2 Bed Bungalow, Refurb/BRRR, Canterbury, CT4 6YA, £650,000

Gate Lane, Rhodes Minnis, Canterbury, CT4 6YA - 2 views - 9 months ago

Refurb/BRRR
Planning
~120 m²
+14 photos

ValuationOvervalued

Sold Prices£235K - £480K
Sold Prices/m²£1.9K/m² - £6.1K/m²

 

 

Square Metres

~120 m²
Price/m²£5.4K/m²

Value Estimate

£598,198

 

 

End Value (After Refurb)

£542,169

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£162,500

Stamp Duty & Legal Fees

£40,700

Refurb Costs

£57,304

Bridging Loan Interest

£17,063

Total Cash In

£279,316

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£542,169

Mortgage (After Refinance)

£406,627

Mortgage LTV

75%

Cash Left In

£279,316

Equity

£135,542

Rent Range

£950 - £2,900

Rent Estimate

£1,762

Running Costs/mo

£2,067

Cashflow/mo

£-305

Cashflow/yr

£-3,656

Gross Yield

3%

Local Sold Prices

34 sold prices from £235K to £480K, average is £340K. £1.9K/m² to £6.1K/m², average is £5.1K/m².

PriceDateDistanceAddressBeds 
£324K06/210.39 miBriar Gate, White Horse Lane, Rhodes Minnis, Canterbury, Kent CT4 6XP2
£390K03/210.7 miHillcroft, Longage Hill, Rhodes Minnis, Canterbury, Kent CT4 6XT2
£235K05/231.47 mi1, Old Cottages, Elham, Canterbury, Kent CT4 6UP2
£325K02/211.48 mi5, Fairfield, Elham, Canterbury, Kent CT4 6UT2
£375K11/211.48 mi4, Park Lane, Elham, Canterbury, Kent CT4 6UU2
£350K03/211.5 miDenbrae, Brady Road, Lyminge, Folkestone, Kent CT18 8EU2
£340K04/211.51 mi5, Hogben Close, Lyminge, Folkestone, Kent CT18 8ND2
£390K06/211.52 miBruton Lodge, High Street, Elham, Canterbury, Kent CT4 6SX2
£345K01/211.54 miSeaforth, Barton Field, Lyminge, Folkestone, Kent CT18 8EX2
£347.5K10/221.54 mi26, Ethelburga Drive, Lyminge, Folkestone, Kent CT18 8JJ2
£268K09/211.54 mi24, Ethelburga Drive, Lyminge, Folkestone, Kent CT18 8JJ2
£302.5K04/211.54 mi29, Ethelburga Drive, Lyminge, Folkestone, Kent CT18 8JJ2
£315K12/201.54 mi6, Ethelburga Drive, Lyminge, Folkestone, Kent CT18 8JJ2
£355K09/221.54 mi25, Ethelburga Drive, Lyminge, Folkestone, Kent CT18 8JJ2
£365K03/211.55 mi7, Hog Green, Elham, Canterbury, Kent CT4 6TU2
£410K01/211.55 mi15, Hog Green, Elham, Canterbury, Kent CT4 6TU2
£480K06/231.55 mi1, Hog Green, Elham, Canterbury, Kent CT4 6TU2
£270K04/211.56 mi5, Lyndon Way, Lyminge, Folkestone, Kent CT18 8JD2
£365K02/231.58 mi7, Mount Pleasant Close, Lyminge, Folkestone, Kent CT18 8HF2
£315K11/211.59 mi50, Silverlands Road, Lyminge, Folkestone, Kent CT18 8JG2
£344K04/231.59 mi42, Silverlands Road, Lyminge, Folkestone, Kent CT18 8JG2
£300K12/221.59 miSouthgate, Woodland Road, Lyminge, Folkestone, Kent CT18 8ET2
£450K02/231.59 miCopland, Woodland Road, Lyminge, Folkestone, Kent CT18 8ET2
£360K12/201.62 mi1, Robus Close, Lyminge, Folkestone, Kent CT18 8JF2
£325K02/211.62 mi4, Robus Close, Lyminge, Folkestone, Kent CT18 8JF2
£255K05/221.69 mi4, Kimberley Terrace, Lyminge, Folkestone, Kent CT18 8JB2
£315K09/211.7 mi3, Kimberley Terrace, Lyminge, Folkestone, Kent CT18 8JB2
£340K03/231.73 miMalvern, High Street, Lyminge, Folkestone, Kent CT18 8EN2
£268K02/231.77 mi15, The Sidings, Lyminge, Folkestone, Kent CT18 8HH2
£320K05/231.85 mi14, Mayfield Road, Lyminge, Folkestone, Kent CT18 8HL2
£340K02/211.9 mi2, Greenbanks, Lyminge, Folkestone, Kent CT18 8HG2
£312.5K12/201.9 mi27, Greenbanks, Lyminge, Folkestone, Kent CT18 8HG2
£354K09/211.9 mi11, Greenbanks, Lyminge, Folkestone, Kent CT18 8HG2
£327.5K01/211.91 mi68, Station Road, Lyminge, Folkestone, Kent CT18 8HJ2

