Cheap Subdivisible Investments in Frankston?

The current median in Frankston is $370,000. According to Domain, there are 125 houses for sale right now. Some have dual occ potential and are looking very cheap, selling well below the median. Many of these gems are subdivisible, I am told, and one can often retain the front home and build at the rear.

My bank will only allow me to pick up one more, if that. What are your views on the links below? How far are these from the beach? Are these houses selling well below the market for a reason? Is it a case of an uninformed vendor selling at well below the market price? Or is there something wrong with the houses?

http://www.domain.com.au/Property/For-Sale/House/VIC/Frankston/?adid=2008490171 Am i dreaming here or is the salesman up to some funny business? $240,000 is unbelievably cheap. The block is kinda small and cannot be developed.

http://usre.net.au/property/details/65
Again, is the sales agent up to shennigans? This is well below the current median. At $270,000 this is a steal for a subdivisible block. If true, unbelievable value.

http://www.domain.com.au/Property/For-Sale/House/VIC/Frankston/?adid=2008457843 Another cheap one.
 
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