2 Bed Bungalow, Refurb/BRRR, Chelmsford, CM1 3EL, £385,000

76 Mayfield Road, Chelmsford, Essex, CM1 3EL - 6 views - 10 months ago

Sold STC

Refurb/BRRR

ROI: 1%

~74 m²

+5 photos

ValuationOvervalued

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Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (26%)	£98,750£98,750
Stamp Duty & Legal Fees	£20,300£20,300
Refurb Costs	£35,917£35,917
Bridging Loan Interest	£10,369£10,369
Total Cash In	£167,086£167,086

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£392,500£392,500
Mortgage (After Refinance)	£294,375£294,375
Mortgage LTV	75%75%
Cash Left In	£167,086£167,086
Equity	£98,125£98,125
Rent Range	£895 - £3,000£895 - £3,000
Rent Estimate	£1,653
Running Costs/mo	£1,577£1,577
Cashflow/mo	£76£76
Cashflow/yr	£912£912
ROI	1%1%
Gross Yield	5%5%

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Local Rents

50 rents from £895/mo to £3K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,575	05/24	0.06 mi	Mayfield Road, CM1	4	Semi-Detached House
£1,250	03/24	0.17 mi	Millfields, Writtle, CM1	2	Flat
£2,000	04/24	0.18 mi	Lordship Road, Writtle, CM1	3	Bungalow
£2,150	04/24	0.32 mi	Redwood Place, Writtle, CHELMSFORD	4	Flat
£1,950	04/24	0.32 mi	Redwood Place, Writtle, CHELMSFORD	3	Flat
£2,950	04/24	0.32 mi	Redwood Place, Writtle, CHELMSFORD	4	House
£1,600	03/24	0.36 mi	Victoria Road, CM1	3	Detached House
£1,350	02/25	0.39 mi	-	2	Flat
£1,500	04/24	0.41 mi	Margaret Roding	2	Flat
£1,800	04/24	0.41 mi	Margaret Roding	3	Flat
£1,500	04/24	0.48 mi	Ongar Road, Writtle, Essex	2	Semi-Detached House
£1,250	02/25	0.49 mi	-	2	Flat
£1,425	05/24	0.49 mi	Fosters Close, Writtle, CHELMSFORD	2	House
£950	07/23	0.5 mi	-	1	Flat
£995	04/24	0.51 mi	Melba Court, Writtle, Chelmsford, CM1	1	Flat
£995	04/24	0.51 mi	Melba Court, Writtle, Chelmsford, CM1	1	Flat
£1,700	03/25	0.53 mi	-	3	Terraced House
£1,650	04/24	0.75 mi	Foremans Roxwell Road, Chelmsford	3	House
£1,650	05/24	0.75 mi	Foremans Roxwell Road, Chelmsford	3	House
£1,600	04/24	0.94 mi	Ongar Road, Writtle	3	Bungalow
£1,600	08/23	1.04 mi	-	3	Semi-Detached House
£1,750	04/24	1.06 mi	Milburn Crescent, CHELMSFORD	3	House
£1,750	05/24	1.06 mi	Milburn Crescent, CHELMSFORD	3	House
£1,600	09/23	1.07 mi	-	3	Terraced House
£1,650	01/24	1.09 mi	-	3	Semi-Detached House
£3,000	12/24	1.13 mi	-	5	Detached House
£1,700	03/24	1.18 mi	-	3	Semi-Detached House
£895	09/24	1.19 mi	-	1	Flat
£1,250	02/25	1.19 mi	-	1	Flat
£1,000	04/24	1.19 mi	Avon Road, Chelmsford, Essex, CM1	2	Flat
£1,675	03/25	1.23 mi	-	3	Semi-Detached House
£1,800	04/24	1.23 mi	Chignal Road, Chelmsford	3	Detached House
£1,700	12/23	1.25 mi	-	3	Terraced House
£1,700	12/23	1.25 mi	-	3	Terraced House
£1,300	01/24	1.27 mi	-	2	Flat
£1,450	01/25	1.27 mi	-	2	Flat
£3,000	03/25	1.28 mi	-	4	Detached House
£1,850	03/24	1.33 mi	Writtle Road, Chelmsford, CM1	3	Detached House
£1,500	04/24	1.35 mi	Roxwell Road, Chelmsford, Essex, CM1	2	Flat
£1,300	03/24	1.37 mi	Highfield Road, Chelmsford, CM1	2	Flat
£1,280	03/24	1.37 mi	Highfield Road, Chelmsford, CM1	2	Flat
£1,280	05/24	1.37 mi	-	2	Flat
£1,250	05/23	1.38 mi	-	2	Flat
£1,300	01/25	1.38 mi	-	2	Flat
£1,800	04/24	1.4 mi	Dene Court, CHELMSFORD	3	Semi-Detached House
£1,800	05/24	1.4 mi	Dene Court, CHELMSFORD	3	Semi-Detached House
£1,600	04/24	1.4 mi	Avon Road, Chelmsford	3	Semi-Detached House
£2,600	06/24	1.41 mi	-	4	Detached House
£2,150	03/24	1.43 mi	St Fabians Drive, Chelmsford, CM1	4	Detached House
£2,150	03/24	1.43 mi	-	4	Detached House

Local Area Statistics

Population in CM1	62,61762,617
Population in Chelmsford	174,693174,693
Town centre distance	1.88 miles away1.88 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	2.01 miles away2.01 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+18%+18%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+11%+11%

Property History

Price changed to £385,000

December 4, 2024

Listed for £395,000

May 29, 2024

Sold for £275,000

2007

Floor Plans

Description

Semi-Detached Bungalow +
Desirable Cul-de-Sac +
Lounge +
Two Double Bedrooms +
Refitted Shower Room +
Fitted Kitchen +
Conservatory +
Garage and Driveway +

Nestled in the charming village of Writtle in a sought-after cul-de-sac is this delightful semi-detached bungalow. Writtle village boasts an abundance of amenities to include schools, supermarkets, pubs, restaurants, library, Post Office, beautiful village green with historical church, and a regular bus service to Chelmsford City centre with mainline rail links to London Liverpool Street.

Boasting two well-proportioned bedrooms, this property is ideal for those seeking a peaceful retreat. The spacious garden provides a tranquil outdoor space, perfect for relaxing or entertaining guests. Additionally, the property benefits from a refitted wet room and a fitted kitchen along with a conservatory. The property is in need of modernisation.

The property benefits from off-street parking and a garage, offering ample storage and convenience. The property is being offered for sale with no onward chain. Contact us today to arrange a viewing.

Agent Details

Beresfords, Writtle

01245 945554

Next Steps?

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

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