Potential 4-Bed HMO, Gillingham, ME7 5HX, £290,000

77 College Avenue, Gillingham, Medway, ME7 5HX - 15 views - 4 months ago

Sold STC
HMO
Refurb/BRRR
ROI: 4%
103 m²
+6 photos

ValuationOvervalued

Sold Prices£120K - £367K
Sold Prices/m²£1.1K/m² - £4.5K/m²

 

 

Square Metres

103 m²
Price/m²£2.8K/m²

Value Estimate

£273,763

 

 

End Value (After Refurb)

£298,551

Uplift in Value

+-4%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£72,500

Stamp Duty & Legal Fees

£13,500

Refurb Costs

£50,362

Bridging Loan Interest

£7,613

Total Cash In

£145,724

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£298,551

Mortgage (After Refinance)

£223,913

Mortgage LTV

75%

Cash Released

£6,413

Cash Left In

£139,311

Equity

£74,638

Room Rate

£611

Gross Rent

£2,444

Running Costs/mo

£1,924

Cashflow/mo

£520

Cashflow/yr

£6,241

ROI

4%

Gross Yield

10%

Local Sold Prices

50 sold prices from £120K to £367K, average is £233.3K. £1.1K/m² to £4.5K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£318K06/230 mi44, College Avenue, Gillingham, Medway ME7 5HX3
£120K01/210.01 mi76, College Avenue, Gillingham, Kent ME7 5HX3
£220K03/210.08 mi52, York Avenue, Gillingham, Medway ME7 5JG3
£233.5K07/210.09 mi11, College Avenue, Gillingham, Medway ME7 5HY3
£220K02/210.09 mi3, College Avenue, Gillingham, Medway ME7 5HY3
£290K05/230.09 mi51, College Avenue, Gillingham, Medway ME7 5HY3
£295K09/210.1 mi41, Regent Road, Gillingham, Kent ME7 5JD3
£237.5K06/210.22 mi3, Nile Road, Gillingham, Kent ME7 4SE3
£200K02/210.22 mi20, Nile Road, Gillingham, Medway ME7 4SE3
£245K01/230.24 mi38, Trafalgar Street, Gillingham, Medway ME7 4RL3
£320K12/220.27 mi118, Windmill Road, Gillingham, Medway ME7 5PD3
£326.2K02/230.29 mi144, Windmill Road, Gillingham, Medway ME7 5PD3
£265K03/210.3 mi21, Longhill Avenue, Chatham, Medway ME5 7AR3
£225K04/210.32 mi96, Shakespeare Road, Gillingham, Medway ME7 5QJ3
£235K04/230.32 mi55, Seaview Road, Gillingham, Medway ME7 4NL3
£222K10/210.32 mi41, Seaview Road, Gillingham, Medway ME7 4NL3
£210K12/200.33 mi22, Gillingham Road, Gillingham, Medway ME7 4RR3
£202K10/220.34 mi30, Gillingham Road, Gillingham, Medway ME7 4RR3
£260K11/210.34 mi42, Byron Road, Gillingham, Medway ME7 5QH3
£240K11/200.35 mi46, Longfellow Road, Gillingham, Medway ME7 5QG3
£240K06/230.36 mi50, Seymour Road, Chatham, Medway ME5 7AE3
£367K03/230.36 mi84, Rock Avenue, Gillingham, Medway ME7 5PS3
£245K12/200.36 mi70, Longfellow Road, Gillingham, Medway ME7 5QQ3
£225K10/210.37 mi20, Milton Road, Gillingham, Medway ME7 5LN3
£265K11/210.37 mi56, Milton Road, Gillingham, Medway ME7 5LN3
£190K11/230.37 mi20, Institute Road, Chatham, Medway ME4 4PF3
£163K11/200.38 mi55, Thorold Road, Chatham, Medway ME5 7EB3
£175K10/200.39 mi71, Luton Road, Chatham, Medway ME4 5AG3
£285K02/230.39 mi23, Marlborough Road, Gillingham, Medway ME7 5HB3
£200K06/230.4 mi24, Tennyson Road, Gillingham, Medway ME7 5QD3
£185K02/210.4 mi33, Tennyson Road, Gillingham, Medway ME7 5QD3
£250K05/230.4 mi65, Tennyson Road, Gillingham, Medway ME7 5QD3
£265K09/210.41 mi274, Canterbury Street, Gillingham, Medway ME7 5XT3
£221K04/230.41 mi170, St Johns Road, Gillingham, Medway ME7 5QE3
£233K03/210.42 mi124, Nelson Road, Gillingham, Medway ME7 4LL3
£230K09/210.43 mi179, Shakespeare Road, Gillingham, Medway ME7 5QB3
£195.5K08/210.43 mi147, Shakespeare Road, Gillingham, Kent ME7 5QB3
£265K12/220.43 mi31, Upbury Way, Chatham, Medway ME4 4NG3
£220K07/210.43 mi107, Imperial Road, Gillingham, Medway ME7 5PH3
£275K04/230.43 mi85, Imperial Road, Gillingham, Medway ME7 5PH3
£200K06/210.44 mi140, Shakespeare Road, Gillingham, Medway ME7 5QA3
£152K10/200.44 mi107, Luton Road, Chatham, Medway ME4 5AE3
£185K03/210.44 mi169, Luton Road, Chatham, Medway ME4 5AE3
£270K07/230.44 mi129, Luton Road, Chatham, Medway ME4 5AE3
£350K11/220.45 mi204, Chatham Hill, Chatham, Medway ME5 7BB3
£300K09/210.45 mi170, Chatham Hill, Chatham, Kent ME5 7BB3
£215K10/230.46 mi34, Lester Road, Chatham, Medway ME4 5NP3
£220K08/230.46 mi38, Lester Road, Chatham, Medway ME4 5NP3
£230K03/230.46 mi38, Upper Luton Road, Chatham, Medway ME5 7BG3
£280K03/210.46 mi184, Rock Avenue, Gillingham, Medway ME7 5PR3

