Dallas, Victoria home sold for $90,000 below asking price at mortgagee auction

A three bedroom one bathroom Dallas, Victoria house has sold under the mortgagee auction hammer.

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

It transacted for $395,000 at its June 8 auction.

Andrew Butler and Anthony Monteleone of Brad Teal marketed the property.

Situated at 13 King Street, the property is described in the listing 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%.