Back 23 Caldwell Road
Off Market

23 Caldwell Road

Dromana VIC 3936

4
2
2
840 m²
House
Last sold for $965,000
Joe FalzonJoe Falzon, last sold this property on 21 March 2026 after 24 days on market.

Overview

Expansive Corner Allotment with Spectacular Water Views

Elevated above the township with sweeping bay vistas, this substantial dual-level home captures a breathtaking panorama that stretches from Safety Beach and Mount Martha through to Arthurs Seat. From the expansive wraparound deck, the outlook takes in glistening water by day and a sparkling sea of lights by night, creating a spectacular backdrop for everyday living and unforgettable summer entertaining. Set on an impressive 839sqm (approx) corner allotment with broad street frontages and a striking sense of space, the property offers immense potential for renovation, extension or a luxury new home rebuild, subject to council approval. The existing residence is solid and generously proportioned, with a light-filled upper level oriented to the view, extensive glazing and sliding doors opening directly to the deck, and a warm mix of timber floors and feature brickwork that hint at a classic coastal style ready to be reimagined. The main living domain occupies the entire upper floor, where an open-plan kitchen, dining and lounge zone flows seamlessly to the deck for effortless indoor-outdoor living. A wood heater and split-system air-conditioning keep the space comfortable year round, while the family-sized kitchen provides abundant storage and bench space, a wall oven and dishwasher, offering an immediately functional environment with clear scope to modernise. Adjoining this level, the main bedroom enjoys its own deck access, walk-in robe and a spacious semi-ensuite bathroom with spa, making it a peaceful retreat positioned to soak in the view. On the lower level, three additional bedrooms are serviced by a second bathroom, providing ample accommodation for family and guests. A large games room with bar opens to the garden and covered areas beneath the deck, creating a fun second living zone or teen retreat that can evolve with changing needs. The layout lends itself beautifully to a future dual-occupation or Airbnb-style configuration, subject to approvals, with separate entry points and good separation between floors. Outside, the gently sloping block is dotted with established trees and open lawn, delivering a private, leafy setting that frames the water outlook while still leaving plenty of room for landscaping, a pool or further extensions if desired. A substantial freestanding double garage provides secure parking and storage for beach gear, tools or trade equipment, and there is additional off-street parking available thanks to the wide corner position. The location is ideal for those seeking the perfect balance between hillside tranquility and everyday convenience, with Dromana Primary School, the shopping centre, cafes, foreshore and safe swimming beaches all within easy reach down the hill. Arthurs Seat State Park and surrounding bushland walking tracks are moments away, offering weekend adventures and a peaceful natural buffer that enhances the property's sense of escape. Brimming with potential and blessed with one of the area's most captivating outlooks, this much-loved coastal home is ready for its next chapter, inviting renovators, families, holiday-makers and visionaries to unlock the full value of its commanding position and generous landholding.

Features

4 bedrooms
2 bathrooms
2 carspaces
840 m² lot size
House

Estimated Value

Based on this property and similar 4 bedroom houses sold in Dromana over the last 12 months, the estimated median property value of 23 Caldwell Road is $1.18m.

Median value
$1.18m
Estimated value range
$680k - $2.8m
Median days on market
46
Estimated value trend
3%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Dromana. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 23 Caldwell Road

2026
Sold
$965,000
Auction Sale on 21 Mar 2026 by Joe Falzon, of Stockdale & Leggo Rye

Happy sellers in Dromana

66%
66% of sellers in Dromana reported that their sale price either exceeded or met their price expectations.

Dromana stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 28 reviews in Dromana over the last 12 months.

Local market activity for 4 bedroom houses in Dromana

In the last 12 months, 45 four-bedroom houses similar to 23 Caldwell Road, have been sold.

This represents a 20% increase in four-bedroom houses sales when compared to the previous 12 months.

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