Local Area Statistics

Population in ME7

51,293

Population in Gillingham

115,061

Town centre distance

1.77 miles away

Nearest school

0.10 miles away

Nearest train station

0.48 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+20%

Property History

Price changed to £290,000

January 15, 2025

Price changed to £300,000

January 3, 2025

Listed for £310,000

December 20, 2024

Sold for £156,000

2007

Sold for £98,000

2002

Floor Plans

Description

  • 1103.2 Square Feet +
  • 0.5 Miles to Gillingham Train Station +
  • Walking Distance to Medway Hospital +
  • High Ceilings +
  • Ideal for Large Families +
  • Potential for HMO (subject to consents) +
  • Upstairs Bathroom and Downstairs Toilet +
  • On Street Permit Parking +
  • No Chain! +

Nestled on the charming College Avenue in Gillingham, this elegant Edwardian terrace house boasts three spacious bedrooms and encompasses 1,103.2 square feet of living space. Ideally situated just 0.5 miles from Gillingham Train Station and within walking distance to the local hospital, this property offers both convenience and comfort. Featuring high ceilings that enhance its historical charm, the home is perfect for a large family or those seeking generous living areas. With an upstairs bathroom, downstairs WC, no onward chain, and potential for conversion to an HMO (subject to consents), this residence provides a versatile and inviting living environment. In need of renovation.

Key Terms
Discover the allure of Rainham and Gillingham, nestled in the heart of the Medway Towns. These neighbouring communities offer a unique blend of tranquillity and convenience, with picturesque landscapes and excellent transport links, including direct train services to London city centre. Residents benefit from a variety of shopping destinations such as Hempstead Valley Shopping Centre and Gillingham Business Retail Park, along with a plethora of local pubs and restaurants to enjoy. Both towns boast well-respected schools, including Rainham Mark Grammar, ensuring quality education for families.
Moreover, Rainham and Gillingham provide ample open space and recreational facilities, including Capstone Country Park, Berengrave Nature Reserve, Riverside Country Park, the Planet Ice Skating Rink, the Ski & Snowboard Centre, and Great Lines Heritage Park. This abundance of amenities caters to diverse interests and lifestyles, making these towns not just places to live, but communities to thrive in.

Agent Details

Robinson Michael & Jackson, Rainham

01634 561140

Next Steps?

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