Dallas, Victoria home unsuccessful at mortgagee auction

A three bedroom, one bathroom Dallas, Victoria house was unsuccessful under the mortgagee auction hammer on June 8.

The previously updated rendered brick home came with an indicative price guide of $440,000 - $480,000.

It is now listed with an asking price of $400,000.

Andrew Butler and Anthony Monteleone of Brad Teal hold the listing.

Situated at 13 King Street, the property is described as "ideal for homebuyers looking to enter the market, renovate/extend, rebuild or redevelop (STCA)".

Set on 642 sqm, it features an undercover outdoor area and backyard as well as a one car lockup garage.

Located within a short drive from Dallas and Broadmeadows Shopping Centres, Ilim College, primary schools, buses and Hume Highway, the home features an open plan layout.

Last sold in 2005 the home transacted for $180,000.

The median price for a home in Dallas is $487,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.5%.