Waterways at a glance
2,443
People
$1,825,000
Median sale
$732/wk
Median rent
2.09%
Suburb gross yield
Median sale from 11 recorded sales (last 12 months) — a Districts calculation.
VIC › Waterways › Portland Pl
$1,850,000
Last sold
10 May 2025
5
Bedrooms
5
Bathrooms
2
Car spaces
639 m²
Land
Districts View
Each line above is labelled. A fact is quoted from the named source, with its date. A calculation is worked out by Districts from those facts — you can check the arithmetic. An interpretation is Districts' opinion of what the evidence means, not a fact, a valuation, or advice. Anything we haven't retrieved yet is marked as missing rather than treated as a pass.
Price evidence
Last sold
$1,850,000
10 May 2025 · derived via latest_sale
Local land rate: recorded House sales in Waterways (last 5 years) with land size have a median of $2,899/m² of land (n=20). Districts calculation from recorded sales — not a valuation.
Waterways at a glance
2,443
People
$1,825,000
Median sale
$732/wk
Median rent
2.09%
Suburb gross yield
Median sale from 11 recorded sales (last 12 months) — a Districts calculation.
Vs Waterways
+1.4%
Median sale
Suburb $1,825,000
-0.03 pp
Gross yield
Suburb 2.09%
Suburb median $1,825,000 from 11 recorded sales (last 12 months) — a Districts calculation, not a portal figure.
Planning
Planning scheme
ZN
Zone
PUBLIC USE ZONE - OTHER PUBLIC USE
PUZ7
Jurisdiction
Kingston (Vic.)
Kingston (Vic.), VIC
Data unavailable
Source
Planning facts are copied from official government GIS where available. Where an official property PDF exists (VicPlan, PlanBuild), Districts stores and serves that original document. Neither is a planning certificate, survey, or advice.
Site
Terrain has not been calculated for this property yet.
Slope is calculated on a projected metric grid from a public DEM clip of the official parcel. This is not a survey, engineering, or insurance assessment.
The official layer maps a flood zone on this parcel, intersecting about 30% of it (Vicmap Planning, retrieved 31 Aug 2026). Verify the extent against the title before relying on unaffected land.
Bushfire exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Heritage listing has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Records
Events are recorded observations from public listings, kept with their source and date. Missing values are shown as unknown, never estimated.
Capital growth
VICZoned PUBLIC USE ZONE - OTHER PUBLIC USE · PUZ7 (ZN). Official parcel area about 640 m². Dual occupancy is not confirmed from the controls loaded for this lot. Two-lot subdivision looks constrained (often the rear or handle of the lot). This is a screen, not a planning certificate. Zoning and lot facts are a starting point, not proof this lot outperforms the suburb. Funded catalyst catchments are not loaded. A TOD badge is not this product.
30% of the official parcel intersects the loaded flood overlay. Layer: LAND SUBJECT TO INUNDATION OVERLAY. That is a finance, insurance, and rentability screen — distinct from whether the land can be subdivided. It is not a flood certificate or an insurer quote. Flood overlay on a material share of the lot can kill a rear-lot or battleaxe subdivision story. Minimum lot size is not loaded, so two-lot subdivision is not confirmed. Official parcel about 640 m² — land size can look like optionality. What reduces it: INCORPORATED PLAN OVERLAY - SCHEDULE 2; DESIGN AND DEVELOPMENT OVERLAY - SCHEDULE 6; LAND SUBJECT TO INUNDATION OVERLAY. Pay house money or walk — do not pay site money until a planner confirms a pathway through this stack. Victoria has no public statewide property-level DA API. Nearby pipeline is unknown.
Rental
No advertised rent is recorded. Suburb median rent $732/week — not this address. An inferred likely-rent range is not shown until official bond series are loaded for this dwelling type and bedrooms. Flood on or flagged for this lot can discount tenant demand versus a dry comparable.
Current comparable rental listings within 400 m of this lot are not loaded. Victoria has no public statewide property-level DA API. Nearby pipeline is unknown. Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded. Suburb vacancy or leased-tape days are not this property’s competition.
Yield cannot be shown without both a price and a rent figure. Net yield is not estimated from gross advertising copy. Net yield / holding costs are not estimated outside NSW without inventing land tax.
Verdict
Districts view
This looks more like a hold-as-is house than a development site. Flood on the lot is the first thing to price.
Detail
Official parcel about 640 m² — land size can look like optionality. What reduces it: INCORPORATED PLAN OVERLAY - SCHEDULE 2; DESIGN AND DEVELOPMENT OVERLAY - SCHEDULE 6; LAND SUBJECT TO INUNDATION OVERLAY. Pay house money or walk — do not pay site money until a planner confirms a pathway through this stack.
Nearby competing dwellings and net yield are still unknown.
Evidence
Districts asks the same ten questions of every property. If one shows as unknown, that data isn't published for this state or hasn't been loaded yet — the question stays visible so you can see exactly what's missing.
4 of 10 questions answered so far
Development optionality of this lot
KnownmediumZoned PUBLIC USE ZONE - OTHER PUBLIC USE · PUZ7 (ZN). Official parcel area about 640 m². Dual occupancy is not confirmed from the controls loaded for this lot. Two-lot subdivision looks constrained (often the rear or handle of the lot). This is a screen, not a planning certificate.
