10 Rainbow Place, Mornington, VIC 3931 | Property Value & History | OnTheHouse
OFF MARKET

10 Rainbow Place
Mornington VIC 3931

Bedrooms: 3
Bathrooms: 2
Car spaces: 2
Land area: 91m2
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Last updated 21 Sep 2026
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Property Details for 10 Rainbow Pl, Mornington

10 Rainbow Pl, Mornington is a 3 bedroom, 2 bathroom Unit with 2 parking spaces and was built in 2016. The property has a land size of 91m2. While the property is not currently for sale or for rent, it was last sold in April 2016.

Building Type
Unit
Year Built
2016
Land Size
91m2
Local Government
Mornington Peninsula
Lot/Plan
16/PS723069

Last Listing description (September 2026)

Tucked into a quiet, tightly held pocket of one of the Mornington Peninsula's most sought-after seaside townships, 10 Rainbow Place offers something genuinely rare: a beautifully appointed, near-new home in turnkey condition, positioned just moments from the sparkling waters of Port Phillip Bay and the heart of vibrant Mornington Village. Lightly lived in and immaculately presented, this is a home where the hard work has already been done - the only thing left to do is unpack the car and pour the first glass of peninsula pinot.

A thoughtfully designed three-bedroom, two-bathroom residence with a double garage and not one but two outdoor terraces - perfect for tracking the sun, entertaining year-round, or simply enjoying a quiet coffee in the morning air. The kitchen and appliances have been upgraded to a premium specification, delivering the kind of finish that's increasingly difficult to find at this price point in this postcode.

The layout and condition of this home make it a standout option for an unusually broad cross-section of buyers:

*Downsizers releasing equity from larger metropolitan homes will appreciate the low-maintenance footprint, ground-floor convenience and lock-and-leave practicality
*Young professionals and couples can enjoy a polished, ready-to-go base within easy reach of Melbourne
*Families benefit from three bedrooms, dual bathrooms and immediate access to top-tier schools
*Second-home and weekend buyers get a true lock-up-and-leave coastal retreat with zero renovation overhang
*Investors are presented with a low-maintenance, high-appeal asset in a suburb with a long, consistent record of capital growth and rental demand

Mornington is the jewel in the crown of the Mornington Peninsula - a sun-drenched bayside township roughly 60 kilometres south-east of Melbourne's CBD. It is the rare suburb that offers the best of both worlds: weekend energy, world-class hospitality and unspoilt coastline on one hand, weekday convenience, established infrastructure and genuine community on the other.
Life here is dictated by the rhythm of the bay. Mornings begin with a coffee on Main Street or a swim at Mothers Beach. Afternoons stretch into long lunches at one of the peninsula's celebrated cellar doors. Evenings are spent watching the sun melt into the water from the historic Mornington Pier - or, increasingly, from one of two private terraces at Rainbow Place.

The home sits within walking and easy driving distance of several of the area's most beloved beaches:
*Mills Beach - home to the iconic, candy-coloured beach boxes that have become synonymous with the Mornington brand
*Mothers Beach - a gentle, family-friendly cove sheltered by Schnapper Point and the Mornington Pier
*Fishermans Beach - the quieter, locally loved stretch favoured by paddleboarders, swimmers and dog walkers.

The Mornington Foreshore and Coastal Walk links these beaches via one of Victoria's most picturesque clifftop trails - an everyday luxury that residents quickly take for granted.

Just a short stroll or quick drive away, Main Street Mornington is consistently ranked among Victoria's premier village shopping and dining strips. The tree-lined boulevard hums with destination cafes, wine bars, boutique fashion, fresh produce grocers, day spas and weekend markets. Favourites within easy reach include the Mornington Farmers' Market, Commonfolk Coffee, Via Boffe and a deep bench of long-running family restaurants.
For everyday needs, Mornington Central and Bentons Square Shopping Centre cover the major supermarkets, fashion, services and specialty retailers - meaning a weekly grocery run never requires leaving the township.

Schools, Services and Community
Mornington offers a complete schooling ecosystem from prep through to Year 12:
*Primary: Mornington Primary School, Mornington Park Primary, Benton Junior College
*Secondary: Mornington Secondary College, Padua College (independent Catholic, multi-campus)
*Specialist & Early Years: Mornington Special Developmental School and a strong network of childcare and kindergarten providers

Connected to Melbourne, Removed from the Rush
Despite its holiday-town feel, Mornington is genuinely commutable. Peninsula Link and the Mornington Peninsula Freeway provide a clean run to EastLink and the wider Melbourne motorway.

Property History for 10 Rainbow Pl, Mornington, VIC 3931

A timeline of how this property has performed in the market
Last Sold
$724,000
28 Apr 2016
Listed for Rent
$550/w
20 Mar 2017
  • 29 May 2026
    Listed for Sale $780,000 - $830,000
  • 16 Feb 2017
    Listed for Rent - Price not available
  • 28 Apr 2016
    Sold for $724,000
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About Mornington 3931

The size of Mornington is approximately 21.3 square kilometres. There are 58 parks, covering nearly 13.4% of the total area. The population of Mornington in 2016 was 23989 people. By 2021 the population was 25759 showing a population growth of 7.4% in the area during that time. The predominant age group in Mornington is 70-79 years. Households in Mornington are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mornington work in a professional occupation.In 2021, 73.30% of the homes in Mornington were owner-occupied compared with 71.60% in 2016.

Mornington has 15,853 properties. Over the last 5 years, Houses in Mornington have seen a -6.51% decrease in median value, while Units have seen a 2.16% increase. As at 31 August 2026:

  • The median value for Houses in Mornington is $1,108,841 while the median value for Units is $780,355.
  • Houses have a median rent of $755 while Units have a median rent of $625.
There are currently 34 properties listed for sale, and 12 properties listed for rent in Mornington on OnTheHouse. According to Cotality's data, 644 properties were sold in the past 12 months in Mornington.

Suburb Insights for Mornington 3931

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Cotality Copyright and Legal Disclaimers about Property Data
Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.