I am seeking confirmation of whether there exists a suburb or housing
development containing beachfront property (residential homes) between
Perth and Freemantle which is named "Roleystone Estates".  This will
be a "neighborhood" type place, and likely not an incorporated town. 
I am not talking about the town of Roleystone, which is northeast of
Perth.

There was a Roleystone Estate.

"A Brief History of Peet" [third paragraph]
Peet and Company
http://www.peet.com.au/company/history.aspx

Hi Whitedianthus, As a local, [ I really have given myself away,
there] I am not aware of any such development. You mention
"beachfront" and between Perth and Fremantle. Going north from
Fremantle are. 1. North Fremantle [ after crossing the Stirling Bridge
over the Swan River] 2. Mosman Park, 3.Cottesloe, 4.Swanbourne, 5,
City Beach. 5 is not really between Perth and Fremantle, but north.
They are all beachside suburbs and not developments. Roleystone is a
suburb or semi rural area and not an actual town. It lies to the east
of Perth in the Darling Range escarpement. I strongly suspect that the
authorities that control the names of estates, would not permit this
one as it would cause some confusion in the existing postal system,
considering too that the area of Roleystone is quite large and has its
own post code [ 6111]. Like I said, it does have groups of new housing
in the hills, plus shops and some businesses, but is not an actual
"town" such as New Norcia or York, both not too far away...[for West
Aussies that is] You can fit the whole of Britain into WESTERN
AUSTRALIA and still be only be as far as Carnarvon. Hope this helps.
PW

Slight modification. As per the Peet & Co. info, Yes, Roleystone
Estate DID exist in 1903, but as the question asks..." there exists a
suburb or housing estate...not any more.PW

Dear pugwashjw-ga, thanks so much for your comment. Might I ask if
you've ever heard of a place called "Wreck's Bay" in that area?