3 Bed Semi-Detached House, Refurb/BRRR, Watford, WD24 6NP, £500,000

The Harebreaks, Watford, Hertfordshire, WD24 6NP - 4 views - 8 months ago

Sold STC

Refurb/BRRR

~93 m²

+5 photos

ValuationOvervalued

Sold Prices	£347K - £600K
Sold Prices/m²	£3.7K/m² - £7.3K/m²

Square Metres	~93 m²
Price/m²	£5.4K/m²
Value Estimate	£480,587£480,587

End Value (After Refurb)	£502,703£502,703
Uplift in Value	+1%+1%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£125,000£125,000
Stamp Duty & Legal Fees	£28,700£28,700
Refurb Costs	£49,214£49,214
Bridging Loan Interest	£13,125£13,125
Total Cash In	£217,789£217,789

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£502,703£502,703
Mortgage (After Refinance)	£377,027£377,027
Mortgage LTV	75%75%
Cash Released	£2,027£2,027
Cash Left In	£215,761£215,761
Equity	£125,676£125,676
Rent Range	£1,600 - £2,650£1,600 - £2,650
Rent Estimate	£1,895
Running Costs/mo	£1,970£1,970
Cashflow/mo	£-75£-75
Cashflow/yr	£-899£-899
Gross Yield	5%5%

