3 Bed Terraced House, Refurb/BRRR, Harwich, CO12 3DX, £300,000

21 Market Street, Harwich, Essex, CO12 3DY - 3 views - a year ago

Refurb/BRRR
Planning
ROI: 3%
~93 m²
+10 photos

ValuationOvervalued

Sold Prices£125K - £270K
Sold Prices/m²£1.3K/m² - £3.6K/m²

 

 

Square Metres

~93 m²
Price/m²£3.2K/m²

Value Estimate

£194,208

 

 

End Value (After Refurb)

£215,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£21,200

Refurb Costs

£43,788

Bridging Loan Interest

£7,875

Total Cash In

£149,613

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£215,000

Mortgage (After Refinance)

£161,250

Mortgage LTV

75%

Cash Left In

£149,613

Equity

£53,750

Rent Range

£850 - £2,300

Rent Estimate

£1,383

Running Costs/mo

£968

Cashflow/mo

£415

Cashflow/yr

£4,974

ROI

3%

Gross Yield

6%

Local Sold Prices

41 sold prices from £125K to £270K, average is £198.5K. £1.3K/m² to £3.6K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£270K10/220.07 mi16b, Kings Head Street, Harwich, Essex CO12 3EE3
£206K03/210.08 mi48, West Street, Harwich, Essex CO12 3DD3
£237.5K04/210.08 mi40, West Street, Harwich, Essex CO12 3DD3
£250K01/230.08 mi37a, West Street, Harwich, Essex CO12 3DD3
£265K04/230.08 mi38a, West Street, Harwich, Essex CO12 3DD3
£217K03/210.09 mi37a, West Street, Harwich, Essex CO12 3DD3
£230K10/200.11 mi22, West Street, Harwich, Essex CO12 3DB3
£240K01/230.21 mi2, Main Road, Harwich, Essex CO12 3LZ3
£162K05/210.23 mi15, Station Road, Harwich, Essex CO12 3LY3
£150K10/200.25 mi51, Albemarle Street, Harwich, Essex CO12 3HN3
£170K06/210.37 mi46, Fernlea Road, Harwich, Essex CO12 3BW3
£172.5K06/230.43 mi37, Mayflower Avenue, Dovercourt, Harwich, Essex CO12 3NW3
£150K07/230.46 mi9, Talbot Street, Harwich, Essex CO12 3JQ3
£160K11/200.5 mi32, Grafton Road, Harwich, Essex CO12 3BD3
£185K01/210.57 mi4, Park Road, Harwich, Essex CO12 3BJ3
£125K05/210.6 mi30, Gwynne Road, Harwich, Essex CO12 3BG3
£180K07/210.6 mi31, Gwynne Road, Harwich, Essex CO12 3BG3
£150K10/200.61 mi43, Waddesdon Road, Harwich, Essex CO12 3BA3
£182.5K06/210.69 mi6, Station Road, Dovercourt, Harwich, Essex CO12 3AL3
£207K06/210.7 mi15, Nelson Road, Harwich, Essex CO12 3AH3
£172K12/200.7 mi20, Nelson Road, Harwich, Essex CO12 3AH3
£135K06/210.82 mi18, Hordle Street, Harwich, Essex CO12 3PZ3
£132.5K05/210.82 mi28, Hordle Street, Harwich, Essex CO12 3PX3
£270K01/210.83 miQuinta La Mere, Pattricks Lane, Harwich, Essex CO12 3QJ3
£187.5K08/210.84 mi2, Empire Road, Harwich, Essex CO12 3QA3
£160K08/230.84 mi15, Empire Road, Harwich, Essex CO12 3QA3
£174K12/200.84 mi21, Empire Road, Harwich, Essex CO12 3QA3
£225K07/210.88 mi215, Main Road, Harwich, Essex CO12 3PJ3
£175K02/210.9 mi39, Brooklyn Road, Harwich, Essex CO12 3QF3
£227K03/230.92 mi13, Brooklyn Road, Harwich, Essex CO12 3QE3
£220K04/210.92 mi28, Brooklyn Road, Harwich, Essex CO12 3QE3
£235K11/220.92 mi27, Brooklyn Road, Harwich, Essex CO12 3QE3
£242.5K12/220.93 mi37, Brooklyn Road, Harwich, Essex CO12 3QF3
£255K12/220.94 mi26, Brooklyn Road, Harwich, Essex CO12 3QE3
£225K07/210.94 mi44, Oakland Road, Harwich, Essex CO12 3QG3
£215K11/210.94 mi49, Oakland Road, Harwich, Essex CO12 3QG3
£215K04/210.96 mi6, Oakland Road, Harwich, Essex CO12 3QQ3
£195K03/210.96 mi23, Oakland Road, Harwich, Essex CO12 3QQ3
£198.5K11/220.98 mi13, Portland Crescent, Harwich, Essex CO12 3QH3
£235K11/210.99 mi18, Portland Avenue, Harwich, Essex CO12 3QN3
£147K10/201 mi11, Lee Road, Harwich, Essex CO12 3SJ3

