6 Bed HMO, Gillingham, ME7 5PE £400,000

Windmill Road, Gillingham, Kent. ME7 5PE - 17 views - 2 years ago
Sold STC
HMO
ROI: 10%
~145 m²
Property image

ValuationUndervalued

Sold Prices£395K - £980K
Sold Prices/m²£2.7K/m² - £5.2K/m²

 

 

Square Metres

~144.53 m²
Price/m²£2.8K/m²

Value Estimate

£428,771
BMV7%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£100,000

Stamp Duty & Legal Fees

£20,700

Total Cash In

£120,700

 

 

Cash Out

 

Room Rate

£633

Gross Rent

£3,798

Running Costs/mo

£2,741

Cashflow/mo

£1,057

Cashflow/yr

£12,689

ROI

11%

Gross Yield

11%

Local Sold Prices

24 sold prices from £395K to £980K, average is £611.5K. £2.7K/m² to £5.2K/m², average is £3.4K/m².

Price
Date
Distance
Address
Beds
 
£425K10/211.02 mi32, Cornwall Road, Gillingham, Medway ME7 1LP6
£395K05/231.17 mi159, Pagitt Street, Chatham, Medway ME4 6RB6
£430K03/231.25 mi9, Laurel Road, Gillingham, Medway ME7 1NT6
£980K11/231.52 mi161, Maidstone Road, Chatham ME4 6JG6
£980K11/231.52 mi161, Maidstone Road, Chatham ME4 6JG6
£980K11/231.58 mi161, Maidstone Road, Chatham, Medway ME4 6JG6
£870K01/251.68 mi81, Wilson Avenue, Rochester ME1 2SJ6
£870K01/251.68 mi81, Wilson Avenue, Rochester ME1 2SJ6
£600K01/251.79 mi100, Lower Rainham Road, Gillingham, Medway ME7 2XS6
£600K01/251.8 mi100, Lower Rainham Road, Rainham, Gillingham ME7 2XS6
£500K07/251.81 mi560, Grange Road, Gillingham ME7 2UH6
£775K03/251.81 mi253, Eastcourt Lane, Twydall, Gillingham ME7 2UW6
£775K03/251.81 mi253, Eastcourt Lane, Twydall, Gillingham ME7 2UW6
£570K08/211.89 mi148, Maidstone Road, Rochester, Kent ME1 3ED6
£525K11/242.15 mi14, Cowdrey Close, Borstal, Rochester ME1 3NU6
£525K11/242.15 mi14, Cowdrey Close, Borstal, Rochester ME1 3NU6
£603K03/242.29 mi2, Swain Road, Rainham, Gillingham ME8 0SN6
£780K01/232.33 mi41, Cobblestones, Hempstead, Gillingham, Medway ME7 3NS6
£705K06/212.44 mi48, Durham Road, Gillingham, Medway ME8 0JN6
£800K06/232.61 mi327, Hempstead Road, Hempstead, Gillingham, Medway ME7 3QJ6
£580K09/222.77 mi1, Central Road, Rochester, Medway ME2 3HF6
£700K02/232.94 mi97, Boxley Road, Chatham, Kent ME5 9JD6
£590K03/242.94 mi28, Guinness Drive, Wainscott, Rochester ME3 8GE6
£620K11/222.98 mi28, Woodlands, Chatham, Kent ME5 9JX6

Local Area Statistics

Population in ME7

51,293

Population in Gillingham

115,061

Town centre distance

1.56 miles away

Nearest school

0.20 miles away

Nearest train station

0.68 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Balanced market

Capital growth (5yrs)

+27%

Property History

Listed for £400,000

May 8, 2024

Floor Plans

Property image

Description

  • SIX DOUBLE BEDROOM HMO +
  • SPANNING OVER FOUR FLOORS +
  • EACH BEDROOM EQUIPPED WITH ITS EN-SUITE BATHROOM FOR ADDED CONVENIENCE. +
  • TWO BEDROOMS WITH EN-SUITES ON THE GROUND FLOOR ENSURE PRIVACY. +
  • SECOND FLOOR BOASTS THREE ADDITIONAL BEDROOMS, EACH WITH ITS EN-SUITE. +
  • TOP FLOOR DEDICATED ENTIRELY TO A DOUBLE SUITE, OFFERING A SERENE RETREAT. +
  • VAST CELLAR SPACE PRESENTS OPPORTUNITIES FOR CONVERSION, SUBJECT TO PLANNING APPROVAL. +
  • CONVENIENTLY LOCATED JUST A SHORT 2-MINUTE WALK FROM THE LOCAL HOSPITAL. +
  • NEARBY AMENITIES SUCH AS SUPERMARKETS, SHOPS, AND THE TRAIN STATION WITHIN A 15-MINUTE WALK. +
  • PRODUCING £45,540 ANNUALLY +

Exciting New Listing Alert! Presenting this exceptional six bedroom HMO nestled in the convenient area of Gillingham. This property stands out as one of the largest on the street, boasting six spacious double bedrooms, each equipped with its own en-suite bathroom. This property spans four floors, offering ample space for comfortable living. On the ground floor, you'll find an inviting eat-in kitchen seamlessly integrated with a living area, providing a perfect hub for tenants to socialise and unwind. There are two bedrooms, each with it’s own en-suite, ensuring privacy and convenience. Ascending further, the second floor features three additional bedrooms, each boasting its own en-suite. But wait, there's more! The top floor is dedicated entirely to double suite, spanning the entire level and complete with its own en-suite, offering a retreat away from the hustle and bustle below. Additionally, a vast cellar space offers endless possibilities for conversion, potentially adding even more bedrooms (subject to planning). Conveniently located just a short 2-minute walk from the local hospital, this fully licensed and compliant HMO is ideal for professionals seeking easy access to work. Nearby amenities such as supermarkets, shops, and the train station are all within a 15-minute walk, offering seamless connections to London and beyond. Let's talk about income potential: Room 1 - £575 pcm Room 2 - £625 pcm Room 3 - £695 pcm Room 4 - £580 pcm Room 5 - £675 pcm Room 6 - £645 pcm That's a total of £3795 per calendar month or £45,540 annually. Don't miss out on this lucrative investment opportunity! Freehold Medway council - band C EPC Band E

EPC Rating: E

Agent Details

Moxy Property Consultants, Rochester

01634 563781

Next Steps?

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