3 Bed Semi-Detached House, Refurb/BRRR, Colchester, CO4 0AA, £315,000

Ipswich Road, Colchester, CO4 0AA - 5 views - a year ago

Refurb/BRRR

ROI: 5%

~93 m²

+4 photos

ValuationFair Value

Sold Prices	£165K - £392K
Sold Prices/m²	£2.3K/m² - £4.8K/m²

Square Metres	~93 m²
Price/m²	£3.4K/m²
Value Estimate	£311,610£311,610

End Value (After Refurb)	£296,250£296,250

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£78,750£78,750
Stamp Duty & Legal Fees	£13,900£13,900
Refurb Costs	£44,000£44,000
Bridging Loan Interest	£8,269£8,269
Total Cash In	£146,669£146,669

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£296,250£296,250
Mortgage (After Refinance)	£222,188£222,188
Mortgage LTV	75%75%
Cash Left In	£146,669£146,669
Equity	£74,063£74,063
Rent Range	£1,100 - £3,900£1,100 - £3,900
Rent Estimate	£1,901
Running Costs/mo	£1,326£1,326
Cashflow/mo	£575£575
Cashflow/yr	£6,900£6,900
ROI	5%5%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £165K to £392K, average is £285K. £2.3K/m² to £4.8K/m², average is £3.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£260K	04/21	0 mi	92, Ipswich Road, Colchester, Essex CO4 0AA	£2,500	104	3	Semi-Detached House
£392K	12/20	0.04 mi	53, Ipswich Road, Colchester, Essex CO4 0EQ	£2,970	132	3	Detached House
£220K	01/21	0.09 mi	12, St Annes Road, Colchester, Essex CO4 0BN	£3,099	71	3	Terraced House
£217K	11/20	0.14 mi	41, Dilbridge Road West, Colchester, Essex CO4 0BJ	£3,056	71	3	Terraced House
£350K	02/23	0.14 mi	35, St Andrews Gardens, Colchester, Essex CO4 3EQ	£4,605	76	3	Detached House
£370K	07/23	0.15 mi	15, St Andrews Gardens, Colchester, Essex CO4 3EQ	-	-	3	Detached House
£317.5K	07/23	0.15 mi	88, Broadlands Way, Colchester, Essex CO4 0AR	£3,911	81	3	Semi-Detached House
£278K	11/21	0.17 mi	19, Edison Gardens, Colchester, Essex CO4 0AJ	£3,432	81	3	Semi-Detached House
£310K	06/23	0.17 mi	302, Cowdray Avenue, Colchester, Essex CO1 1YA	£4,382	71	3	Terraced House
£275K	09/21	0.17 mi	156, Ipswich Road, Colchester, Essex CO4 0AF	-	-	3	Semi-Detached House
£311.5K	07/21	0.17 mi	48, St Andrews Gardens, Colchester, Essex CO4 3EH	£3,708	84	3	Detached House
£220K	06/21	0.18 mi	308, Cowdray Avenue, Colchester, Essex CO1 1YA	-	-	3	Terraced House
£290K	05/21	0.18 mi	9, Rouse Way, Colchester, Essex CO1 2TT	-	-	3	Terraced House
£230K	05/21	0.19 mi	6, Valentines Drive, Colchester, Essex CO4 0AG	£3,194	72	3	Semi-Detached House
£288.5K	06/21	0.2 mi	18, Ripple Way, Colchester, Essex CO4 0AW	£3,796	76	3	Semi-Detached House
£282.5K	05/21	0.21 mi	22, Ripple Way, Colchester, Essex CO4 0AW	£3,669	77	3	Detached House
£200K	11/20	0.22 mi	34, Ipswich Road, Colchester, Essex CO1 2YE	£2,981	67	3	Terraced House
£292.5K	01/21	0.22 mi	26, Ipswich Road, Colchester, Essex CO1 2YE	£3,179	92	3	Terraced House
£238K	02/23	0.22 mi	34, Ipswich Road, Colchester, Essex CO1 2YE	£3,547	67	3	Terraced House