Local Rents

15 rents from £850/mo to £2.3K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£90012/240.12 mi-3
£2,20005/240.31 mi-3
£2,20012/240.31 miMaria Street, Harwich, CO123
£2,30012/240.31 miMaria Street, Harwich, CO123
£85012/240.34 miVansittart Street, HARWICH3
£1,20012/240.7 miNelson Road, HARWICH3
£1,20012/240.7 miNelson Road, HARWICH3
£99512/240.8 mi-3
£1,25012/240.85 mi-3
£1,15012/240.9 miHillcrest Court3
£1,20012/240.95 miPortland Avenue, HARWICH3
£1,10012/240.96 miMain Road, Harwich, Essex, CO123
£1,50005/241.1 miHawkes Drive, Shotley Gate, Ipswich3
£1,30012/241.11 miMain Road, Harwich, Essex, CO123
£1,40012/241.17 mi-3

Local Area Statistics

Population in CO12

22,251

Town centre distance

1.86 miles away

Nearest school

0.50 miles away

Nearest train station

0.21 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+27%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Price changed to £300,000

April 1, 2025

Price changed to £335,000

November 12, 2024

Listed for £360,000

January 30, 2024

Floor Plans

Description

  • End Terrace House +
  • Grade II Listed +
  • Three Storeys +
  • Character Throughout +
  • Planning Permission Granted +
  • Rear Courtyard +
  • In Need of Renovation +
  • Chain Free +

An exciting opportunity to acquire this Grade II Listed, three bedroom property and plot of land (20,20b) located in the popular area of Harwich on Market Street.

The property has planning permission granted under application no. 15/00615/FUL for the construction of 8 flats situated adjacent to the property within a four storey building.

GROUND FLOOR:

SHOP FLOOR: 16'11" x 14'11"
OFFICE AREA 6'3" x 11'11"
WORKSHOP 16'3" x 11'12"

FIRST FLOOR:

LOUNGE: 15'8" x 14'10"
KITCHEN 17'6" x 13'11"
BEDROOM ONE 16'4" x 12'3"

TOP FLOOR:

BEDROOM TWO 17'8" x 11.0"
BEDROOM THREE 14'7" x 11'09"
DRESSING ROOM 10'2" x 8.4"
BATHROOM 8'5" x 7'4"

Planning ref. No: 15/00615/FUL

PRICING OF THE POTENTIAL APARTMENTS:

Based on current marketing conditions and in conjunction with the proposed plans, we would expect:
6 x two bedroom flats - expected selling price of £140,000.
2 x one bedroom flats- expected selling price of £125,000.

Please call us today to book your viewing.

Location

The property is situated directly on the harbourside, close to the A120 trunk road and with plenty of amenities close by. Including some fantastic restaurants, an award winning pub, the Greater Anglia train station and the town centre close by.

Directions

Please type CO12 3DY for SatNav.

Important Information

Council Tax Band - B
Services - We understand that mains water, drainage and electricity are connected to the property.
Tenure - Freehold
EPC - TBC
Our Ref - MAN240002/BW

Agent Details

Fenn Wright, Manningtree

01206 586079

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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