House for under $300,000: Oxley St, Sunbury home sold for $292,000

A MELBOURNE suburb has just recorded the sale of an updated, three-bedroom house for less than $300,000. Find out which one it was.

23 Oxley St, Sunbury, sold to an investor for $292,000.

A rare offering in Sunbury priced below $300,000 has been snapped up by an investor from out-of-town.

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The three-bedroom house at 23 Oxley St, priced at $250,000 to $275,000 was secured in less than a week for $292,000.

“It didn’t even make it to the first open,” Raine & Horne Sunbury’s Haydn Drummer said.

It was the strong interest in the home that drove up the price, according to Mr Drummer.

The house was freshly painted and featured an updated kitchen and bathroom, he said.

“It was on a corner allotment in a central location with potential for a dual occupancy,” he said.

“At that price point, it was perfect for a first-home buyer or investor.”

Mr Drummer estimated the property will generate a rental return of about $290 a week.

The latest CoreLogic results show the median house price in Sunbury has lifted 6.1 per cent over the past 12 months to $385,560. The gross rental yield is 4.5 per cent.

Originally published as House for under $300,000: Oxley St, Sunbury home sold for $292,000