Clayton- on dandenong road good idea

I'm looking at getting a house on dandenong road (service road) and it is on a corner block. the house is being offered to me privatly. what are the big disadvantages. the fact that it is right next to monash university might lower the negativity of being on a major road ???
Well as its on a main road you'll never get the same price as an equivalent property in a quieter street around the corner - but that doesn't mean it isn't a good investment. Depending on the size of the property you can rent it out to students easily and if you pay a good price your return will be very high. So in other words, do a quick calculation and research into how much you can rent out the house for, and see what price to pay in order to keep that high yield. I think you need more than 4% because Clayton/Caulfield aren't the best suburbs compared to other university suburbs like carlton/parkville.

And by the way - the peak season for students to seek accommodation is around January/February so if you're only going to settle the property in a few months time you may have missed the opportunity to rent it out to students for a better yield than renting it to a family.
Most of the Dandenong Rd, Clayton, lots are deep, subdivision, strata units, are possibilities. I lived there, and didnt notice the sound, of course my prior residence was across a parade ground form First Armoured Regiment, so I did not notice the trains going to Geelong when I lived at Laverton Station either
There's some great development opportunities in the type of area you have described. The main road and the proximity to the university will often mean there is flexible town planning. Even if you are not the developing type this may be an advantage later (at sale time) or you could even consider carrying out the necessary town planning work, get yourself a TPP for units or apartments and sell to a builder/developer.