3 Madeira Street, Manor Lakes, VIC 3024 | House for sale | OnTheHouse
 
FOR SALE
Vendor Open to Reasonable Offers !!!

3 Madeira Street
Manor Lakes VIC 3024

Bedrooms: 5
Bathrooms: 5
Car spaces: 2
Land area: 680m2
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Exceptional Rooming House Investment Opportunity !!!

3 Madeira Street, Manor Lakes presents an exciting opportunity for investors seeking a property with rooming house potential and multiple income streams.
Ideally positioned in a growing residential community, the property offers the potential to provide comfortable accommodation while maximising rental returns through individual room leasing.
The configuration is well suited to the growing demand for affordable, convenient and well-located accommodation.
Rooming House Potential
The property offers the potential to accommodate multiple residents, subject to the relevant planning, building, registration and rooming-house requirements.
Leasing rooms individually may provide an opportunity to generate a higher gross rental return than a conventional whole-property lease, depending on the final approved configuration and achievable room rents.
Shared living, kitchen, bathroom and outdoor areas can provide residents with practical communal facilities while allowing individual occupants to maintain their own private space.
Rental Income Potential
A room-by-room rental strategy can create multiple sources of rental income, reducing reliance on a single tenant.
Potential rental income will depend on the number of approved rooms, room sizes, inclusions, furnishings, utilities, local demand and the final operating model.
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Property Details for 3 Madeira St, Manor Lakes

3 Madeira St, Manor Lakes is a 5 bedroom, 5 bathroom House with 2 parking spaces. The property has a land size of 680m2. The place is currently for sale with MI Realtors.

Building Type
House
Land Size
680m2
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About Manor Lakes 3024

The size of Manor Lakes is approximately 16.0 square kilometres. There are 9 parks, covering nearly 2.3% of the total area. The population of Manor Lakes in 2016 was 23273 people. By 2021 the population was 12675 showing a population decline of 45.5% in the area during that time. The predominant age group in Manor Lakes is 30-39 years. Households in Manor Lakes are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Manor Lakes work in a professional occupation.In 2021, 71.30% of the homes in Manor Lakes were owner-occupied compared with 70.00% in 2016.

Manor Lakes has 6,920 properties. Over the last 5 years, Houses in Manor Lakes have seen a 12.59% increase in median value, while Units have seen a 8.59% increase. As at 31 July 2026:

  • The median value for Houses in Manor Lakes is $672,993 while the median value for Units is $538,007.
  • Houses have a median rent of $470 while Units have a median rent of $448.
There are currently 70 properties listed for sale, and 54 properties listed for rent in Manor lakes on OnTheHouse. According to Cotality's data, 515 properties were sold in the past 12 months in Manor lakes.

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Harleen Sawhney
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