£365K	11/22	0.25 mi	7, Wells Road, Colchester, Essex CO1 2YN	-	-	3	Semi-Detached House
£320.5K	12/20	0.25 mi	40, Broadlands Way, Colchester, Essex CO4 0AN	£3,957	81	3	Detached House
£362K	03/21	0.25 mi	2, Bury Close, Colchester, Essex CO1 2YR	£3,448	105	3	Detached House
£300K	06/21	0.26 mi	4, Harold Collins Place, Colchester, Essex CO1 2GQ	£3,488	86	3	Terraced House
£245K	06/23	0.26 mi	18, Fairhead Road North, Colchester, Essex CO4 0BW	£3,490	70	3	Terraced House
£306K	05/23	0.26 mi	8, Harold Collins Place, Colchester, Essex CO1 2GQ	£3,000	102	3	Terraced House
£215K	03/21	0.28 mi	160, Goring Road, Colchester, Essex CO4 0DB	£2,263	95	3	Terraced House
£274K	02/23	0.28 mi	18, Havering Close, Colchester, Essex CO4 0AU	£3,806	72	3	Semi-Detached House
£205K	09/21	0.29 mi	34, Gascoigne Road, Colchester, Essex CO4 0BP	£2,887	71	3	Terraced House
£195K	11/20	0.29 mi	16, Harwich Road, Colchester, Essex CO4 3BN	£2,910	67	3	Terraced House
£275K	03/21	0.29 mi	16, Guildford Road, Colchester, Essex CO1 2YL	£2,806	98	3	Detached House
£275K	07/23	0.3 mi	38, Crown Bays Road, Colchester, Essex CO4 0BU	£3,215	86	3	Semi-Detached House
£307K	06/23	0.3 mi	26, Norfolk Crescent, Colchester, Essex CO4 0AX	£2,981	103	3	Detached House
£288K	05/21	0.3 mi	24, River Bank Walk, Colchester, Essex CO1 1QJ	£3,692	78	3	Terraced House
£290K	12/20	0.3 mi	12, Carlisle Close, Colchester, Essex CO1 2YT	£3,258	89	3	Semi-Detached House
£305.5K	11/21	0.3 mi	25, Harwich Road, Colchester, Essex CO4 3BP	£2,966	103	3	Detached House
£337K	08/22	0.31 mi	294, Cowdray Avenue, Colchester, Essex CO1 1XZ	£4,266	79	3	Semi-Detached House
£303K	03/21	0.31 mi	21, Guildford Road, Colchester, Essex CO1 2RT	£3,367	90	3	Semi-Detached House
£165K	06/23	0.33 mi	10, East Street, Colchester, Essex CO1 2TX	-	-	3	Terraced House
£290K	04/23	0.33 mi	141, Harwich Road, Colchester, Essex CO4 3DB	£3,494	83	3	Semi-Detached House
£240K	01/21	0.33 mi	141, Harwich Road, Colchester, Essex CO4 3DB	£2,892	83	3	Semi-Detached House
£285K	11/22	0.33 mi	7, York Place, Colchester, Essex CO1 2RF	£3,434	83	3	Terraced House
£285K	12/22	0.33 mi	19, York Place, Colchester, Essex CO1 2RF	£3,353	85	3	Semi-Detached House
£228K	12/20	0.35 mi	163, Harwich Road, Colchester, Essex CO4 3DB	£2,452	93	3	Semi-Detached House
£220K	09/21	0.35 mi	41, Greenstead Road, Colchester, Essex CO1 2SZ	£3,020	73	3	Detached House
£285K	04/21	0.36 mi	17, Booth Avenue, Colchester, Essex CO4 3BB	£3,813	75	3	Semi-Detached House
£260K	06/21	0.37 mi	38, Lincoln Way, Colchester, Essex CO1 2RJ	-	-	3	Semi-Detached House
£313.5K	11/22	0.37 mi	24, Hereford Road, Colchester, Essex CO1 2RD	-	-	3	Terraced House
£260K	06/21	0.38 mi	38, Lincoln Way, Colchester, Essex CO1 2RJ	-	-	3	Semi-Detached House
£367K	03/23	0.38 mi	48, Guildford Road, Colchester, Essex CO1 2RZ	£4,078	90	3	Detached House
£365K	08/22	0.38 mi	79, Guildford Road, Colchester, Essex CO1 2RZ	£4,803	76	3	Semi-Detached House

