249 Cuthberts Road, Lucas, VIC 3350 | House for sale | OnTheHouse
 
FOR SALE
$895,000 - $950,000

249 Cuthberts Road
Lucas VIC 3350

Bedrooms: 4
Bathrooms: 2
Car spaces: 2
Land area: 516m2
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Brand New Display Home, 7% Leaseback, Two Years Plus Options To Extend

Two year leaseback at 7% per annum of the sale price. At $950,000 that is $66,500 a year, about $1,278 a week, paid by the builder from settlement.
How the return works
The rent is 7% of whatever you pay, so the dollar figure moves with the price.
At $950,000: $66,500 a year. $5,541 a month. $1,278 a week
At $895,000: $62,650 a year. $5,220 a month. $1,205 a week
Either way the return is 7% per annum.
The lease
- 18 month term, plus four 3 month options to extend, taking it to three years. Options are held by Langdon Building
- Over two years at $950,000 that is $133,000 in rent. Up to $199,500 if the options are taken up
- Renter is the builder
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Property Details for 249 Cuthberts Rd, Lucas

249 Cuthberts Rd, Lucas is a 4 bedroom, 2 bathroom House with 2 parking spaces. The property has a land size of 516m2. The place is currently for sale with Real Estate Group.

Building Type
House
Land Size
516m2
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About Lucas 3350

The size of Lucas is approximately 7.5 square kilometres. The population of Lucas in 2016 was 1014 people. By 2021 the population was 2994 showing a population growth of 195.3% in the area during that time. The predominant age group in Lucas is 0-9 years. Households in Lucas are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Lucas work in a professional occupation.In 2021, 64.00% of the homes in Lucas were owner-occupied compared with 60.70% in 2016.

Lucas has 3,761 properties. Over the last 5 years, Houses in Lucas have seen a 19.11% increase in median value, while Units have seen a 19.74% increase. As at 31 August 2026:

  • The median value for Houses in Lucas is $722,343 while the median value for Units is $527,554.
  • Houses have a median rent of $490.
There are currently 35 properties listed for sale, and 13 properties listed for rent in Lucas on OnTheHouse. According to Cotality's data, 336 properties were sold in the past 12 months in Lucas.

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Lachlan Sylvia
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Henry Geljon
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Real Estate Group
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