Balwyn North mortgagee home sold for $165,000 loss

A Balwyn North mortgagee home has been sold for $965,000.

The three bedroom, two bathroom townhouse last sold for $1.13 million in 2016.

Mark and Rob Fletcher of Fletchers Real Estate marketed the property.

Situated at 5 St Bridgets Rise, the abode was sold at auction with a price guide of $960,000 - $1,050,000.

Set on 526 square metres, the two storey home features a double auto-garage.

Built in 1980, the home is located a short walk from multiple schools, cafes, public transport options and other amenities.

When the home last sold, it was also during an auction but it went under the hammer with a lower price guide of $900,000 - $990,000, despite the higher final sale price.

The median price for a home in Balwyn North is $1,561,500 according to CoreLogic.