74 Observation Drive, Rye, VIC 3941 | Property Value & History | OnTheHouse
OFF MARKET

74 Observation Drive
Rye VIC 3941

Bedrooms: 4
Bathrooms: 2
Car spaces: 2
Land area: 753m2
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Property Details for 74 Observation Dr, Rye

74 Observation Dr, Rye is a 4 bedroom, 2 bathroom House with 2 parking spaces. The property has a land size of 753m2. While the property is not currently for sale or for rent, it was last sold in November 2019.

Building Type
House
Land Size
753m2
Local Government
Mornington Peninsula
Lot/Plan
230/LP19188

Last Listing description (September 2024)

Defined by a sensational blend of natural aesthetic and designer style, this striking home is an elite offering. Meticulously crafted to capture the coastal elements of the surrounding landscape, this mid-century inspired abode offers a life of luxury and leisure close to the foreshore, village, golf courses and hot springs. Effortlessly sleek and sophisticated with a warm and inviting ambience, the visually arresting residence features, a Silvertop Ash, stone and rendered brick facade, soaring four metre, plywood clad ceilings, engineered oak floors, stone benchtops, extensive double glazing, broad stackable industrial grade sliding doors, wide Merbau decks and an open, highly functional floorplan. The property is split into two modules: a communal living zone with alfresco terrace connection and adjoining master suite along with a guest/children's wing comprising a second lounge and deck, deluxe bathroom and three bedrooms with built-in robes. In the design process, considerations have been given to facilitating large family gatherings and seamless entertaining while also providing private quarters for retreat and relaxation. Additional inclusions: ducted heating/cooling, gas log fire, butler's pantry, double ovens, induction cooktop, bespoke cabinetry, concealed bar with wine fridge, two powder rooms, skylights, clerestory and double hung windows, VJ wall panelling, motorised linen curtains, double lock-up garage with storage space, parking bay and native landscaping.

Property History for 74 Observation Dr, Rye, VIC 3941

A timeline of how this property has performed in the market
Last Sold
$545,000
16 Nov 2019
Listed for Rent
$260/w
24 Dec 2014
  • 17 Feb 2026
    Listed for Sale Private Sale | $2,200,000 - $2,400,000
  • 06 Sep 2024
    Listed for Sale $2,500,000 - $2,700,000
  • 16 Nov 2019
    Sold for $545,000
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About Rye 3941

The size of Rye is approximately 17.7 square kilometres. It has 16 parks covering nearly 14.3% of total area. The population of Rye in 2016 was 8416 people. By 2021 the population was 9438 showing a population growth of 12.1% in the area during that time. The predominant age group in Rye is 60-69 years. Households in Rye are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Rye work in a trades occupation.In 2021, 75.40% of the homes in Rye were owner-occupied compared with 71.60% in 2016.

Rye has 10,058 properties. Over the last 5 years, Houses in Rye have seen a 8.39% increase in median value, while Units have seen a 14.03% increase. As at 28 February 2026:

  • The median value for Houses in Rye is $1,019,442 while the median value for Units is $630,850.
  • Houses have a median rent of $600 while Units have a median rent of $510.
There are currently 73 properties listed for sale, and 5 properties listed for rent in Rye on OnTheHouse. According to Cotality's data, 343 properties were sold in the past 12 months in Rye.

Suburb Insights for Rye 3941

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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.