Nearby development pipeline
UnknownVictoria has no public statewide property-level DA API. Nearby pipeline is unknown.
Honest achievable rent
KnownlowThis is not “bond data says this address leases for $X.” The comparable figure is a suburb advertised/median rent, not this property. Official bond files (postcode or suburb × type × bedrooms) are not loaded yet.
Rental supply pressure
UnknownSupply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded.
Why is this cheap?
KnownmediumOfficial parcel about 640 m² — land size can look like optionality. What reduces it: INCORPORATED PLAN OVERLAY - SCHEDULE 2; DESIGN AND DEVELOPMENT OVERLAY - SCHEDULE 6; LAND SUBJECT TO INUNDATION OVERLAY. Pay house money or walk — do not pay site money until a planner confirms a pathway through this stack.
Lot-level flood
Knownmedium30% of the official parcel intersects the loaded flood overlay. Layer: LAND SUBJECT TO INUNDATION OVERLAY. That is a finance, insurance, and rentability screen — distinct from whether the land can be subdivided. It is not a flood certificate or an insurer quote.
Catalyst exposure
UnknownFunded catalyst catchments are not loaded. A TOD badge is not this product.
This lot's DA history
UnknownNo DA adapter returned applications for this parcel.
Statutory land value versus ask
UnknownStatutory land value is not available as free bulk data in this jurisdiction. Do not fake it with a suburb median.
Net yield / holding costs
UnknownNet yield / holding costs are not estimated outside NSW without inventing land tax.
Area
Waterways at a glance
2,443
People
$1,825,000
Median sale
$732/wk
Median rent
2.09%
Suburb gross yield
Median sale from 11 recorded sales (last 12 months) — a Districts calculation.
Listing material
Listed by Area Specialist VictoriaIt's Addressed:
Backing directly onto Waterways Lake in one of the south-east’s most prestigious and tightly held pockets, this exceptional double-storey residence offers nearly 50 squares of living space, an entertainer’s floorplan and breathtaking lakefront views.
The home is positioned on a generous 638sqm block in the heart of an exclusive estate, just minutes from the Mornington Peninsula Freeway, Braeside Park, Haileybury College and a range of elite golf clubs. Beachside Mordialloc College is the catchment school, while the cafes and dining strip along Aspendale Beach is less than ten minutes away.
Architecturally, the home reflects a modernist style with clean geometric lines and neutral rendered finishes. The standout feature is a balcony structure clad in multi-tone natural stone tiles, creating a visual contrast against the smooth charcoal and taupe surfaces. A wide paved driveway leads to a double lock-up garage with a flush panel door. Low-maintenance landscaping with synthetic turf, river pebbles and feature roses completes the impressive street appeal.
Step through a formal entry highlighted by a coffered ceiling and stacker stone wall, and you’ll find a grand and flexible layout ideal for large or multi-generational families. The ground floor features a master suite with his and hers walk-in robes, a private retreat and a luxurious ensuite with dual vanities and a spa bath. The formal lounge boasts a gas fireplace with open hearth, plush carpet and plantation shutters. Additional spaces include a separate study or potential sixth bedroom, a rumpus room and an open-plan living and dining zone that enjoys sweeping views across the lake.
At the heart of the home is a true entertainer’s kitchen featuring 40mm stone benchtops, a wraparound island with breakfast bar seating and mahogany timber shaker-style cabinetry with glass display cupboards. A 900mm freestanding Blanco oven with gas cooktop, glass gourmet rangehood and extensive storage complete the kitchen’s impressive fit-out.
The timber staircase rises beneath a glamorous pendant light to a spacious upper level with an IT nook and a dedicated games room, perfect for teenagers or guests. Upstairs bedrooms are all generously sized with ample storage, while the total of five bathrooms ensures convenience across both levels. Decorative cornices, high ceilings, under-stair storage, LED downlights and luxurious timber hardwood flooring enhance the home’s style and functionality.
Glass bifold doors open to a tiled alfresco area that overlooks the water and is perfect for entertaining year-round. The outdoor zone includes water tanks, solar panels and a serene backdrop that few properties can match. There are five bedrooms in total, all boasting walk-in robe storage and decadent ensuites. The front-facing guest suite vaunts its own private balcony.
Contact us for a priority inspection today.
Property Highlights
Prime 638sqm lakefront block with stunning water views
Five bedrooms plus study or sixth, five bathrooms and four living zones
Master suite with spa ensuite, walk-in robes and retreat
Designer kitchen with Blanco appliances and butler’s-style fit-out
Alfresco entertaining, double garage, solar panels and refrigerated ducted climate control
For more Real Estate in Waterways contact your Area Specialist.[Text Wrapping Break]
Note: Every care has been taken to verify the accuracy of the details in this advertisement, however, we cannot guarantee its correctness. Prospective purchasers are requested to take such action as is necessary, to satisfy themselves with any pertinent matters.
Listing description written by Laura Voinea, Area Specialist Victoria — reproduced as published, not verified by Districts.