 5.5 | 18.9 | 22.4 | 9.7 |
| Melton West | 245,000 | 240 | 5.1 | 11.4 | 16.7 | 8.0 |
Source: Your Investment Property, December 2009
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How it’s calculated:
Median price: Median price for the 12 months to August 2009
Average annual growth: Average percentage change over the past 10 years as a per annum figure
5-year growth: Median price percentage change over the past 5 years to August 2009
Weekly median advertised rent: Median price of rental listings for the 12 months to August 2009
Gross yield: Estimated rental return, based on advertised rent to median price
