So it turns out Adam was right, the day after I posted my last post, we got an offer for $436k for the house. 11k more than what I wanted to settle for. SOLD.
You can see the listing here if you want to stickybeak:
http://www.realestate.com.au/property-house-vic-frankston-122092598 I think we did such a good job for how awful the house was when we first got it and for the fact that we've been living on one income that entire time. It was an old 70s house with fake wood panelling on the walls, and three layers of paint (including a lime green one) and wallpaper and those little brown tiles everywhere..... including inside the shower. Except someone had painted OVER the little brown tiles, so it scratched off everywhere.
It was disgusting.
I'm so glad and relieved to have sold it, I really am.