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1 GULLS WAY SORRENTO VIC 3943

HOUSE FOR SALE

$1,850,000

Estimated Valuation

1 GULLS WAY SORRENTO VIC 3943 Property Photo
Bedrooms

4

Bathrooms

3

Car Space

2

Land Size

852 m²

Year Built

1960

Property Type

House

COMPARE LISTINGS
Added 13 hours ago
Listing Price

$1,900,000

Listed By
Marshall White - Sorrento
This late 1960s elevated sanctuary offers a rare opportunity to own a piece of the Mornington Peninsula's narrowest point with potential for dual living. Featuring original Tasmanian Oak floorboards, a modern kitchen, and extensive energy-efficient upgrades, this home combines heritage character with coastal convenience just steps from Koonya Beach.

Description

Located on the narrowest part of the Mornington Peninsula between Koonya Ocean Beach and Cameron’s Bight, this four-bedroom, three-bathroom residence offers a unique blend of heritage character and modern functionality. Built in the late 1960s, the home is designed for privacy and cross-ventilation, featuring distinct zones that create the potential for two self-contained living levels.

The interior retains its original charm with Tasmanian Oak floorboards and a marble-inlaid Jetmaster fireplace. The modern Corian kitchen is equipped with a full suite of Miele appliances, a pull-out pantry, and an appliance cabinet. The home features three connected living areas, including a huge sandstone-tiled rumpus room, providing ample space for family gatherings.

The property is situated on an elevated block with terraced rear gardens leading to a long undercover patio, offering utility for clothes drying and privacy. Extensive outdoor living includes a north-facing deck with automated café blinds and awnings. The home is fully equipped with energy-efficient features including solar panels, solar hot water, reverse cycle air conditioning, and bore water irrigation.

Security and convenience are prioritized with an alarm system, CCTV, a double carport on exposed aggregate, and a lock-up garage/workshop behind secure gates. The location is ideal for those seeking a sanctuary near the Mornington Peninsula National Park and just metres from the beach entrance.

Property Style & Condition

Overall
standard
good
Condition
Exterior
mid century modern
good
Condition
Livingroom
standard
good
Condition
Bedrooms
contemporary
good
Condition
Kitchen
modern
excellent
Condition
Bathroom
contemporary
good
Condition
Yard
landscaped
good
Condition

Key Features

Four bedrooms
Three bathrooms
Two self-contained levels potential
Original Tasmanian Oak floorboards
Modern Corian kitchen with Miele appliances
Jetmaster open fireplace
Sandstone-tiled rumpus room
North-facing deck with automated awnings
Terraced rear garden and undercover patio
Solar panels and solar hot water
Bore water irrigation system
Double carport and lock-up garage/workshop
Alarm and CCTV security
Reverse cycle air conditioning
Proximity to Koonya Ocean Beach
Near Mornington Peninsula National Park

Specifications

Property Details
Property Type House
Architectural Style mid century modern,retro,coastal
Stories 2
Parking Type carport, driveway
Construction wood frame
Windows double pane
Gas lpg gas
Internet nbn
Location & Setting
Setting suburban
Lot Position interior lot
Views ocean panoramic, forest
Waterfront oceanfront
Beach Proximity within walking distance
Nearby Amenities
Near beach
Near trails
Near parks
Near bus stop
Near shopping
Rental Information
long term rental only

Exterior

deck
timber deck
patio
covered patio
balcony
outdoor kitchen
bbq area
fenced yard
privacy fence
irrigation system
mature landscaping
garden
native garden
rainwater tank
bore water
retaining walls
driveway
double carport
workshop
security gate
solar panels
tankless water heater
rainwater collection
walking trails

Indoor

open floor plan
fireplace
hardwood floors
tile floors
kitchen island
pantry
walk in pantry
laundry room
home office
ensuite bathroom
ceiling fan
recessed lighting
sliding glass doors
built in shelving
refrigerator
oven
gas range
dishwasher
washer
dryer
heat pump
split system
alarm system
security cameras
double story
Listed on 30 Sep 2026

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    Property     SORRENTO     LGA

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SORRENTO Statistics

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Crime in suburb of Sorrento VIC

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Property Crime Chance 1 in X
State Average (Violent) 1 in 84

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  Investment Viability Engine · 2026 Tax Rules

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1 The Property

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2 Your Situation

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3 Costs & Assumptions

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Land tax (NSW)Annual holding cost on combined land value over the threshold.
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NSW 2026: nil up to $1,075,000 combined land value, then $100 + 1.6% of the excess, rising to $88,036 + 2% premium rate above $6,571,000. Computed land tax replaces the figure in section 3.
Cash buffer & risk capacityCould you survive vacancy, rate rises and repairs?
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Calculating…Verdict ?
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rent cash flow + capital gain − all costs & tax
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Comparing Common Investments ?
What this shows
Property value (grey bars, left axis) is the projected market value each year using your capital-growth assumption. The capital profit if sold line (coral, left axis) is the money you'd actually walk away with that year after repaying the loan, paying selling costs, paying CGT, and getting back the cash you put in. The rent collected line (teal, right axis) is gross annual rent received, grown at your rent-growth assumption.
What this shows
Three views of how the position evolves year by year. Property value (dashed) shows the asset growing at your capital-growth rate. Equity (coral) is value minus loan balance — how much of the property you actually own. Cumulative cash flow (teal) is the running total of all after-tax rent (positive) or top-ups (negative) you've put in since day one.
What this shows
The yearly cash position after every cost and tax effect. Green bars = positive years (the property paid you). Red bars = years you had to top it up from your pocket. This is the most honest picture of what holding the property feels like on a year-to-year basis.
What this shows
Where every dollar of the projected sale price goes. Net to you is what lands in your bank account; the rest is consumed by loan payout, selling costs and capital gains tax. The CGT slice depends on which regime applies (50% discount, indexation + 30% min tax, or a split of the two).

