Current Market Valuation
Estimated market value: $1,066,000
Notes: The estimated market value of $1,066,000 (with a range from $930k to $1.23m) is for a *developed house* on the land. The current asking price of $570,000 - $625,000 is for the bare land parcel, indicating a significant value-add opportunity through development.
Purchase History
Last purchased as a block of land (Date not specified in readily available public records) - N/A (Historical price for previous land sale not readily available)
Property Details
Type:
Residential Land
Bedrooms:
0
Bathrooms:
0
Land (sqm):
5958
Car/Garage:
N/A (currently land, potential for multiple subject to development)
Estimated weekly rent:
$650
Based on the median weekly rent for houses in Upwey. A newly developed property on this land could potentially command a higher rent depending on its features and size. [4, 6, 7]
Rental vacancy rate:
2.4% for houses in Upwey (as of May 2025)
Council rate:
To be confirmed with Yarra Ranges Council
Water rate:
To be confirmed with local water authority
Strata fee:
N/A (Not a strata property, currently land)
Home and content insurance price:
To be confirmed (dependent on build and insurer)
Zoning Information
LGA:
Yarra Ranges Council
Zoning:
Low Density Residential Zone (LDRZ)
Bushfire:
Detected (Bushfire Management Overlay)
Flood:
Not detected
Heritage:
Not detected
Potential Developments in the Area
State Government:
No specific major state government developments immediately surrounding 3 Mahony Street were found within the analysis timeframe.
Local Government:
The property itself is a 'Prime Land Development Opportunity' allowing for building or subdivision (STCA) under Low Density Residential Zoning.
Features
Location 3 Mahony Street, Upwey VIC, Australia
What's Nearby
Education
Transportation
Upwey Railway Station - Train (Belgrave Line, direct to Flinders Street, hourly services)
Upwey Station/Burwood Hwy (Upwey) - Bus (Routes 693, 699)
Suburb Performance
Median Price History
Upwey is a healthy market with some recent negative growth for houses, but a good gross rental yield. Houses spend an average of 17 days on market. The property at 3 Mahony Street is currently land for sale, and its future value will be significantly influenced by any development undertaken. [3, 4, 6, 7, 13, 30]
Last 12 months | $856,000
2025 (Feb) | $870,000
12-Month Growth Insight
Annual capital growth for houses: -7.35% (YIP) / -5.9% (Homely) / -7.0% (realestate.com.au)
Houses sell for 6% more than the original asking price in Upwey (Boomscore)
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