2 Bed Bungalow, Refurb/BRRR, Chatham, ME5 8NJ, £280,000

Lords Wood Lane, Chatham, ME5 8NJ - a year ago

Refurb/BRRR
ROI: 3%
~60 m²
+7 photos

ValuationOvervalued

Sold Prices£200K - £385K
Sold Prices/m²£2.4K/m² - £6.2K/m²

 

 

Square Metres

~59.80 m²
Price/m²£4.7K/m²

Value Estimate

£245,468

 

 

End Value (After Refurb)

£212,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£70,000

Stamp Duty & Legal Fees

£19,200

Refurb Costs

£29,321

Bridging Loan Interest

£7,350

Total Cash In

£127,621

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£212,500

Mortgage (After Refinance)

£159,375

Mortgage LTV

75%

Cash Left In

£127,621

Equity

£53,125

Rent Range

£1,100 - £1,500

Rent Estimate

£1,306

Running Costs/mo

£945

Cashflow/mo

£361

Cashflow/yr

£4,329

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £200K to £385K, average is £253.5K. £2.4K/m² to £6.2K/m², average is £4.1K/m².

PriceDateDistanceAddressBeds 
£315K02/230.07 mi38, Savage Road, Chatham, Medway ME5 8DZ2
£242K06/230.07 mi64, Savage Road, Chatham, Medway ME5 8DZ2
£260K03/230.07 mi50, Savage Road, Chatham, Medway ME5 8DZ2
£206K12/200.1 mi28, Fanconi Road, Chatham, Kent ME5 8DE2
£211K02/230.19 mi22, Mckenzie Road, Chatham, Medway ME5 8DL2
£278.5K07/230.2 mi5, Ballens Road, Chatham, Medway ME5 8NS2
£350K04/230.25 mi4, Swingate Close, Chatham, Medway ME5 8RH2
£325K11/200.25 mi3, Swingate Close, Chatham, Medway ME5 8RH2
£295K12/220.28 mi24, Nash Close, Chatham, Medway ME5 8QW2
£287K02/230.3 mi18, Nash Close, Chatham, Medway ME5 8QW2
£237K06/210.3 mi17, Rothervale, Chatham, Kent ME5 8PN2
£270K07/230.3 mi23, Rothervale, Chatham, Medway ME5 8PN2
£235K02/210.3 mi21, Nash Close, Chatham, Medway ME5 8QW2
£210K03/210.33 mi145, Ballens Road, Chatham, Medway ME5 8PG2
£215K12/200.33 mi41, Croydon Close, Chatham, Medway ME5 8RT2
£240K01/210.33 mi42, Croydon Close, Chatham, Medway ME5 8RT2
£240K04/230.33 mi54, Croydon Close, Chatham, Medway ME5 8RT2
£235K06/210.35 mi48, Kingston Crescent, Chatham, Medway ME5 8YW2
£385K04/230.35 mi110, Ballens Road, Chatham, Medway ME5 8PG2
£250K06/230.36 mi33, Lambeth Close, Chatham, Medway ME5 8YL2
£250K09/210.37 mi7, Dane Close, Chatham, Medway ME5 8QJ2
£250K08/230.37 mi3, Dane Close, Chatham, Medway ME5 8QJ2
£220K03/210.39 mi4, Phoenix Road, Chatham, Medway ME5 8RU2
£230K09/210.4 mi24, Albion Road, Chatham, Medway ME5 8SR2
£255K09/210.4 mi217, Ballens Road, Chatham, Medway ME5 8PH2
£257.5K11/200.4 mi93, Princes Avenue, Chatham, Medway ME5 8AY2
£363K09/210.41 mi17, Marion Close, Chatham, Medway ME5 9QA2
£270K05/230.42 mi32, Wetheral Drive, Chatham, Medway ME5 8ES2
£245K06/210.42 mi161, Princes Avenue, Chatham, Medway ME5 8AX2
£267K06/230.42 mi157, Princes Avenue, Chatham, Medway ME5 8AX2
£230K11/200.42 mi115, Kingston Crescent, Chatham, Kent ME5 8XG2
£275K08/230.46 mi59, Weybridge Close, Chatham, Medway ME5 8RW2
£235K12/200.46 mi27, Greenwich Close, Chatham, Kent ME5 8YS2
£301K06/210.47 mi27, Princes Avenue, Chatham, Medway ME5 8BA2
£235K02/210.47 mi31, Scotby Avenue, Chatham, Medway ME5 8EP2
£290K04/230.54 mi175, Kingston Crescent, Chatham, Medway ME5 8YZ2
£252K03/230.55 mi7, Brownhill Close, Chatham, Medway ME5 0NN2
£280K11/200.55 mi15, Brownhill Close, Chatham, Medway ME5 0NN2
£305K02/210.55 mi16, Brownhill Close, Chatham, Medway ME5 0NN2
£200K12/200.56 mi3, Japonica Close, Chatham, Medway ME5 8NZ2
£210K02/210.56 mi10, Japonica Close, Chatham, Medway ME5 8NZ2
£290K03/230.58 mi19, Albury Close, Chatham, Medway ME5 8UW2
£270K05/230.59 mi45, Brenzett Close, Chatham, Medway ME5 7NB2
£218K01/210.59 mi42, Tuscan Drive, Chatham, Medway ME5 8TG2
£260K12/200.59 mi52, Tuscan Drive, Chatham, Medway ME5 8TG2
£240K08/210.59 mi38, Gatcombe Close, Chatham, Kent ME5 7RD2
£240K12/200.6 mi22, Brindle Way, Chatham, Medway ME5 8UA2
£265K05/230.6 mi38, Brindle Way, Chatham, Medway ME5 8UA2
£290K06/230.63 mi54, Abinger Drive, Chatham, Medway ME5 8UL2
£278K07/230.64 mi24, Romney Road, Chatham, Medway ME5 7LU2

