424/80 Cheltenham Road, Dandenong, Vic 3175
$390,000 to $429,000
2 2 1
Open Saturday 18 July 1:45 pmOriginally a timber and farming region, Dandenong evolved into a major manufacturing and industrial hub post-WWII. It served as the 'gateway to Gippsland' and became a designated satellite city in the 1950s to manage Melbourne's growth.
Today, it is one of Melbourne's most culturally diverse suburbs, functioning as a secondary CBD with high-density commercial, retail, and residential integration.
How this suburb feels day-to-day.
Dominant dwelling stock.
Typical entry to ceiling.
Dandenong acts as the economic engine of the southeast. For buyers, it represents a strategic 'buy-low' opportunity in a location that the state government is committed to transforming into a second CBD.
$680k – $880k
$350k – $520k
12-month movement
Current asking rents
The price gap between houses and units is widening, suggesting land value in residential pockets is outperforming the high-supply apartment market.
Price comparison
Median price ÷ median income
Estimated rental yield
Dandenong remains one of the few suburbs where a dual-income family can comfortably service a mortgage on a detached house within a major activity centre.
Lower = tighter market
Avg time on market
Annual rental increase
New migrants, healthcare workers, and TAFE students.
Strong cash flow potential due to high yields and low vacancies. Capital growth is slower but supported by long-term rezoning potential in the CBD fringe.
Moderate growth expected as the suburb transitions from an industrial service centre to a modern professional hub, though social issues will remain a drag on premium price growth.
vs last 12 months
Relative comparison
Prioritize properties with secure off-street parking and modern security systems. Avoid streets immediately adjacent to the railway station after dark.
Primary risks involve social safety and localized flooding near the Dandenong Creek catchment.
Moderate risk; Land Subject to Inundation Overlay (LSIO) applies to properties near Dandenong Creek.
Low risk; predominantly urban and industrial landscape.
Potentially higher premiums for theft and flood cover in specific zones.
LSIO (Flood), DDO (Design and Development Overlay for height limits)
Central Dandenong core and the 'Metro Village' precinct.
High-density zoning allows for significant future development, which can protect land value but may lead to loss of privacy for existing low-rise homes.
Excellent; major rail hub and bus terminal with easy EastLink access.
Very High; walk to major shopping, cinemas, and diverse dining.
Average; Dandenong Park is large, but green space is limited in the CBD core.
Moderate; Dandenong High School is a major provider; several primary schools nearby.
Exceptional; Dandenong Hospital is a major tertiary referral hospital.
A young, highly diverse population with a significant proportion of multi-generational households.
The high rental population and young median age drive the demand for apartments and townhouses over large family estates.
The Revitalising Central Dandenong project continues to be the primary driver of change.
Residents value the convenience and food culture but express consistent frustration with safety and the 'gritty' nature of the CBD.
The food here is the best in Melbourne, and I can walk to everything I need.
Great for getting to work on the train, but I don't feel comfortable walking home from the station late at night.
Yields are excellent and I never have a vacancy for more than a week.
We are looking to move to Keysborough soon because we want better school options for our kids.
The council is really trying to improve the area, and the new offices are bringing in more customers.
It's much busier and more crowded than it used to be, but the market is still wonderful.
Position the property as a 'strategic urban asset' within a state-significant activity centre, emphasizing the walkability and future infrastructure upside.
High-yield play with long-term capital growth potential through rezoning.
Higher tenant turnover and potential for property damage in lower-socioeconomic pockets.
Unbeatable access to cheap fresh food and public transport.
Noise from the train line and busy main roads.
Strict adherence to gas and electrical safety checks every two years is mandatory and heavily enforced in this council area.
The 'Second CBD' narrative and the 'Market Lifestyle' are the strongest selling points.
First home buyers, multi-generational families, and yield-focused investors.
This report is for informational purposes only and does not constitute financial or legal advice. Data is based on projections and available records as of March 2026. Buyers should conduct their own independent due diligence.
Now
Before
$390,000 to $429,000
2 2 1
Open Saturday 18 July 1:45 pmReal Search makes searching for your new home easy with properties for sale in Dandenong VIC 3175 and properties for rent in Dandenong VIC 3175. Are you looking for specific type of property? Real Search has units for sale in Dandenong VIC 3175 and houses for sale in Dandenong VIC 3175. Real Search also provides 1 bedroom unit for sale in Dandenong VIC 3175, 2 bedroom unit for sale in Dandenong VIC 3175 & 3 bedroom unit for sale in Dandenong VIC 3175. Find best real estate agents in Dandenong VIC 3175. You can also check real estate agencies in Dandenong VIC 3175. Research the property market of Dandenong VIC 3175 with a property report and suburb profile report on Real Search.