122 Ruskin Street ELWOOD

Comments on 122 Ruskin Street ELWOOD

Located in one of Elwood’s better streets, this family home has undergone an extensive transformation behind the unassuming original period facade. First impressions were pleasing, with a large living living/meals/kitchen area off the entrance opening onto the backyard.  The area worked really well, with quite separate areas within the open space.  I did feel that, depending on the size of lounge furniture, the sitting area was a little tight.  While this may seem picky, that is warranted at this price level. 

The kitchen is state of the art, and budding chefs would feel very comfortable cooking up a treat for family and visitors with quality appliances, fixtures and fittings. The floorplan has no surprises and has everything you would want in a modern home, with the master bedroom downstairs and two bedrooms upstairs, including a much needed second internal living space.  There is also an option for a fourth bedroom downstairs, however, there is only a powder room to service it (excluding the ensuite) and those using it would need to rely on the upstairs bathroom for showering and bathing. 

Outside is not large, but it is private, low-maintenance and in keeping with other backyard sizes in the area.  There is a genuine double garage at the rear with good lane access and a self contained studio upstairs, ideal for guests, older children or a home office. 

There is significant demand for these high spec, low-maintenance inner city homes from a growing population of cashed-up baby boomers, as well as dual income families, all looking to be close to the CBD and the beach.   

There have been two sales of homes with similar offerings, including garages and studios, this year in Ruskin Street - 54 and 92.  They both sold in the mid $2 millions, which may provide a guide to the vendor’s expectations.  With 3 bidders at both, one sold under the hammer, one passed in, selling post auction as a private sale.  

We are now post-Easter 2014 and the market may not be what it was at the start of the year.  Further research and an understanding of the market, buyer confidence levels, and the vendor's expectations will help determine where values sit for 122 Ruskin Street.