2 Bed Flat, Single Let, Tonbridge, TN12 6YB, £225,000

47 The Ridings, Tonbridge, Kent, TN12 6YB - 10 months ago

Sold STC
Leasehold
BTL
ROI: 6%
52 m²
+5 photos

ValuationOvervalued

Sold Prices£130K - £306K
Sold Prices/m²£2.2K/m² - £5K/m²

 

 

Square Metres

52 m²
Price/m²£4.3K/m²

Value Estimate

£162,060

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£56,250

Stamp Duty & Legal Fees

£7,950

Total Cash In

£64,200

 

 

Cash Out

 

Rent Range

£950 - £2,995

Rent Estimate

£1,313

Running Costs/mo

£986

Cashflow/mo

£327

Cashflow/yr

£3,924

ROI

6%

Gross Yield

7%

Local Sold Prices

9 sold prices from £130K to £306K, average is £220K. £2.2K/m² to £5K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£230K04/210.01 mi29, The Ridings, Paddock Wood, Tonbridge, Kent TN12 6YB2
£222K03/220.08 mi20, Waverley Place, Paddock Wood, Tonbridge, Kent TN12 6YA2
£226K08/210.09 mi12, Waverley Place, Paddock Wood, Tonbridge, Kent TN12 6YA2
£190K08/230.45 mi8, Maidstone Road, Paddock Wood, Tonbridge, Kent TN12 6BT2
£200K09/200.48 mi19, Newton Gardens, Paddock Wood, Tonbridge, Kent TN12 6AJ2
£180K08/220.5 mi14, Maidstone Road, Paddock Wood, Tonbridge, Kent TN12 6BT2
£130K01/220.75 mi86, Ringden Avenue, Paddock Wood, Tonbridge, Kent TN12 6EG2
£306K06/232.17 mi9, Webbs Orchard, Matfield, Tonbridge, Kent TN12 7JF2
£220K07/212.68 mi157, Hale Street, East Peckham, Tonbridge, Kent TN12 5HX2

Local Rents

32 rents from £950/mo to £3K/mo, average is £1.8K/mo.

RentDateDistanceAddressBeds 
£1,25009/240.09 miThe Ridings Paddock Wood TN122
£2,15009/240.26 miBlackthorn Way, Paddock Wood3
£1,55009/240.27 miOld Kent Road, Paddock Wood, Tonbridge3
£1,89509/240.3 miHazel Close, Paddock Wood, TN123
£1,89509/240.3 mi-3
£1,35012/240.37 mi-1
£1,45009/240.37 mi-2
£2,10009/240.41 mi-3
£1,59512/240.42 mi-3
£1,70009/240.48 mi-3
£1,80012/240.48 mi-3
£95012/240.48 mi-1
£1,30009/240.49 miMaidstone Road, Paddock Wood, TN12 6EB2
£1,29509/240.5 miMaidstone Road, Paddock Wood, Tonbridge1
£1,25012/240.63 mi-2
£2,00009/240.86 mi-3
£2,00009/240.86 miUtah Road, Paddock Wood, Tonbridge, TN123
£2,00009/240.86 miUtah Road, Paddock Wood, Tonbridge, TN123
£2,00002/240.86 mi-3
£2,97509/241.16 miWatermans Lane, Brenchley3
£1,40002/241.42 mi-2
£1,95009/241.56 miOld Hay, Tonbridge, TN123
£1,95009/241.56 mi-3
£1,20001/251.83 mi-1
£1,60001/251.83 mi-1
£1,65009/241.97 miAlders Road, Capel4
£2,20009/242.03 miHomebush Green, Matfield3
£2,25005/242.17 miCollier Street, Yalding, Maidstone, Kent, ME184
£2,59509/242.21 miThe Green Matfield TN124
£2,49509/242.21 miThe Green Matfield TN123
£1,50003/242.22 mi-2
£2,99507/242.37 mi-4

Local Area Statistics

Population in TN12

29,476

Population in Tonbridge

77,562

Town centre distance

5.36 miles away

Nearest school

0.30 miles away

Nearest train station

0.25 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Buyer's market

Property History

Listed for £225,000

March 8, 2024

Sold for £225,000

2017

Sold for £55,000

1997

Floor Plans

Description

  • Ground Floor Apartment +

  • Allocated Parking Space +

  • Close to Shops & Train Station +

  • Two Bedrooms +

  • Modern Presentation +

  • Communal Garden +

A spacious and well presented modern two bedroom ground floor apartment enjoying allocated parking and ease of access to both shops and train station. In principle the property offers a well appointed internal layout that offers via the communal entrance, a private hallway with doors leading off to the lounge/diner enjoying double glazed french doors onto the rear communal garden and door leading into a modern fitted kitchen with views onto the rear communal garden and ample space for appliances. In addition two well proportioned bedrooms and a modern bathroom w.c. replaced 18 months ago. The ridings is a popular modern development favoured for its ease of access into Paddock Wood town with its train station. This property offers a wide appeal to a wide range of buyers and early viewings are strongly encouraged for this superb example.

Term : 125 Years From 1993 (93 Years remaining)
Service Charge Approx £1,400 per annum
Ground Rent £75.00 per annum

Lease, ground rent and maintenance details have been provided by the seller, but their accuracy cannot be guaranteed, as we may not have seen a copy of the original lease. Should you proceed with the purchase of this property lease details must be verified by your solicitor.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in every case.

TUN240053/2

Agent Details

Your Move, Tunbridge Wells

01892 362225

Next Steps?

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