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This. Good work on sticking to your guns, and if you calculated $550k is it's value move on. Absolutely, nearly $100k too high IMO

Spot on. Who cares if you're renting. I'd suggest visiting the suburb and working out how much you can hear. Looking at runway orientations, I'd suggest it'd be OK for noise. At least he's planning on dividing and developing, which should bring the developed places closer to median. Having...

Search realestate.com.au for comparable sales (similar blocks, similar fit-outs), but if I had to guess I'd say it would sell outside your budget (not I've done no research). It's a big block, a nice house in good condition. You'll need to know expected rental yield as part of your due diligence.