Local Sold Prices

50 sold prices from £347K to £600K, average is £453.8K. £3.7K/m² to £7.3K/m², average is £5.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£425K	01/21	0.05 mi	24, Middle Way, Watford, Hertfordshire WD24 6HL	£4,942	86	3	Terraced House
£447.5K	06/21	0.05 mi	26, Middle Way, Watford, Hertfordshire WD24 6HL	-	-	3	Terraced House
£600K	03/21	0.1 mi	156, Gammons Lane, Watford, Hertfordshire WD24 5HY	£5,556	108	3	Semi-Detached House
£565K	11/23	0.1 mi	126a, Gammons Lane, Watford, Hertfordshire WD24 5HY	£5,947	95	3	Semi-Detached House
£416K	11/20	0.11 mi	79, The Harebreaks, Watford, Hertfordshire WD24 6NJ	£4,837	86	3	Semi-Detached House
£415K	02/21	0.13 mi	59, Fuller Road, Watford, Hertfordshire WD24 6QH	£4,716	88	3	Terraced House
£415K	02/21	0.14 mi	59, Fuller Road, Watford, Hertfordshire WD24 6QH	£4,716	88	3	Terraced House
£372K	05/21	0.15 mi	85, Middle Way, Watford, Hertfordshire WD24 6HR	£5,167	72	3	Detached House
£440K	05/21	0.15 mi	73, Middle Way, Watford, Hertfordshire WD24 6HR	£4,835	91	3	Semi-Detached House
£475K	10/22	0.16 mi	73, The Harebreaks, Watford, Hertfordshire WD24 6NE	-	-	3	Semi-Detached House
£515K	08/23	0.18 mi	85, Beechwood Rise, Watford, Hertfordshire WD24 6SQ	-	-	3	Semi-Detached House
£460K	02/24	0.19 mi	16, Elm Grove, Watford, Hertfordshire WD24 5NA	£5,169	89	3	Semi-Detached House
£475K	11/22	0.19 mi	47, Woodside, Watford, Hertfordshire WD24 6QT	£5,588	85	3	Terraced House
£480K	12/23	0.19 mi	31, Woodside, Watford, Hertfordshire WD24 6QT	£5,517	87	3	Semi-Detached House
£415K	03/21	0.19 mi	27, Woodside, Watford, Hertfordshire WD24 6QT	£4,323	96	3	Semi-Detached House
£555K	02/23	0.2 mi	21, Woodside, Watford, Hertfordshire WD24 6QT	£6,033	92	3	Semi-Detached House
£465K	05/21	0.2 mi	56, Beechwood Rise, Watford, Hertfordshire WD24 6SG	£6,458	72	3	Semi-Detached House
£512.5K	06/21	0.21 mi	19, Beechwood Rise, Watford, Hertfordshire WD24 6SE	-	-	3	Semi-Detached House
£505K	06/21	0.21 mi	37, Beechwood Rise, Watford, Hertfordshire WD24 6SE	-	-	3	Semi-Detached House
£480K	04/21	0.21 mi	29, Beechwood Rise, Watford, Hertfordshire WD24 6SE	-	-	3	Semi-Detached House
£562.5K	05/23	0.21 mi	28, Nicholas Close, Watford, Hertfordshire WD24 6DH	£6,618	85	3	Semi-Detached House
£373K	12/20	0.22 mi	29, Ashby Road, Watford, Hertfordshire WD24 5HS	£4,722	79	3	Terraced House
£485K	06/21	0.22 mi	19, Fuller Road, Watford, Hertfordshire WD24 6QG	£5,774	84	3	Semi-Detached House
£347K	01/24	0.24 mi	6, Brighton Road, Watford, Hertfordshire WD24 5HW	£5,338	65	3	Terraced House
£420K	03/23	0.24 mi	29, Brighton Road, Watford, Hertfordshire WD24 5HN	-	-	3	Terraced House
£420K	12/22	0.24 mi	65, Ashby Road, Watford, Hertfordshire WD24 5HS	£5,000	84	3	Terraced House
£490K	03/21	0.24 mi	75, Oakdene Road, Watford, Hertfordshire WD24 6RN	£3,984	123	3	Semi-Detached House
£540K	11/20	0.26 mi	67, Sussex Road, Watford, Hertfordshire WD24 5HR	£5,455	99	3	Semi-Detached House
£522K	02/22	0.26 mi	103, Sussex Road, Watford, Hertfordshire WD24 5HR	-	-	3	Detached House
£425K	03/21	0.26 mi	50, Oakdene Road, Watford, Hertfordshire WD24 6RW	£5,986	71	3	Semi-Detached House
£495K	06/21	0.26 mi	18, Oakdene Road, Watford, Hertfordshire WD24 6RW	£6,972	71	3	Semi-Detached House
£420K	02/21	0.27 mi	62, Jubilee Road, Watford, Hertfordshire WD24 5HH	-	-	3	Terraced House
£535K	11/23	0.27 mi	30, St Georges Road, Watford, Hertfordshire WD24 6DD	£4,820	111	3	Terraced House
£393K	12/22	0.27 mi	44, Jubilee Road, Watford, Hertfordshire WD24 5HH	-	-	3	Terraced House
£560K	12/22	0.27 mi	127, Gammons Lane, Watford, Hertfordshire WD24 5JD	-	-	3	Detached House
£465K	06/21	0.29 mi	10, Cherry Tree Road, Watford, Hertfordshire WD24 6SB	£5,817	80	3	Semi-Detached House
£409K	06/21	0.29 mi	23, Jubilee Road, Watford, Hertfordshire WD24 5HJ	-	-	3	Semi-Detached House
£475K	03/24	0.29 mi	18, Hazel Tree Road, Watford, Hertfordshire WD24 6RQ	-	-	3	Semi-Detached House
£491.3K	06/21	0.29 mi	12, Hazeltree Road, Watford, Hertfordshire WD24 6RQ	£5,919	83	3	Semi-Detached House
£395K	02/21	0.3 mi	22, Halsey Place, Watford, Hertfordshire WD24 6BS	£4,489	88	3	Semi-Detached House
£395K	06/21	0.3 mi	42, Diamond Road, Watford, Hertfordshire WD24 5EW	£4,341	91	3	Terraced House
£390K	05/23	0.3 mi	26, Diamond Road, Watford, Hertfordshire WD24 5EW	£3,750	104	3	Terraced House
£380K	01/21	0.3 mi	16, Diamond Road, Watford, Hertfordshire WD24 5EW	£4,205	90	3	Terraced House
£475K	04/21	0.31 mi	Ronda, Leaford Crescent, Watford, Hertfordshire WD24 5TW	£4,524	105	3	Terraced House
£420K	10/21	0.31 mi	211, Sandringham Road, Watford, Hertfordshire WD24 7BH	£5,676	74	3	Terraced House
£440K	08/21	0.31 mi	195, Sandringham Road, Watford, Hertfordshire WD24 7BH	-	-	3	Semi-Detached House
£395K	08/21	0.31 mi	187, Sandringham Road, Watford, Hertfordshire WD24 7BH	£5,047	78	3	Terraced House
£360K	02/24	0.31 mi	153, Sandringham Road, Watford, Hertfordshire WD24 7BH	£4,000	90	3	Terraced House
£376.6K	01/21	0.32 mi	1, Sussex Road, Watford, Hertfordshire WD24 5HL	£3,656	103	3	Terraced House
£510K	03/23	0.32 mi	45, Leggatts Wood Avenue, Watford, Hertfordshire WD24 6RL	£7,286	70	3	Semi-Detached House

