7/234 Princes Way, Drouin, VIC 3818 | Unit for sale | OnTheHouse
 
FOR SALE
$345,000 - $365,000

7/234 Princes Way
Drouin VIC 3818

Bedrooms: 2
Bathrooms: 1
Car spaces: 1
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A Strong Investment Opportunity with Attractive Rental Returns

Investment Opportunity – Unit 7, 234 Princes Way, Drouin
Here is an excellent opportunity to secure a low-maintenance investment property in the established and highly sought-after township of Drouin.
Unit 7, 234 Princes Way offers a practical 2-bedroom, 1-bathroom layout with 1 car space, making it an appealing option for tenants seeking affordability, convenience and easy living.
The property is currently returning $370 per week, with the rental income increasing to $400 per week from December 2026. Importantly, the long-term tenant has expressed their wish to continue with the lease**, providing an attractive level of rental continuity for the incoming investor.
At the proposed rental of $400 per week, the property generates an annual gross rental income of approximately **$20,800**, supporting an **approximate gross rental yield of around 6%**, subject to the property's purchase price and excluding outgoings and other ownership costs.
# Key Investment Highlights
* 2 bedrooms
* 1 bathroom
* 1 car space
* Established long-term tenant
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Property Details for 7/234 Princes Way, Drouin

7/234 Princes Way, Drouin is a 2 bedroom, 1 bathroom Unit with 1 parking spaces. The place is currently for sale with Harcourts Pakenham.

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About Drouin 3818

The size of Drouin is approximately 52.4 square kilometres. There are 47 parks, covering nearly 4.0% of the total area. The population of Drouin in 2016 was 12349 people. By 2021 the population was 15287 showing a population growth of 23.8% in the area during that time. The predominant age group in Drouin is 0-9 years. Households in Drouin are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Drouin work in a trades occupation.In 2021, 75.80% of the homes in Drouin were owner-occupied compared with 71.70% in 2016.

Drouin has 10,002 properties. Over the last 5 years, Houses in Drouin have seen a 13.18% increase in median value, while Units have seen a 20.62% increase. As at 31 August 2026:

  • The median value for Houses in Drouin is $695,782 while the median value for Units is $465,869.
  • Houses have a median rent of $575 while Units have a median rent of $450.
There are currently 135 properties listed for sale, and 21 properties listed for rent in Drouin on OnTheHouse. According to Cotality's data, 594 properties were sold in the past 12 months in Drouin.

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Grant Johnson
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Harcourts Pakenham
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