2 Bed Flat, Cash/Bridging Only, Chatham, ME4 6SY, £120,000

11 Chilham Close, Chatham, Medway, ME4 6SY - 15 views - a year ago

Sold STC
Leasehold
Cash
ROI: 9%
~68 m²
+1 photos

ValuationFair Value

Sold Prices£90K - £500K
Sold Prices/m²£1.3K/m² - £5.1K/m²

 

 

Square Metres

~67.80 m²
Price/m²£1.8K/m²

Value Estimate

£120,000

 

 

End Value (After Refurb)

£195,276

Uplift in Value

+63%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Refurb Costs

£33,244

Bridging Loan Interest

£3,150

Total Cash In

£72,944

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£195,276

Agent Fees (1%)

£1,953

Bridging Loan

£90,000

Bridging Loan Interest

£3,150

Flip Profit

£30,380

Local Sold Prices

47 sold prices from £90K to £500K, average is £175K. £1.3K/m² to £5.1K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£162.5K02/210.19 mi31, Dale Street, Chatham, Medway ME4 6QE2
£134.5K03/210.23 mi69, Dale Street, Chatham, Medway ME4 6QG2
£185K11/230.23 mi30, Port Rise, Chatham, Medway ME4 6NQ2
£205K08/230.23 mi18, Port Rise, Chatham, Medway ME4 6NQ2
£166.5K12/200.24 miFlat 14b, Spembley House, New Road Avenue, Chatham, Medway ME4 6BA2
£185K11/210.24 mi26, Armada Way, Chatham, Medway ME4 6PH2
£177K09/210.24 mi8, Armada Way, Chatham, Kent ME4 6PH2
£195K01/230.24 mi5, Armada Way, Chatham, Medway ME4 6PH2
£185K05/210.29 mi52b, High Street, Chatham, Medway ME4 4DS2
£157K12/210.3 miFlat 7, Blenheim Court, Boundary Road, Chatham, Medway ME4 6UJ2
£160K09/210.33 mi40, Jenkins Dale, Chatham, Medway ME4 5RB2
£175K04/230.36 mi4, Bingley Road, Rochester, Medway ME1 1BZ2
£260K10/230.41 mi7, Five Bells Lane, Rochester, Medway ME1 1BW2
£120K11/220.46 miFlat 1, Royal Oak House, Doust Way, Rochester, Medway ME1 1FF2
£190K08/210.56 miFlat 36, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£195K07/210.56 miFlat 17, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£217.5K09/220.56 miFlat 64, Lyon Court, High Street, Rochester, Medway ME1 1HX2
£215K01/210.56 miFlat 35, Lyon Court, High Street, Rochester, Medway ME1 1HX2
£168.5K03/210.57 miFlat 62, Charlesworth House, Balfour Road, Chatham, Kent ME4 6QT2
£202K01/230.57 miFlat 66, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£250K11/220.6 mi2, Ross Street, Rochester, Medway ME1 2DF2
£156K01/210.63 mi57, Mary Court, Chatham, Medway ME4 5NT2
£163K10/210.63 mi42, Mary Court, Chatham, Medway ME4 5NT2
£150K11/200.63 mi54, Mary Court, Chatham, Medway ME4 5NT2
£175K12/220.63 mi15, Mary Court, Chatham, Medway ME4 5NT2
£173.5K12/200.66 mi69, Diana Road, Chatham, Medway ME4 5PW2
£170K04/210.66 mi1, Diana Road, Chatham, Medway ME4 5PW2
£160K12/200.66 mi6, Diana Road, Chatham, Medway ME4 5PW2
£121.5K11/200.66 mi73, Diana Road, Chatham, Medway ME4 5PW2
£90K07/230.68 mi1d, Longley Road, Rochester, Medway ME1 2HD2
£155K06/210.69 mi38, Steven Close, Chatham, Medway ME4 5NG2
£185K10/210.72 miFlat 3, Faraday House, High Street, Rochester, Medway ME1 1EZ2
£210K05/210.72 miFlat 9, Faraday House, High Street, Rochester, Medway ME1 1EZ2
£226K10/220.73 mi4, Davy Court, Rochester, Medway ME1 1AE2
£240K05/210.74 mi19, Davy Court, Rochester, Medway ME1 1AE2
£257.5K05/230.74 mi6, Davy Court, Rochester, Medway ME1 1AE2
£220K11/210.74 mi14, Davy Court, Rochester, Medway ME1 1AE2
£150K04/210.75 miFlat 8, Lea Court, Huntsmans Close, Rochester, Medway ME1 2RF2
£500K11/200.87 mi3, City Way, Rochester, Medway ME1 2AX2
£170K08/210.92 miFlat 16, Conway Hall, Conway Mews, Brompton, Gillingham, Kent ME7 5BD2
£107K12/200.93 mi200a, Luton Road, Chatham, Medway ME4 5BP2
£107K02/210.93 mi198a, Luton Road, Chatham, Medway ME4 5BP2
£149K03/230.97 mi123, Maida Road, Chatham, Medway ME4 5ED2
£170K01/230.98 mi77, Maida Road, Chatham, Medway ME4 5EB2
£360K06/210.99 mi2, Sealand Court, Rochester, Kent ME1 1QH2
£286K05/210.99 mi13, Sealand Court, Rochester, Kent ME1 1QH2
£331K09/220.99 mi14, Sealand Court, Rochester, Medway ME1 1QH2