Local Rents

39 rents from £1.1K/mo to £3.9K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,300	03/24	0.17 mi	Cowdray Avenue,Colchester, CO1	3	Semi-Detached House
£1,300	05/24	0.17 mi	Cowdray Avenue,Colchester, CO1	3	Semi-Detached House
£1,300	05/24	0.17 mi	Cowdray Avenue,Colchester, CO1	3	Semi-Detached House
£1,500	12/24	0.2 mi	-	3	Flat
£1,850	05/24	0.2 mi	Riverside Place, Colchester	3	Terraced House
£1,450	04/24	0.21 mi	Rouse Way, Colchester, CO1 2TT	3	Detached House
£1,275	01/25	0.24 mi	-	3	Flat
£1,400	03/24	0.29 mi	East Street, Colchester	3	Terraced House
£2,700	05/24	0.29 mi	-	3	Flat
£2,995	02/24	0.29 mi	-	3	Flat
£2,500	04/24	0.29 mi	-	3	Semi-Detached House
£3,100	04/24	0.29 mi	-	3	Flat
£3,900	12/24	0.29 mi	-	3	Flat
£3,500	12/24	0.29 mi	-	3	Flat
£3,900	12/24	0.29 mi	-	3	Flat
£3,500	04/25	0.29 mi	-	3	Flat
£1,550	04/25	0.31 mi	-	3	Terraced House
£1,450	03/24	0.35 mi	-	3	Terraced House
£1,450	03/24	0.35 mi	Meander Mews, Colchester, CO1	3	Terraced House
£1,450	03/24	0.35 mi	Meander Mews, Colchester, CO1	3	Terraced House
£1,650	02/24	0.36 mi	-	3	Semi-Detached House
£1,600	05/24	0.36 mi	-	3	Semi-Detached House
£1,250	01/25	0.36 mi	-	3	Semi-Detached House
£1,600	03/25	0.36 mi	-	3	Semi-Detached House
£1,550	02/25	0.36 mi	-	3	Terraced House
£1,450	03/24	0.41 mi	Reed Walk , Colchester, Essex, CO1 1QE	3	Terraced House
£1,500	02/24	0.42 mi	-	3	Semi-Detached House
£3,900	03/25	0.42 mi	-	3	Semi-Detached House
£1,650	03/25	0.42 mi	-	3	Semi-Detached House
£1,300	05/24	0.47 mi	Smythies Avenue, Colchester, Essex, CO1	3	Semi-Detached House
£1,400	05/24	0.48 mi	-	3	Semi-Detached House
£1,375	12/24	0.49 mi	St. Andrews Avenue, Colchester, Essex, CO4	3	Detached House
£1,100	05/24	0.5 mi	East Hill, Colchester	3	Terraced House
£1,400	12/24	0.5 mi	-	3	Semi-Detached House
£1,450	03/24	0.53 mi	East Hill, Colchester, Essex, CO1	3	Flat
£1,300	12/24	0.59 mi	Dahlia Walk, Colchester	3	Flat
£1,300	12/24	0.59 mi	Dahlia Walk, COLCHESTER	3	Flat
£1,450	03/24	0.61 mi	Greenstead Road, Colchester, Essex, CO1	3	Detached House
£2,200	12/24	0.61 mi	St Andrews Avenue, CO4 3AQ	3	Detached House

Local Area Statistics

Population in CO4	47,78947,789
Population in Colchester	214,734214,734
Town centre distance	1.37 miles away1.37 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.76 miles away0.76 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-16%-16%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+16%+16%

Property History

Listed for £315,000

May 10, 2024

Floor Plans

Description

Excellent Potential and No Onward Chain +
Light Modernisation and Updating Required +
Three Bedrooms +
Three Reception Rooms +
Shower Room +
Double Glazed Windows +
Gas Central Heating - fitted December 2023 (not tested by Elms Price and Co) +
Off Road Parking to Front +
Enclosed Garden to Rear +
Close to Hythe Station and Colchester's Mainline Railway Station +

EXCELLENT POTENTIAL...situated in a NON-ESTATE POSITION and offering convenient access to the A12, we offer for sale this double bay windowed semi-detached house IN NEED OF LIGHT MODERNISATION AND UPDATING. The property benefits from NO CHAIN, three bedrooms and THREE RECEPTION ROOMS, enclosed rear garden, OFF ROAD PARKING. Colchester's mainline railway station and Hythe train station are both within close proximity.

Double glazed entrance door to:

SPACIOUS ENTRANCE HALL Stairs to first floor, radiator.

SITTING ROOM 14' 2" x 10' 2" into bay window (4.32m x 3.1m) Double glazed bay window to front, TV point, radiator.

DINING ROOM 10' 11" x 10' 7" (3.33m x 3.23m) Double glazed patio doors to garden, picture rail, radiator.

FURTHER RECEPTION ROOM 10' 2" x 8' 11" (3.1m x 2.72m) Double glazed window to side, storage cupboard, understair cupboard.

KITCHEN 9' 2" x 9' 0" (2.79m x 2.74m) Double glazed windows to three elevations, double glazed door to side, sink unit set into work top, storage cupboards, radiator, hob, space for washing machine.

SPACIOUS FIRST FLOOR LANDING Double glazed window to side.

BEDROOM ONE 14' 7" x 11' 3" (4.44m x 3.43m) Double glazed window to front, radiator.

BEDROOM TWO 11' 7" x 10' 6" (3.53m x 3.2m) Double glazed window to rear, radiator.

BEDROOM THREE 10' 3" x 7' 9" (3.12m x 2.36m) Double glazed window to rear, radiator.

SHOWER ROOM Shower cubicle, WC and wash basin, double glazed window to front, radiator.

OUTSIDE Off road parking to front for two cars.

Gated side access to rear garden.

The rear garden is enclosed to all boundaries; patio, laid lawn, shrubs.

ADDITIONAL INFORMATION Council tax band : C.

Local authority : Colchester City Council.

Energy rating : E.

Agent Details

Elms Price & Co, Colchester

01206 586140

Next Steps?

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

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