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

78 Observation Drive
Rye VIC 3941

Bedrooms: 4
Bathrooms: 3
Car spaces: 2
Floor area: 216m2
Land area: 901m2
Estimated Value & Rent
Estimated Value
Estimated Rent
Confidence
Last updated 2 Mar 2026
Low

High
Save

Property Details for 78 Observation Dr, Rye

78 Observation Dr, Rye is a 4 bedroom, 3 bathroom House with 2 parking spaces and was built in 2005. The property has a land size of 901m2 and floor size of 216m2. While the property is not currently for sale or for rent, it was last sold in April 2018.

Building Type
House
Year Built
2005
Floor Size
216m2
Land Size
901m2
Local Government
Mornington Peninsula
Lot/Plan
232/LP19188

Last Listing description (March 2026)

Bathed in northerly light and gazing out across the treetops to the everchanging blues of the bay, this contemporary coastal retreat delivers the ultimate Peninsula lifestyle for permanent living or luxurious holidays. A sweeping open plan upper level forms the heart of the home, where a vast living and dining domain flows to a covered alfresco terrace, inviting you to slide back the doors and blend relaxed indoor comfort with effortless outdoor entertaining. High ceilings, warm timber floors and a soft neutral palette create an easy, modern ambience, while feature windows frame the leafy outlook and sparkling water beyond. Designed with both comfort and sustainability in mind, the home showcases double glazing throughout, a 6.6kW solar system, a Tesla EV charger and a heat pump hot water system that draws on solar energy to further reduce running costs and environmental impact. The sleek stonetopped kitchen is perfectly appointed for hosting a crowd, complete with broad island bench, breakfast bar seating, quality appliances and excellent storage, all oriented to stay connected with family and guests. Multiple living areas across both levels ensure space and flexibility for all ages, with a lower lounge opening directly to the deck and pool for kids' hangouts, movie nights or a peaceful retreat. Generous accommodation includes a privately zoned main bedroom with its own balcony access and tranquil outlook through the treetops, while additional queensized bedrooms, each with big windows and ceiling fans, comfortably cater for extended family and friends.Resortstyle outdoor spaces make this property stand out, with a series of expansive decks stepping down to the glassfenced, solarheated pool set amid established coastal gardens. There is abundant room for sun lounges, long lunches and sunset drinks, complemented by an outdoor shower, multiple sitting zones and a dedicated barbecue area that keeps summer living blissfully simple. The large, gently sloping block provides excellent privacy and a wonderful sense of seclusion, with ample offstreet parking and scope for storing boats or water toys to maximise your time on the bay.Set high on the hill in a tightly held pocket surrounded by quality homes, the property enjoys spectacular views across the canopy to passing ships and the sparkling shoreline, while still being conveniently close to bay beaches, the pier, cafs and everything that makes the area so sought after. From sunrise coffees on the deck to goldenhour swims and evenings watching the lights twinkle across the valley, this beautifully presented home is ready to enjoy from day one and promises an unforgettable coastal lifestyle.

Property History for 78 Observation Dr, Rye, VIC 3941

A timeline of how this property has performed in the market
Last Sold
$960,000
12 Apr 2018
  • 12 Jan 2026
    Listed for Sale $1,500,000 to $1,650,000
  • 12 Apr 2018
    Sold for $960,000
  • 12 Jan 2018
    Listed for Sale $950,000 - $980,000
Sign in to see more transactions
Commute Calculator

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 10,055 properties. Over the last 5 years, Houses in Rye have seen a 13.34% increase in median value, while Units have seen a 29.10% increase. As at 31 January 2026:

  • The median value for Houses in Rye is $1,028,941 while the median value for Units is $628,019.
  • Houses have a median rent of $600 while Units have a median rent of $493.
There are currently 67 properties listed for sale, and 6 properties listed for rent in Rye on OnTheHouse. According to Cotality's data, 351 properties were sold in the past 12 months in Rye.

Suburb Insights for Rye 3941

Market Insights
Rye Trends for Houses
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Rye Trends for Units
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Neighbourhood Insights
Age
Household
Occupancy
No data to show
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.