67 Phillips Street, COBURG VIC 3058
Development Feasibility Analysis in Coburg, VIC
NRZ1 zoning on this 395 sqm Coburg site limits development to a duplex, and the project is unprofitable. Two dwellings at $1,062,000 each produce $2,124,000 in revenue, but total costs of $2,603,946 result in a loss of $479,946 at -18.4%. Coburg's median house of $1,180,000 indicates the sale price benchmark is realistic, but land at $942,000 on a small site makes the duplex format unworkable.
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Frequently Asked Questions
Is the duplex at 67 Phillips Street financially viable?
No. Net loss is $479,946 at -18.4% margin on total costs of $2,603,946.
What is the Coburg median house price and how does it relate to sale value?
Coburg's median house is $1,180,000. The $1,062,000 per dwelling benchmark is set at 90% of median, reflecting townhouse versus house pricing.
Why is the duplex unprofitable despite realistic sale values?
Land at $942,000 for a 395 sqm site is high relative to the two-dwelling revenue cap. Total costs of $2,603,946 cannot be covered by $2,124,000 in revenue.
What zone applies here?
NRZ1 (Neighbourhood Residential Zone 1), which limits most lots to two dwellings.
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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).