Local Rents

13 rents from £950/mo to £2.9K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£2,80012/241.18 miCanterbury Road, Ottinge, Canterbury, CT44
£1,37512/241.35 miLower Court Cottage, Shuttlesfield Lane, Ottinge, Canterbury, Kent, CT4 6XJ2
£1,90012/241.37 miElham, Nr Canterbury, Kent3
£95012/241.47 miThe Row, Elham, Canterbury, CT42
£1,54012/241.49 miFlint Cottage, Elham Park, Elham, Kent2
£1,50012/241.5 miHigh Street, Elham, Canterbury3
£1,39512/241.52 miHigh Street, Elham, Canterbury, Kent, CT43
£2,90004/241.74 miHigh Street, Lyminge, Folkestone, CT185
£2,00012/241.85 miBossingham Road, Stelling Minnis3
£2,30012/242 miFryarne Park Farm, Stelling Minnis5
£1,70012/242.09 miFernham, Stelling Minnis3
£1,30004/252.17 mi-2
£1,20009/242.36 miTo Let - Elmsted, Ashford2

Local Area Statistics

Population in ct4

16,587

Population in Canterbury

65,078

Town centre distance

9.33 miles away

Nearest school

1.40 miles away

Nearest train station

4.30 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+49%

Sales demand

Buyer's market

Capital growth (5yrs)

+25%

Property History

Listed for £650,000

July 5, 2024

Floor Plans

Description

  • FANTASTIC DEVELOPMENT OPPORTUNITY WITH LAND +
  • A two bedroom detached bungalow in an idyllic location +
  • Now in need of renovation or replaced subject to necessary planning permissions +
  • The property has gardens and grounds approximately 5 acres in total +
  • Driveway parking +
  • Large mature garden, fenced paddocks, five stables, field shelter, orchard including apples and fruit +
  • Council Tax - Band C +
  • Tenure - Freehold +

FANTASTIC DEVELOPMENT OPPORTUNITY WITH LAND! A two bedroom detached bungalow in an idyllic location and now in need of renovation or replaced subject to necessary planning permissions. After sixteen years of living in the beautiful setting the vendor is relocating. The property has gardens and grounds approximately 5 acres in total. Accommodation comprises: ground floor - entrance porch, bathroom/WC, kitchen, side lobby, bedroom one, bedroom two, sitting room. First floor - Landing and large loft room. Outside - Garage, large mature garden, fenced paddocks, separate field access located to the far end of the land, five stables, double field shelter, workshop, orchard including apples. Driveway parking. EPC RATING = E

Agent Details

Laing Bennett Estate & Letting Agents, Lyminge, Folkestone

01303 761733

Next Steps?

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

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