2 Bed Terraced House, Refurb/BRRR, Letchworth Garden City, SG6 4BZ, £285,000

61 Chagny Close, Letchworth Garden City, Hertfordshire, SG6 4BZ - 9 months ago

Sold STC
Leasehold
Refurb/BRRR
~68 m²
+7 photos

ValuationUndervalued

Sold Prices£140K - £655K
Sold Prices/m²£2.4K/m² - £7.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.2K/m²

Value Estimate

£293,550
BMV3%

 

 

End Value (After Refurb)

£293,812

Uplift in Value

+3%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£71,250

Stamp Duty & Legal Fees

£11,500

Refurb Costs

£32,460

Bridging Loan Interest

£7,481

Total Cash In

£124,441

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£293,812

Mortgage (After Refinance)

£220,359

Mortgage LTV

75%

Cash Released

£6,609

Cash Left In

£117,832

Equity

£73,453

Rent Range

£565 - £1,795

Rent Estimate

£1,122

Running Costs/mo

£1,163

Cashflow/mo

£-41

Cashflow/yr

£-487

Gross Yield

5%

Local Sold Prices

51 sold prices from £140K to £655K, average is £365K. £2.4K/m² to £7.5K/m², average is £4.5K/m².

PriceDateDistanceAddressBeds 
£260K12/200.03 mi43, Chagny Close, Letchworth Garden City, Hertfordshire SG6 4BZ2
£235K01/210.12 mi47, Horace Gay Gardens, Letchworth Garden City, Hertfordshire SG6 4XP2
£266K01/210.12 mi67, Horace Gay Gardens, Letchworth Garden City, Hertfordshire SG6 4XP2
£260K06/210.14 mi51, Horace Gay Gardens, Letchworth Garden City, Hertfordshire SG6 4XP2
£495K09/220.15 mi47, Haselfoot, Letchworth Garden City, Hertfordshire SG6 4DE2
£375K03/210.15 mi45, Haselfoot, Letchworth Garden City, Hertfordshire SG6 4DE2
£332.5K03/210.19 mi16, Spring Road, Letchworth Garden City, Hertfordshire SG6 3SQ2
£230K05/230.27 mi87b, Icknield Way, Letchworth Garden City, Hertfordshire SG6 4AU2
£295K05/210.29 mi41, Campers Avenue, Letchworth Garden City, Hertfordshire SG6 3SP2
£490K03/230.33 mi36, Runnalow, Letchworth Garden City, Hertfordshire SG6 4DT2
£282K04/210.35 mi3, Old Westbury, Letchworth Garden City, Hertfordshire SG6 3NB2
£255K03/210.39 mi33, Warren Close, Letchworth Garden City, Hertfordshire SG6 4EH2
£262K10/210.39 mi11, Warren Close, Letchworth Garden City, Hertfordshire SG6 4EH2
£140K02/210.4 mi2, Coopers Field, Letchworth Garden City, Hertfordshire SG6 4XQ2
£375K01/230.41 mi69, Eldefield, Letchworth Garden City, Hertfordshire SG6 4BL2
£255K10/200.43 mi9, Fullers Court, Letchworth Garden City, Hertfordshire SG6 4XT2
£435K11/200.44 mi3, Longmead, Letchworth Garden City, Hertfordshire SG6 4HW2
£425K03/210.44 mi11, Longmead, Letchworth Garden City, Hertfordshire SG6 4HW2
£475K12/200.45 mi43, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£430K02/210.45 mi51, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£465K02/210.45 mi23, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£428K06/210.45 mi45, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£655K11/220.49 miGreenways, Nevells Green, Letchworth Garden City, Hertfordshire SG6 4UA2
£420K07/230.51 mi1, Lytton Avenue, Letchworth Garden City, Hertfordshire SG6 3HT2
£365K04/230.52 mi14, Furlay Close, Letchworth Garden City, Hertfordshire SG6 4YL2
£375K07/230.52 mi12, Furlay Close, Letchworth Garden City, Hertfordshire SG6 4YL2
£390K06/210.55 mi110, Pixmore Way, Letchworth Garden City, Hertfordshire SG6 3TR2
£218K01/210.58 mi32, Oaktree Close, Letchworth Garden City, Hertfordshire SG6 3XY2
£385K11/210.58 mi20, Wheat Hill, Letchworth Garden City, Hertfordshire SG6 4HJ2
£400K03/210.6 mi1, Wheat Hill, Letchworth Garden City, Hertfordshire SG6 4HH2
£550K03/210.64 mi82, Rushby Mead, Letchworth Garden City, Hertfordshire SG6 1RY2
£605K12/220.64 mi84, Rushby Mead, Letchworth Garden City, Hertfordshire SG6 1RY2
£300K07/210.65 mi28, Kite Way, Letchworth Garden City, Hertfordshire SG6 4YQ2
£445K01/210.66 mi27, Ralph Swingler Place, Letchworth Garden City, Hertfordshire SG6 3GZ2
£406K06/210.71 mi5, Shott Lane, Letchworth Garden City, Hertfordshire SG6 1SD2
£430K06/230.72 mi34, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PN2
£430K06/230.72 mi34, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PN2
£360K12/200.72 mi42, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PN2
£269K08/210.73 mi3, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LJ2
£330K12/220.73 mi15, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LJ2
£275K06/210.74 mi118, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LH2
£250K03/210.76 mi61, Sanderling Close, Letchworth Garden City, Hertfordshire SG6 4HZ2
£380K12/200.78 mi98, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PT2
£260K06/210.8 mi31, Sanderling Close, Letchworth Garden City, Hertfordshire SG6 4HY2
£255K04/230.81 mi65, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LQ2
£575K03/210.81 mi81a, Baldock Road, Letchworth Garden City, Hertfordshire SG6 2EE2
£298K05/210.81 mi10, Woodhurst, Letchworth Garden City, Hertfordshire SG6 4LY2
£300K12/200.82 mi216, Rushby Mead, Letchworth Garden City, Hertfordshire SG6 1SL2
£327.5K03/210.82 mi230, Rushby Mead, Letchworth Garden City, Hertfordshire SG6 1SL2
£246K05/230.86 mi7, Hillpath, Letchworth Garden City, Hertfordshire SG6 1RL2
£455K04/230.88 mi9, Westholm, Letchworth Garden City, Hertfordshire SG6 4JB2

