According to the public record, 56, Mill Lane, Romford is a early-century freehold house with 1,345 ft2 of internal area and sits on a 228 m2 plot.
Houses of this size in this area normally have 4 bedrooms with a garden.
Mill Lane, Romford, RM6 is located in the borough of Barking and Dagenham within the RM6 postal district.
56, Mill Lane, Romford has a single entry in the Land Registry database from February 2017 and a single entry in the EPC database dated October 2016.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 56 Mill Lane Romford as £528,409 and the rental value as £2,323 per month giving an expected gross yield of 5.3%.
Over the last 12 months the sale value of 56 Mill Lane Romford has decreased by £6,630 (1.3%) and its rental value has increased by £84 per month (3.6%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 56, Mill Lane, Romford is in very good condition we estimate a sale value of £554,829 and rental value of £2,439 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £491,420 and a rental value of £2,160 per month.
If you were able to purchase this property for the estimated value of £528,409, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £2,597 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to data from HM Land Registry, 56, Mill Lane, Romford sits on a plot of 228m2.
We have plot size data on 6 out of 18 other houses in the postcode and 56, Mill Lane, Romford sits on the 5th largest plot.
According to HM Land Registry, 56, Mill Lane, Romford was last sold on 24 Feb 2017 for £344,000 and was recorded as a freehold house.
The property has only had this single sale since 1995.
Since Feb 2017, the market for similar properties has risen 13.9%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 56, Mill Lane, Romford within a radius of 470 metres over the last 2 years.
The most recent example is 20, Ashton Gardens, Romford, RM6 6RT, a Freehold house which sold for £525,000 in Jun 2023.
Read more about house prices in RM6.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Mill Lane, Romford, RM6 has a total of 119 addresses. According to our analysis of all the public data, 56, Mill Lane, Romford is the 11th largest and the 10th most expensive property on the street.
When compared to the postcode district it is £154k more expensive than the average property in RM6.
56, Mill Lane, Romford has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 05 Oct 2016.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 56, Mill Lane, Romford is Chadwell Heath station which is 800 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around 56, Mill Lane, Romford, 47.5% of property is privately owned with a mortgage and 28.0% is privately owned outright.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 56, Mill Lane, Romford, 22.8% of residents are recorded as possessing school level qualifications and 35.2% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 56, Mill Lane, Romford, the average age was 35.3 and the most common age was 32.
The graph below shows how this compares to Greater London and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 56, Mill Lane, Romford, 0.0% of property was a second home.
Comparison figures for Greater London and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 56, Mill Lane, Romford, there are an average of 1.4 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.