2 Mena Avenue, CHELTENHAM VIC 3192
Development Feasibility Analysis in Cheltenham, VIC
NRZ7 zoning on this 735 sqm Cheltenham site restricts development to a duplex, and the project is unprofitable. Two dwellings at $1,048,500 each produce $2,097,000 in revenue, but total costs of $2,499,411 result in a loss of $402,411 at -16.1%. Land at $696,000 and limited yield are the primary constraints.
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Frequently Asked Questions
Is the duplex at 2 Mena Avenue financially viable?
No. Net loss is $402,411 at -16.1% margin on total costs of $2,499,411.
What zone applies to this site?
NRZ7 (Neighbourhood Residential Zone 7), which limits development to two dwellings on most residential lots.
What is the sale price per dwelling in Cheltenham?
$1,048,500 per dwelling. Two dwellings produce $2,097,000 in total revenue.
What would make a duplex viable in Cheltenham?
The breakeven land price is approximately $293,000 lower, around $403,000. Current land at $696,000 does not support the two-dwelling format at $1,048,500 per unit.
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DISCLAIMER: This analysis is generated by automated algorithms for informational purposes only. It does not constitute financial, investment, or legal advice. Actual development costs, revenues, and returns may vary significantly from these estimates. Users should consult qualified professionals including a registered quantity surveyor, accredited town planner, and solicitor before making any investment decisions. DA Leads Australia Pty Ltd holds no Australian Financial Services Licence (AFSL) and is not authorised to provide financial product advice under the Corporations Act 2001 (Cth).