Local Rents

13 rents from £565/mo to £1.8K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,10008/240.05 miChagny Close, Letchworth Garden City, SG62
£1,07511/230.05 mi-2
£1,50012/240.17 miLindsell Avenue, Letchworth Garden City2
£1,45012/240.28 miSpringshott, Letchworth, SG62
£1,09508/240.29 miIcknield Way, Letchworth2
£56502/230.33 mi-2
£58512/240.33 mi-2
£1,25001/240.38 mi-2
£1,25001/240.39 mi-2
£1,45002/250.44 mi-2
£1,37502/250.47 mi-2
£1,79503/250.53 mi-2
£1,35008/240.57 mi-2

Local Area Statistics

Population in SG6

33,166

Population in Letchworth Garden City

33,209

Town centre distance

0.59 miles away

Nearest school

0.20 miles away

Nearest train station

0.42 miles away

 

 

Rental growth (12m)

+12%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £285,000

July 17, 2024

Sold for £134,950

2003

Sold for £49,500

1996

Floor Plans

Description

  • Terrace Home for Sale +
  • BRAND NEW LEASE +
  • Quiet Cul-de-Sac Location +
  • Easy Walking Distance to Station +
  • Front & Rear Gardens +
  • In need of Some Cosmetic Improvement +
  • Bathroom Suite with Shower +
  • Kitchen/Diner +
  • Parking for Residents & Visitors +
  • Call to View Today! +

Situated in the popular peaceful cul-de-sac of Chagny Close within easy walking distance to the town centre and train station. Featuring an entrance porch, spacious sitting room with open-tread stairs rising to the first floor.

A kitchen/diner is fitted with a range of matching eye level and base units, rolled edge work surfaces including a breakfast bar, stainless steel sink and drainer with mixer tap, wall mounted gas fired boiler, inset electric oven and gas hob, window to rear and a rear door leading to the garden.

Upstairs the bathroom suite comprises pedestal hand wash basin, low level WC and a ceramic panel enclosed bath with shower over. A large master bedroom offers a built-in wardrobe with concertina mirror fronted doors, a linen cupboard housing the hot water cylinder and bay window to front aspect plus a further good-sized bedroom to the rear.

The enclosed rear garden is well stocked with a variety of attractive planting, ornate pathway and lawn.

To the front is mainly laid to lawn with parking for residents and visitors available close-by.

Other advantages include a large loft space with fitted ladder and light.

Overall, the property is in need of some cosmetic improvement but would make an ideal project for a first time buyer or investor.

Available to purchase with no upward chain, for more information or to arrange a viewing, please call Isabelle Estates today!

Leasehold Information:
A brand new lease of 180 years.
There are no service charges and Ground Rent stands at £125 pa.

Energy Efficiency Rating: Band D (67).
Council Tax: Band C - NHC.

Agent Details

Isabelle Estates Ltd, Letchworth Garden City

01462 415854

Next Steps?

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