Local Rents

50 rents from £975/mo to £2.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,50004/250.07 mi-2
£1,25001/250.1 mi-2
£1,10005/240.18 mi-2
£1,20005/240.19 miMaidstone Road, Chatham2
£1,25007/240.23 miPort Rise, Chatham2
£1,30007/240.24 miNew Road, Chatham2
£1,75005/240.24 miBishops Court, Rochester 2
£1,19504/250.25 mi-2
£1,25007/240.25 miNew Road, Chatham, Kent, ME42
£1,29506/240.27 mi-2
£1,25002/250.27 mi-2
£1,15005/240.27 miMary Court, Chatham, Kent, ME42
£1,45008/240.27 miChatham Waters, South House, Gillingham Gate Road, Gillingham, ME42
£1,40007/240.27 miGundulph Road, Chatham2
£1,30006/240.29 mi-2
£1,20005/240.29 miBishops Court, St. Bartholomews Place New Road ME12
£1,30005/240.29 miNew Road, Rochester, Kent, ME12
£1,20005/240.3 mi-2
£1,20005/240.3 mi-2
£1,25005/240.3 miNora Court, Chatham, ME42
£97508/240.3 miManor Road, Chatham, Kent, ME4 6AB2
£99005/240.31 mi-2
£1,25005/240.31 miHospital Lane, Rochester, Kent, ME12
£2,25001/240.32 mi-2
£2,50002/240.32 mi-2
£2,09505/240.32 mi-2
£2,25006/240.32 mi-2
£2,09505/240.32 mi-2
£1,29506/240.32 mi-2
£2,30001/240.32 mi-2
£2,19505/240.32 mi-2
£2,19506/240.32 mi-2
£2,19506/240.32 mi-2
£2,09507/240.32 mi-2
£2,09507/240.32 mi-2
£2,09502/250.32 mi-2
£1,29504/250.32 mi-2
£2,19504/250.32 mi-2
£1,40007/240.32 mi-2
£1,30007/240.32 mi-2
£2,30005/240.32 mi-2
£1,39505/240.32 mi-2
£1,39505/240.32 mi-2
£1,52507/240.35 miMedway Street Chatham ME42
£1,50005/240.37 miHigh Street, Chatham, ME42
£2,30005/240.39 mi-2
£1,15006/240.41 miTop Purbeck Road, Chatham, ME42
£1,15006/240.41 mi-2
£1,20007/240.46 miRobertson Villas , New Road , Chatham2
£1,05005/240.46 miSt Margarets Bank, Rochester2

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

0.84 miles away

Nearest school

0.20 miles away

Nearest train station

0.12 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £120,000

September 26, 2024

Listed for £130,000

February 3, 2024

Sold for £112,000

2006

Sold for £110,000

2005

Sold for £55,995

2001

Floor Plans

Description

  • Cash Buyers Only +
  • No Chain +
  • Approximately 8% Yield +
  • Tenant in Situ +
  • Walking Distance To Train Station +
  • 61 Years Lease Remaining +

GUIDE PRICE £120,000 - £140,000

Welcome to a great investment opportunity! Presenting a fantastic 2-bedroom flat that combines convenience and potential for a investor. Situated in close proximity to the station, this property offers easy access to transportation, making it an ideal choice for both tenants and future resale.

This nice 2-bed flat is not only comfy but also comes with ready-made tenants, ensuring a steady income. Being so close to the station adds to its appeal, making it perfect for people who need an easy commute.

If you're thinking of dipping your toes into real estate investment or are already a pro, this property is a solid bet. Chatham is getting more popular, and this flat's location is a plus for potential resale.

Exterior
Communal area. Permit Parking

Key Terms
Chatham is famous for its Naval connection’s, hosting one of the Royal Navy’s main facilities for hundreds of years until it’s closure in 1984. Since the closure the former site, now known as St Mary’s Island, has been transformed and boasts a new retail outlet centre, bars, cafe’s, restaurants, gym and cinema to compliment the harbour and vast array of riverside housing. Part of the original naval history has also been preserved through the Historic Dockyard Trust, which provides an insight into past traditions. The Pentagon shopping centre and high street offer everything that you will need with a wide range of stores. Chatham is a commuter’s dream. High Speed rail links to Stratford International in just over 30 minutes or St Pancras International in just over 38 minutes. London Victoria is also accessible in just over 52 minutes. Trips to the continent are also within easy reach via the Eurostar, which departs from nearby Ebbsfleet. In any part of the town you are never too far from road links, the A2 and M2 are easily accessible in under 5 miles. With the M20 and M25 approximately 10 miles away. Chatham and near-by Rochester offer a fantastic range of primary and secondary schools, as well as the University

Agent Details

Robinson Michael & Jackson, Chatham

01634 557540

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.