The 8-hectare estate at 390 Eltham-Yarra Glen Road includes a flood lit tennis court, swimming pool and large covered pergola area. The 370 square metre 4-bedroom plus study home has expansive views over the Kangaroo Ground township.
Wallace sold the house to its current owners in 2003, amid speculation he might be heading to Sydney to coach the Sydney Swans. Instead, he won a five year contract to coach Richmond. He now lives nearby in Eltham North.
David McFarlane real estate agent Ashleigh Lawson, who is marketing the property, said he expects the house to sell for between $1.3 million and $1.4 million when it goes to auction on Saturday September 1.