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i'm not sure which one you are looking at in sunshine - i pretty much know all of them for sale, but basically, the current rule is this: - if you can buy a rentable house with a big enough block for development at back under 450K, then you are getting a very good deal (for the current market)...

personally i think Reservoir is about to go BOOM,...if it hasn't already. Anything west of High street is very very expensive. Sunshine went boom and flattened out ever since around 2011, i think it ain't too bad and its definitely developing. With your budget you may get something semi run...