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Back 78 Observation Dr
Off Market

78 Observation Dr

Rye VIC 3941

5
3
4
0 m²
901 m²
House
Last sold for $1,500,000
Ben KenyonBen Kenyon, last sold this property on 16 April 2026 after 94 days on market.

Overview

Coastal Treetop Sanctuary with Bay Views

Bathed in northerly light and gazing out across the treetops to the ever‑changing blues of the bay, this contemporary coastal retreat delivers the ultimate Peninsula lifestyle for permanent living or luxurious holidays. A sweeping open plan upper level forms the heart of the home, where a vast living and dining domain flows to a covered alfresco terrace, inviting you to slide back the doors and blend relaxed indoor comfort with effortless outdoor entertaining. High ceilings, warm timber floors and a soft neutral palette create an easy, modern ambience, while feature windows frame the leafy outlook and sparkling water beyond. Designed with both comfort and sustainability in mind, the home showcases double glazing throughout, a 6.6kW solar system, a Tesla EV charger and a heat pump hot water system that draws on solar energy to further reduce running costs and environmental impact. The sleek stone‑topped kitchen is perfectly appointed for hosting a crowd, complete with broad island bench, breakfast bar seating, quality appliances and excellent storage, all oriented to stay connected with family and guests. Multiple living areas across both levels ensure space and flexibility for all ages, with a lower lounge opening directly to the deck and pool for kids' hangouts, movie nights or a peaceful retreat. Generous accommodation includes a privately zoned main bedroom with its own balcony access and tranquil outlook through the treetops, while additional queen‑sized bedrooms, each with big windows and ceiling fans, comfortably cater for extended family and friends. Resort‑style outdoor spaces make this property stand out, with a series of expansive decks stepping down to the glass‑fenced, solar‑heated pool set amid established coastal gardens. There is abundant room for sun lounges, long lunches and sunset drinks, complemented by an outdoor shower, multiple sitting zones and a dedicated barbecue area that keeps summer living blissfully simple. The large, gently sloping block provides excellent privacy and a wonderful sense of seclusion, with ample off‑street parking and scope for storing boats or water toys to maximise your time on the bay. Set high on the hill in a tightly held pocket surrounded by quality homes, the property enjoys spectacular views across the canopy to passing ships and the sparkling shoreline, while still being conveniently close to bay beaches, the pier, cafés and everything that makes the area so sought after. From sunrise coffees on the deck to golden‑hour swims and evenings watching the lights twinkle across the valley, this beautifully presented home is ready to enjoy from day one and promises an unforgettable coastal lifestyle.

Features

5 bedrooms
3 bathrooms
4 carspaces
2 carport spaces
2 open car spaces
0 m² floor area
901 m² lot size
House

Estimated Value

Based on this property and similar 5 bedroom houses sold in Rye over the last 12 months, the estimated median property value of 78 Observation Dr is $1.35m.

Median value
$1.35m
Estimated value range
$835k - $3.35m
Median days on market
77
Estimated value trend
37%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Rye. 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 78 Observation Dr

2026
Sold
$1,500,000
16 Apr 2026 by Ben Kenyon, of Stockdale & Leggo Rye
2018
Sold
Undisclosed
15 Apr 2018 by Liza Milchman, of Hodges Rye

Happy sellers in Rye

79%
79% of sellers in Rye reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 71 reviews in Rye over the last 12 months.

Local market activity for 5 bedroom houses in Rye

In the last 12 months, 22 five-bedroom houses similar to 78 Observation Dr, have been sold.

This represents a 27% increase in five-bedroom houses sales when compared to the previous 12 months.

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Rye

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Michael Prentice

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Sam Crowder

Sellers who recommend Sam Crowder have praised them for being local expert, clear communication, honest, responsive, friendly, supportive and reliable

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Toni Katsivelas

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  •   5   (52 reviews)
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Michael Christodoulou

Sellers who recommend Michael Christodoulou have praised them for being local expert, clear communication, honest, responsive, reliable, supportive and friendly

  •   4.9   (220 reviews)
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