What this shows
How fragile your outcome is to the capital-growth assumption — the single biggest swing factor in any property forecast. Each point on the line re-runs the entire model at a different growth rate. Where the line crosses the dashed zero, that's roughly the growth rate needed just to break even over your hold period.

What this shows
The same upfront cash invested four different ways, held the same number of years. The property includes all rent, costs, tax and the final sale (after CGT and loan payout). The ASX 200 ETF compounds at its assumed total return; the gold line compounds at gold's long-run average; the inflation line is what you need to just preserve your purchasing power. Any year the property bleeds cash, that shortfall is invested in the comparison asset too (so they get the same total dollars over the life of the deal). Gains on the comparison assets are taxed under the same 2026-Budget CGT regime that applies to shares and ETFs — the transitional split (50% discount on the pre-1 Jul 2027 portion, then cost-base indexation + 30% minimum tax on the post-1 Jul 2027 portion), since non-property assets are never grandfathered.
What this shows
The full year-by-year ledger. Cash flow is pre-tax (rent minus all cash costs); tax effect is the value of any deduction or the tax bill on net profit; after-tax is the actual dollars in or out of your account that year. Cumulative is the running total.

About this model

Reflects the 2026 Federal Budget proposals (announced 12 May 2026): from 1 July 2027, negative gearing on established residential property bought after 7:30pm 12 May 2026 can only offset rental income / residential property gains (excess losses carry forward), and the 50% CGT discount is replaced by cost-base indexation plus a 30% minimum tax on the real gain accruing after 1 July 2027. The CGT change applies to all CGT assets (shares, ETFs, gold, crypto), not just property, so the comparison assets are taxed on the same basis. New builds retain full negative gearing and the choice of the 50% discount. Properties contracted on/before 12 May 2026 are grandfathered. The main residence, superannuation funds and widely-held trusts are exempt. These are proposed rules that may change in legislation. Resident tax rates 2025–26 are used (incl. 2% Medicare levy). This is general information, not financial, tax or legal advice — consult a licensed adviser before acting.
Purchase Cost Calculator

The True Cost of Buying this Property

Beyond the sale price, Australian property buyers face stamp duty, legal fees, inspections, loan charges and more. Adjust the purchase price and your state to see the full picture.

Purchase Price
$850,000
AUD
$100K $5M
Property State
Your Situation
Total Additional Costs
On top of the $850,000 purchase price in NSW
Extra Costs
$52,000
All-In Cost
$902,000
% of Price
6.1%
How these figures are calculated

Stamp Duty (Transfer Duty): Calculated using each state's 2024–25 residential transfer duty brackets for owner-occupiers. First home buyer concessions and investor surcharges are applied where selected.

Lenders Mortgage Insurance (LMI): Estimated at approximately 1.5–2.5% of the loan amount, assuming an 85% LVR. Actual LMI depends on your lender, LVR and loan size.

Conveyancing / Legal Fees: Typical range of $1,500–$3,000 covering contract review, searches and settlement. We use a mid-range estimate.

Building & Pest Inspection: Typically $400–$800 combined for a standard residential property.

Loan Application & Mortgage Registration: Includes bank application fees ($300–$600), mortgage registration (state-based, usually $150–$230) and transfer registration fees.

Council & Water Rate Adjustments: Estimated at around 0.1% of the purchase price — the buyer typically reimburses the seller for pre-paid rates.

These estimates are indicative only. Always confirm exact figures with your conveyancer, broker and the relevant state revenue office before committing to a purchase.

Mortgage Calculator

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Buyer Fees Calculator

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Disclaimer: This calculator provides estimates only based on standard published rates for 2025-26. Actual stamp duty may vary based on individual circumstances, concession eligibility, and contract dates. LMI is a rough estimate only — actual premiums vary by lender, LVR, and loan size. Always verify with your state’s revenue office and seek professional advice before purchasing.

Mortgage Affordability & Borrowing Capacity Calculator

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Disclaimer: This calculator provides an estimate only and does not constitute a quote or loan approval. Calculations are based on standard APRA guidelines (including a 3.0% interest rate assessment buffer) and 2025–26 Australian resident tax rates. Lenders may apply their own specific Household Expenditure Measure (HEM) rules, risk margins, and varying credit card assessment rates (typically 3.8% of the limit). Rental income is shaded to 80%. Always speak to a licensed mortgage broker or lender for an exact assessment.

Refinance Savings Calculator

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