Local Rents

12 rents from £1.1K/mo to £1.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,50005/240.13 miDarenth Rise, Lordswood, Chatham2
£1,10005/240.17 miHornbeam Avenue, Chatham2
£1,30005/240.3 miRothervale, Chatham, Kent, ME52
£1,30007/240.4 miBallens Road, Chatham2
£1,25002/250.4 mi-2
£1,45006/240.43 mi-2
£1,45008/240.43 mi-2
£1,30006/240.49 miKestrel Road, Chatham2
£1,29503/250.54 mi-2
£1,27512/240.57 mi-2
£1,25007/240.58 miAlbury Close,Lordswood,Chatham,ME5 8UW2
£1,20007/240.6 miWalderslade Road, Chatham, Kent, ME52

Local Area Statistics

Population in ME5

51,764

Population in Chatham

82,044

Town centre distance

1.95 miles away

Nearest school

0.10 miles away

Nearest train station

2.83 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £280,000

November 28, 2023

Floor Plans

Description

  • Two Bedrooms +
  • Semi Detached +
  • Bungalow +
  • Close To M2 Motorway +
  • In Need Of Updating +
  • Close To Local Schools +
  • Excellent Potential +
  • Close To Local Shops +
  • Garage +

The Property
This charming two bedroom bungalow located in the popular area of Lords Wood in Kent, is available for sale with no forward chain. Off road parking is provided in the form of a garage and area in front.

Positioned within easy walking distance of the local parade of shops as well as a petrol garage and local school this property is ideally located for a multitude of buyers. The M2/A2 motorway network is just a short drive away via Blue Bell Hill.

Externally you will enjoy generously sized front and rear gardens, as well as the potential to convert the front garden into off road parking subject to permissions on the drop curb.

Internally there is an excellent layout which is all on one floor. There is a lounge/diner, kitchen, bathroom and two good sized bedrooms. The property requires updating internally and is ideal for those looking to put their own stamp on a new home.

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Medway

020 3908 5063

Next Steps?

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