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1/10 Parer Street, Frankston$575,000

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1/10 Parer Street

Frankston, VIC 3199, Australia

$550,000 – $600,000

2 bed 1 bath 1 car223 m²

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Listing description

About this property

Positioned at the front of just two and offering the rare bonus of no body corporate, this exceptionally neat and well-maintained unit delivers low-maintenance living in a location that truly does the heavy lifting. Comprising two comfortable bedrooms, a central bathroom, and a secure lock-up garage, the home is perfectly suited to downsizers seeking simplicity, first home buyers entering the market, or investors chasing a smart, set-and-forget addition to their portfolio. The interior presents beautifully, with a sense of order and care that makes moving in or leasing out feel refreshingly straightforward. Currently tenanted on a month to month basis at $400 per week, it offers immediate return with future flexibility. Step outside and you're only a short stroll to Beach Street shops, where cafés, essentials, and a touch of seaside charm are always within reach. And of course, the beach itself is close enough to become part of your daily rhythm. A tidy package in a tightly held pocket, this is easy living with a coastal heartbeat.

Property Details

Property Type: apartment
Listing Type: For Sale
Bedrooms: 2
Bathrooms: 1
Parking: 1
Land Area: 223 m²
Listed: 2 months ago

Repayment calculator

$2,788/month

$1,394 /fortnight

Loan $460,000 at 6.10% over 30 years

Upfront costs

Deposit$115,000

Stamp duty$29,570

Conveyancing (est.)$2,000

Total upfront$146,570

Verify with VIC revenue office →

Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Frankston

This 2-bedroom apartment in Frankston, VIC 3199 sits within reach of public transport, local shops and nearby schools. It is listed 30% below the $822,500 median of 54 comparable apartmentswithin 5 km.

Schools near Frankston

Frankston Special Developmental Schoolcombined · U · CoEd
Ballam Park Primary Schoolprimary · Prep-6 · CoEd
Frankston East Primary Schoolprimary · Prep-6 · CoEd
Frankston Heights Primary Schoolprimary · Prep-6 · CoEd
Frankston Primary Schoolprimary · Prep-6 · CoEd
Karingal Heights Primary Schoolprimary · Prep-6 · CoEd

What's nearby

Frankston Station, platform 2 (train) — 1.2 km away
Tyrepower — 1.0 km away
Unnamed — 660 m away
Wingham Park — 1.1 km away
Orwil Street Reserve — 1.1 km away

Frankston at a glance

Full suburb profile

Population: 37,331
Median age: 39
Household income: $1,387/wk
Median rent: $342/wk
Median mortgage: $1,733/mo

Source: ABS Census.

Due diligence

Property Report

Lifestyle & access

Schools

7 nearby schools

Catchment: Frankston Primary School

Public transport

10 stops within 1.5km

Nearest: Unnamed stop (0.2km)

Traffic

Moderate congestion

Morning peak (7-9am) and afternoon peak (4-6pm) see increased traffic on Nepean Highway and Frankston-Dandenong Road. Local streets like Parer Street experience light to moderate congestion as residents commute to employment centers.

Noise

Moderate noise

Nearest: road (0.3km)

Risk & safety

Flood risk

Medium

Frankston experiences medium flood risk primarily from Kananook Creek inundation and localised stormwater flooding, with some coastal vulnerability to Port Phillip Bay flooding and storm surge. Large areas fall within LSIO and parts within SFO, requiring careful site assessment and flood-aware design for new development or redevelopment. Historical flooding events in the catchment and ongoing urbanisation mean planners should verify overlay status and floor-level requirements for individual properties.

Bushfire risk

Low

BAL: BAL-LOW

Crime profile

above average

Trend: stable

Planning & context

Zoning

GRZ1 — General Residential Zone - Schedule 1

Frankston Planning Scheme

Nearby development

6 projects nearby

Frankston is experiencing moderate development activity focused on waterfront renewal, CBD intensification and suburban infill, supported by rail accessibility and healthcare investment. The municipality is pursuing housing diversity within established precincts whilst managing heritage considerations in the central business district. Key drivers include population growth in the southern corridor, state government infrastructure funding and strategic planning for urban consolidation.

Heritage

Heritage listed

Frankston's town centre contains several locally and state-significant heritage items dating from the late 19th and early 20th centuries, particularly around the railway precinct and waterfront. The suburb has heritage overlays affecting the CBD and selected residential areas, with conservation requirements for the historic commercial core and some residential heritage character areas. Most outer residential areas of Frankston are post-war suburban development with minimal heritage overlay.

Sources: Australian Gov open data, OpenStreetMap + StMate AI

Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

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