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5/56 Nicholson Street, Essendon$400,000
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5/56 Nicholson Street

Essendon, VIC 3040, Australia
$400,000
1 bed 1 bath 1 car55 m²

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Listing description

About this property

Expressions of Interest closing 12:00pm Tuesday 2 June 2026 (unless sold prior). One of only a handful in its boutique block where maintenance is meticulous and community is forefront, this turnkey gem proves as attractive an investment as a first home or professional's retreat, directly opposite the green expanses of Windy Hill. Staged by a quiet, leafy cul-de-sac and electric-gated security entrance, the home is a true standout in every respect. Sun streams in from the north to cover a wide-open living/dining domain, stepping out to a balcony great for an evening drink taking in greenery and sunset colours. Modern Smeg and Fisher & Paykel appliances mean a separate kitchen takes entertaining in its stride, while views of the oval, a built-in robe and ensuite/laundry all enhance a sizeable bedroom. Hardwood floors, reverse-cycle heating/cooling, intercom entry, and a secure car space all add to the appeal, while a prestige position places the best of Essendon within footsteps. Essendon Primary and PEGS Junior Boys, Essendon and Glenbervie Stations, the 59 Tram and cafés, restaurants, bars and boutiques across Napier, Fletcher and Rose Streets are all just metres away, while North Essendon Village, vibrant Puckle Street, tranquil Queens Park, St Monica's Primary and zoned Strathmore Secondary College sit nearby.

Property Details

Property Type
apartment
Listing Type
Sold
Bedrooms
1
Bathrooms
1
Parking
1
Land Area
55 m²
Listed
2 months ago

Repayment calculator

$1,939/month
$970 /fortnight
Loan $320,000 at 6.10% over 30 years

Upfront costs

Deposit$80,000
Stamp duty$19,070
Conveyancing (est.)$2,000
Total upfront$101,070
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 Essendon

This 1-bedroom apartment in Essendon, VIC 3040 sits within reach of public transport, local shops and nearby schools. It is listed 38% below the $640,000 median of 51 comparable apartmentswithin 5 km.

Schools near Essendon

  • Lowther Hall Anglican Grammar Schoolcombined · Prep-12 · Girls
  • Penleigh & Essendon Grammar School - Essendon Campuscombined
  • Aberfeldie Primary Schoolprimary · Prep-6 · CoEd
  • Essendon Primary Schoolprimary · Prep-6 · CoEd
  • Buckley Park Collegesecondary · 7-12 · CoEd
  • Islamic College of Sport - North Campussecondary

What's nearby

  • Glenbervie 1 (train)487 m away
  • GoodYear Auto Care415 m away
  • Unnamed593 m away
  • Five Mile Creek Reserve667 m away
  • Cliff Allison Park668 m away

Essendon at a glance

Full suburb profile
Population
21,240
Median age
39
Household income
$2,132/wk
Median rent
$380/wk
Median mortgage
$2,275/mo

Source: ABS Census.

Due diligence

Property Report

Flood Risk

Complete
Medium flood risk

None

Low

Medium

High

Flood zone

Land Subject to Inundation Overlay (LSIO) / Scattered SBO coverage

Essendon has medium flood risk due to its location within the Yarra River catchment and proximity to stormwater discharge areas. Parts of the suburb fall within LSIO and scattered Shown Buildings Overlay (SBO) zones reflecting historical inundation from overland flows and drainage congestion. Planners should verify specific parcel flood mapping and consult Melbourne Water before development.

Planning controls

  • Development in LSIO areas requires demonstration of flood compatibility and no net flood risk increase
  • Floor levels and finished surface levels must be set above the 1% AEP flood level plus freeboard
  • Flood-sensitive uses (schools, aged care, emergency services) face stricter constraints in overlay zones
  • Stormwater management and detention basin design required to address local drainage impacts
Source: StMate AI — VIC flood overlays06/05/2026
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.

Suburb market

Suburb price trend

Essendon price trend

Median sold · Unit 1 bed

Compound growth +0.5% / yr over 4 yrs

$350kcurrent median

Suburb-wide medians from sold listings — a guide to the area, not this specific property.

Full Essendon market

This listing

Price history

Price history

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Within 5km

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