Local Rents

25 rents from £1.6K/mo to £2.6K/mo, average is £1.9K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,100	10/24	0.03 mi	-	3	Semi-Detached House
£2,100	12/24	0.03 mi	-	3	Semi-Detached House
£1,600	10/24	0.25 mi	-	3	Flat
£1,600	03/25	0.25 mi	-	3	Flat
£1,600	10/24	0.25 mi	Leavesden Road, Watford, WD24	3	Flat
£2,000	10/24	0.25 mi	Brighton Road, Watford, WD24	3	Flat
£1,780	10/24	0.28 mi	-	3	Semi-Detached House
£1,725	10/24	0.32 mi	The Harebreaks, North Watford, Watford, WD24	3	Flat
£1,890	02/24	0.35 mi	-	3	Terraced House
£1,790	02/25	0.35 mi	-	3	Terraced House
£1,950	02/25	0.36 mi	-	3	Semi-Detached House
£2,350	12/24	0.37 mi	-	3	Flat
£1,800	01/25	0.45 mi	-	3	Semi-Detached House
£1,900	08/24	0.48 mi	-	3	Semi-Detached House
£2,050	09/24	0.52 mi	-	3	Semi-Detached House
£2,300	10/24	0.52 mi	Purbrock Avenue, Watford, Hertfordshire, WD25	3	Detached House
£2,300	10/24	0.52 mi	Purbrock Avenue, WATFORD	3	Flat
£2,000	10/24	0.53 mi	-	3	Semi-Detached House
£1,750	10/24	0.55 mi	Leavesden Road, Watford	3	Terraced House
£1,800	02/25	0.58 mi	-	3	Semi-Detached House
£2,600	11/24	0.59 mi	-	3	Detached House
£2,650	12/24	0.59 mi	-	3	Flat
£1,800	08/24	0.6 mi	-	3	Terraced House
£1,975	03/25	0.6 mi	-	3	Terraced House
£1,990	11/24	0.61 mi	-	3	Flat

Local Area Statistics

Population in WD24	21,82721,827
Population in Watford	117,094117,094
Town centre distance	1.03 miles away1.03 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.57 miles away0.57 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+13%+13%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+15%+15%

Property History

Listed for £500,000

July 31, 2024

Description

Three-Bedroom House +
In Need of Modernisation +
Off-Street Parking +
Council Tax Band C +
EPC Rating - E +

Nestled in the heart of North Watford, this three-bedroom house on Harebreaks offers an exciting opportunity for those seeking a project to create their dream home. Boasting generous proportions this property is a blank canvas ready for modernisation, allowing you to add your personal touch and transform it into a stylish and contemporary living space.

The property features two reception rooms, kitchen, three bedrooms, bathroom and separate wc.

Outside the property offers off-street parking and lush lawn to the front of the property.

The Harebreaks is located within walking distance of outstanding rated local schooling, Watford's vibrant town centerand several green spaces including Cassiobury Park. It has easy access to transport facilities such as Watford Junction Station with its fast links to London Euston as well as the M1 and M25 motorways.