d36 property
d36 property · Buyer's Advocacy

Adam, here is your rooming house journey

The search is live. You did the early sourcing legwork, and now we accelerate it: curated shortlists, inspections on the ground, and negotiation when the right one shows up. This page is your living game plan, the candidates on the table, the strategy we locked in, and our read on every suburb. It updates as we move.

Where we are at
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Discovery29 Jun
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Kick off call4 Aug
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Engagedsigned
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Strategy setlocked
5
Search liveyou are here
6
Shortlistand inspect
7
Secureand convert
Buying power
~$1.2M
$620k finance plus ~$590k equity, IO at 7.29%. Around $250k deposit target, buffer held back
The target
10% yield
Gross floor. 8 or 9 rooms, $20k to $30k net cashflow per deal
The end game
Your income, replaced
Compound one into two, toward $50k to $60k net and real choice
The brief

Buy under market, convert, hold, repeat

An under market metro Melbourne house, converted into a high yielding rooming house, held long term with the equity refinanced into the next one. You chose this over a regional new build for the location, the lower planning risk and the cheaper entry. These are the five things every property gets measured against.

1
Cashflow and growth
Both at once. The metro location does the capital growth work while the conversion drives cashflow. Target: $20k to $30k net per property at an 80% lend, a real lift on your current ~$17k position.
2
8 or 9 rooms
To maximise cashflow. Seven is comfortable in budget. Eight and nine need the right floor plan and a real measure up, which is where Stuart's early assessment comes in.
3
10% gross yield floor
We will not put a conversion in front of you that does not clear it. Whole house yields here sit near 3 to 4%, so the room by room model is what makes the numbers work.
4
Location and transport
Good area, ideally a short reach to a station, a uni, a hospital and shops. In Melbourne driving to a station is normal, so we weight proximity rather than filter on it.
5
Convert non obtrusively
Do the works so it can be handed back as a normal home, sold, or knocked down for townhouses later. Land is the long game. Subdivision upside is a bonus, not a must.
Suburb assessment · data to Aug 2026

Ranked for your brief

We score every area on what actually keeps rooms full: universities, hospitals and jobs nearby, transport, renter depth and the growth story. Then we weigh that against entry price and your 10% floor. Tap any suburb to open the full read.

Strong fit Yield play or watch Deprioritise Bars: rooming demand and growth outlook
What the register tells us

Where the supply gap is

Live counts from the Consumer Affairs Victoria register, set against population. A low number where demand is strong is the gap we want to buy into.

113
Frankston is proven and busy
Around 30 rooming houses per 10,000 people. The demand is real and repeatable, and so is the competition.
16
Springvale and Clayton South are the clearest gap
Only 16 and 13 registered, roughly 7 to 10 per 10,000, against deep Monash, hospital and jobs demand. Thin supply exactly where the tenants already are.
0
Fawkner and Hadfield have none registered
First mover upside, but local rooming demand is unproven and leans on the bus link to the Bundoora campuses. A yield play to test.
228
The benchmark next door
Neighbouring Clayton, on Monash's doorstep, has 228 registered rooming houses. That is what a mature market looks like, and where Springvale and Clayton South could head.
Live shortlist

Your candidates

Every candidate scored against your brief, standard lease alongside the rooming house play. Tap Suburb snapshot for the local data, or Report for the full read. Sold and withdrawn stock sits below for reference and comparison.

Inactive0No longer in play. Kept for reference and comparison.Show ▾
d36 property · Dineth Ekanayake · 0404 901 345 · dineth@d36property.com.au · www.d36property.com.au
Sources: our discovery and kick off calls, your email and messages, suburb research from YIP, HtAG, ABS 2021 Census, Domain and government infrastructure records, and the Consumer Affairs Victoria rooming house register, Aug 2026. Market information is general in nature and verified against live comparables before any offer. Not financial or tax advice.