Fully renovated since changing hands in 2017, the five-bedroom Hamptons-style home is on nearly 2000 square metres on the fringe of Green Point reserve.

LJ Hooker Belmont's Joshua O'Doherty expects the property to attract national or even international interest, but said Newcastle buyers had the advantage of understanding the area's significance.

A guide is yet to be released, however recent sales (a new suburb record of more than $4.25 million was set in June) suggest it could demand a figure of well over $2 million.

"There's been a couple of homes that have sold in the early $2 millions which would be inferior to this property, but every time we go out at the moment we're walking on the moon," Mr O'Doherty said.

"I'd expect to see this property set a precedent for the area - I wouldn't be the first agent to say that at the moment, but it's certainly got the legs to do anything.

"It's going to be a real heart-buy for someone, it's one of those dream houses that people aspire to."

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A fourth bathroom has been added to the home's original layout, which includes five bedrooms, garaging, and an Atlantic marble verandah that surrounds a glamorous entrance.

The property is tucked away at the tail of a quiet cul-de-sac and, according to Mr O'Doherty, was likely one of the original homes on the Green Point estate.

"It was designed and built by the Ellis family - they did the Anchorage at Port Stephens and you can probably see some similarities in the architecture between that and another home that's in the street," he said.

"They sold it a few years ago and this family has come in, taken a 20-year-old home and re-imagined it.

"They really haven't spared too much - every surface of the home has been totally renovated."

The property is for sale via expressions of interest, closing October 27.