3 Madeira StreetManor Lakes VIC 3024
Property Details for 3 Madeira St, Manor Lakes
3 Madeira St, Manor Lakes is a 5 bedroom, 5 bathroom House with 2 parking spaces and was built in 2022. The property has a land size of 680m2 and floor size of 188m2.This Property is currently listed for sale with MI Realtors
Last Listing description (September 2026)
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.
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.
Investors should obtain an independent rental appraisal and confirm all applicable rooming-house requirements before relying on projected returns.
Location & Lifestyle
Located in Manor Lakes, the property benefits from a growing residential environment with access to shopping, schools, parks, public transport and major road connections.
The surrounding area offers convenient access to Werribee and Melbourne's western suburbs, supporting demand from workers, students and other residents seeking accessible accommodation.
Why Consider This Opportunity?
Potential for multiple rental income streams
Attractive alternative to a traditional single-tenant rental
Positioned within an established and growing residential community
Potential appeal to investors seeking stronger gross rental returns
Flexible accommodation strategy, subject to approvals and compliance
The Opportunity
3 Madeira Street, Manor Lakes offers investors the potential to create an attractive rooming-house income model in a highly sought-after western Melbourne location.
With the right approvals, management strategy and rental structure, the property has the potential to deliver stronger gross rental income than a conventional residential lease.
DISCLAIMER: All stated dimensions are approximate and pictures are for illustration purposes only. Particulars given are for general information only and do not constitute any representation on the part of the vendor or agent.
Please see the below link for an up-to-date copy of the Due Diligence Checklist:
http://www.consumer.vic.gov.au/duediligencechecklist
An opportunity for investors looking to unlock the property's income potential - inspection is highly recommended.
Property History for 3 Madeira St, Manor Lakes, VIC 3024
- 20 Aug 2026Listed for Sale Vendor Open to Reasonable Offers !!!
- 25 Mar 2026Listed for Rent $300 / week
- 01 Sep 2023Sold for $1,200,000
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0About 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 6,919 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.
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