Purchase Recommendation · Step 2 of Sourcing

Quality play · move fast

4 Walsh Street

SUNSHINE NORTH VIC 3020 · WEST CORRIDOR · 12KM TO CBD

A near unique double storey weatherboard on a corner block, owner occupied for 23 years and kept solid. Four bed, two bath, two living, with a modern kitchen already in and real street appeal. The work is a freshen up, not a reno, and it earns its keep from day one.

Facade · 4 Walsh Street

High $800s

Asking guide

413m²

Corner block

~160m²

Home over 2 levels

$600–650/wk

As is rent appraisal

~2 weeks

Until it lists

Status Pre market, interest already Held Owner occupied 23 years Prepared 27 June 2026

The call

Move on it before the campaign opens

We recommend you line Walsh up now. It is scheduled to list in about two weeks and there is already interest. This is not a manufactured equity play, it is a scarcity and quality play: a near unique double storey weatherboard, kept solid, with real street appeal and an already modern kitchen.

The strategy here is the opposite of Gresford. You pay closer to finished value, you do far less work, and you hold a home that is genuinely hard to replace in this pocket. The rent is real on day one at $600 to $650 a week, and the long term premium comes from the asset itself, not the reno.

Our position: get the inspection, building and pest, and the comp set lined up this week, and be in a position to make an early offer before the campaign heats up. If we wait for the launch, we are bidding into a hot list.

The property

Double storey, four bed, two bath, two living, on a corner

At a glance

TypeDouble storey weatherboard

Land413m², corner

Home~160m² over 2 levels

Config4 bed · 2 bath

Living zonesTwo

KitchenModern, already in

Owned23 years, owner occupied

ZoneTo confirm

Distance12km west of CBD

Inspection notes

Genuinely scarce. 24 months of comparables turned up nothing like it. Double storey weatherboards on a corner with this layout are not a regular listing.
Lives bigger than the land. About 160m² of home over two levels on a 413m² block, which is plenty of internal space for the footprint.
Kept solid. 23 years of owner occupation shows. Bones, fittings and finishes are in good order.
Already earning. $600 to $650 a week appraised as is, no work required to start.
Street appeal is the moat. The facade is part of why it will be in demand, you cannot manufacture that.

Internal area and land size are approximate, taken off a rough sketch. We confirm exact dimensions, zoning and a formal rent appraisal before any offer.

Modern kitchen with stone benchtops and island — **Kitchen** Already modern, island bench, gas cooktop

Dining and kitchen zone with timber floors and staircase — **Dining** Open to kitchen, timber floors, stair to upper level

Upstairs bedroom with split system and carpet — **Upstairs bedroom** Carpet, split system, fresh paint

The work

A freshen up, not a reno

There is no kitchen rebuild, no second bathroom to add, no major reconfiguration. The work is targeted and finite.

In scope

Re-level the downstairs. The floors are a touch wavy, a partial restump fixes it.
Modernise the lighting. Swap dated fittings through both levels.
Window furnishings. Replace blinds and curtains for a fresh, neutral finish.
Paint and tidy. Walls, trims, and a light styling pass for photography.

Out of scope

No kitchen rebuild, it is already modern.
No new bathroom, two are already in.
No layout changes, the four bed, two living plan stands.
No structural work beyond the partial restump.

Lower scope, lower mess, faster to a finished, leased asset. Most of the value here is already in the building. You are paying for it, but you are not waiting on a build program to realise it.

The numbers

Rent and yield at a glance

	Today, as is	After a freshen up
Rent	$600 to $650 / wk appraised	Higher again
Position	Earns from day one	Lower vacancy, premium tenants
Work in progress	None required	Partial restump, lighting, furnishings

Rent figures are indicative pending a formal appraisal. Exact land size, zoning and a tight comparable set will be confirmed before any offer.

The trade-offs

The honest bits

Smaller block. 413m² on a corner is tighter than Gresford's 627m². The land lever for a second dwelling is limited, this is not your granny flat play.
You pay closer to finished value. Less room to manufacture equity. The win is the asset quality, not the price gap.
Timing pressure. About two weeks to list, with interest already. We need to move with intent.
Floors are wavy downstairs. Not a deal breaker, but factor the partial restump in the budget.
Less to add. If you enjoy the value add reno game, this one will not scratch that itch.

Next steps

How we play it

Pre-list inspection this week

Walk the home with the agent before the campaign, get a feel for the vendor and the price expectation.

Building and pest, rent appraisal, comp set

Run the diligence in parallel. Confirm exact land size, zoning, comparable evidence and a formal rent appraisal.

Early offer before launch

If the numbers stand up, we put a clean, fast offer in front of the vendor before the campaign opens and the bidding starts.

Freshen up and lease

Partial restump, lighting, furnishings and a paint refresh, then straight to market for a quality long term tenant.