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2 Bed Flat, Single Let, Chatham, ME4 4XJ, £120,000

Melville Court, Chatham, Kent, ME4 4XJ - a year ago

Under Offer
Leasehold
BTL
ROI: 16%
~68 m²

ValuationUndervalued

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

 

 

Square Metres

~67.64 m²
Price/m²£1.8K/m²

Value Estimate

£144,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£7,200

Total Cash In

£37,200

 

 

Cash Out

 

Rent Range

£1,099 - £1,850

Rent Estimate

£1,100

Running Costs/mo

£615

Cashflow/mo

£485

Cashflow/yr

£5,820

ROI

16%

Gross Yield

11%

Local Sold Prices

29 sold prices from £90K to £500K, average is £195K. £1.3K/m² to £5.1K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£170K08/210.19 miFlat 16, Conway Hall, Conway Mews, Brompton, Gillingham, Kent ME7 5BD2
£195K06/210.26 mi35, College Road, Chatham, Medway ME4 4JS2
£220K06/210.26 mi44, College Road, Chatham, Medway ME4 4JS2
£222K01/210.29 mi7, Marc Brunel Way, Chatham, Medway ME4 4BH2
£195K06/210.29 mi9, Marc Brunel Way, Chatham, Medway ME4 4BH2
£202K01/230.38 miFlat 66, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£190K08/210.4 miFlat 36, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£195K07/210.4 miFlat 17, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£185K05/210.64 mi52b, High Street, Chatham, Medway ME4 4DS2
£166.5K12/200.69 miFlat 14b, Spembley House, New Road Avenue, Chatham, Medway ME4 6BA2
£90K11/220.72 mi50a, High Street, Gillingham, Medway ME7 1AZ2
£172.5K12/210.75 miFlat 3, Aylmer Court, Saunders Street, Gillingham, Medway ME7 1HX2
£200K01/230.75 miFlat 3, Aylmer Court, Saunders Street, Gillingham, Medway ME7 1HX2
£130K03/210.75 miFlat 23, Camborne Manor, Cross Street, Gillingham, Kent ME7 1JX2
£152K10/220.75 miFlat 4, Tintagel Manor, Skinner Street, Gillingham, Medway ME7 1LH2
£175K04/230.8 mi4, Bingley Road, Rochester, Medway ME1 1BZ2
£120K11/220.8 miFlat 1, Royal Oak House, Doust Way, Rochester, Medway ME1 1FF2
£260K10/230.86 mi7, Five Bells Lane, Rochester, Medway ME1 1BW2
£217.5K09/220.86 miFlat 64, Lyon Court, High Street, Rochester, Medway ME1 1HX2
£215K01/210.87 miFlat 35, Lyon Court, High Street, Rochester, Medway ME1 1HX2
£185K11/230.92 mi30, Port Rise, Chatham, Medway ME4 6NQ2
£205K08/230.92 mi18, Port Rise, Chatham, Medway ME4 6NQ2
£185K10/210.96 miFlat 3, Faraday House, High Street, Rochester, Medway ME1 1EZ2
£210K05/210.96 miFlat 9, Faraday House, High Street, Rochester, Medway ME1 1EZ2
£310K10/220.99 miFlat 117, The Peninsula, Pegasus Way, Gillingham, Medway ME7 1GE2
£257.5K05/231 mi6, Davy Court, Rochester, Medway ME1 1AE2
£220K11/211 mi14, Davy Court, Rochester, Medway ME1 1AE2
£500K11/201 mi3, City Way, Rochester, Medway ME1 2AX2
£240K05/211 mi19, Davy Court, Rochester, Medway ME1 1AE2

Local Rents

50 rents from £1.1K/mo to £1.9K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,10005/240.04 miPleasant Row, Gillingham2
£1,09905/240.07 miFlat , The Old Coal Yard, Westcourt Street, Gillingham2
£1,50006/240.1 miBrompton Hill Chatham ME42
£1,50007/240.1 miBrompton Hill Chatham ME42
£1,40001/250.13 mi-2
£1,30005/240.13 miCommissiners Court, Chatham2
£1,20012/240.15 mi-2
£1,50005/240.17 mi-2
£1,50004/250.17 mi-2
£1,85003/250.37 mi-2
£1,35007/240.37 miBarrier Road, Chatham2
£1,47504/250.38 mi-2
£1,30005/240.39 miBarrier Road, Chatham, Kent, ME42
£1,55005/240.39 miThe Eye, Barrier Road, Chatham, Kent, ME42
£1,45005/240.39 miThe Eye, Barrier Road, Chatham, Kent, ME42
£1,45005/240.39 miThe Eye, Barrier Road, Chatham, Kent, ME42
£1,40005/240.41 miWhiffens Avenue Chatham ME42
£1,45005/240.41 miWhiffens Avenue Chatham ME42
£1,40005/240.41 miWhiffens Avenue Chatham ME42
£1,50005/240.41 miWhiffens Avenue Chatham ME42
£1,45005/240.41 miWhiffens Avenue Chatham ME42
£1,40005/240.41 miWhiffens Avenue Chatham ME42
£1,55005/240.41 miWhiffens Avenue Chatham ME42
£1,50005/240.41 miWhiffens Avenue Chatham ME42
£1,40005/240.41 miWhiffens Avenue Chatham ME42
£1,49505/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,59506/240.41 miWhiffens Avenue Chatham ME42
£1,64507/240.41 miWhiffens Avenue Chatham ME42
£1,59507/240.41 miWhiffens Avenue Chatham ME42
£1,59507/240.41 miWhiffens Avenue Chatham ME42
£1,59507/240.41 miWhiffens Avenue Chatham ME42
£1,59507/240.41 miWhiffens Avenue Chatham ME42
£1,59507/240.41 miWhiffens Avenue Chatham ME42
£1,59507/240.41 miWhiffens Avenue Chatham ME42
£1,65001/250.44 mi-2
£1,55005/240.44 miWhiffens Avenue Chatham ME42
£1,55005/240.44 miWhiffens Avenue Chatham ME42
£1,55005/240.44 miWhiffens Avenue Chatham ME42
£1,55005/240.44 miWhiffens Avenue Chatham ME42
£1,45005/240.44 miWhiffens Avenue Chatham ME42
£1,15008/240.45 miWhiffens Avenue, Chatham2
£1,52507/240.56 miMedway Street Chatham ME42
£1,50005/240.59 miHigh Street, Chatham, ME42
£1,30005/240.59 miPrincess Mary Avenue, Chatham, ME42

Links

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

1.60 miles away

Nearest school

0.50 miles away

Nearest train station

0.81 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

January 23, 2025

Listed for £125,000

April 19, 2024

Floor Plans

Description

Double glazed door to entrance hall, laminate flooring,cupboard

Bedroom1:2.7m x 4.2m Double glazed window to front,radiator,carpet

Bathroom:Panelled bath,sink in vanity,tiled floors and walls

W/C: Tiled,radiator

Bedroom2:4.5m X 3.7m Double glazed window to rear, radiator,laminate flooring

Bedroom3:3.6m x2m Radiator

Kitchen,3.5m x 2.2m Double glazed window to front,radiator,boiler,range of floor tiles.stainless steel oven and extractor fan

Lease - 84 years

Agent Details

Purpleproperty, Gillingham

01634 563676

Next Steps?

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

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