2 Bed Bungalow, Refurb/BRRR, Chatham, ME4 6LB, £240,000

Ewart Road, Chatham, Kent, ME4 6LB - 2 views - 9 months ago

Refurb/BRRR
Planning
ROI: 2%
~68 m²
+2 photos

ValuationOvervalued

Sold Prices£132.5K - £610K
Sold Prices/m²£1.9K/m² - £5.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.5K/m²

Value Estimate

£233,414

 

 

End Value (After Refurb)

£244,311

Uplift in Value

+2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£15,500

Refurb Costs

£33,396

Bridging Loan Interest

£6,300

Total Cash In

£116,946

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£244,311

Mortgage (After Refinance)

£183,233

Mortgage LTV

75%

Cash Released

£3,233

Cash Left In

£113,713

Equity

£61,078

Rent Range

£990 - £1,500

Rent Estimate

£1,226

Running Costs/mo

£1,029

Cashflow/mo

£197

Cashflow/yr

£2,368

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £132.5K to £610K, average is £255.5K. £1.9K/m² to £5.9K/m², average is £3.7K/m².

PriceDateDistanceAddressBeds 
£245K03/210.12 mi6, Randall Road, Chatham, Kent ME4 6JY2
£206K05/210.18 mi23, Elm Avenue, Chatham, Medway ME4 6ER2
£270K07/230.18 mi23, Elm Avenue, Chatham, Medway ME4 6ER2
£265K04/210.19 mi116, Haig Avenue, Rochester, Medway ME1 2RX2
£360K07/230.21 mi51, Gerrard Avenue, Rochester, Medway ME1 2RW2
£230K07/210.24 mi65, Haig Avenue, Rochester, Medway ME1 2RY2
£255K03/210.24 mi64, Haig Avenue, Rochester, Medway ME1 2RY2
£245K04/210.24 mi70, Haig Avenue, Rochester, Medway ME1 2RY2
£245K01/210.25 mi8, Huntsmans Close, Rochester, Kent ME1 2RD2
£310K10/230.25 mi11, Huntsmans Close, Rochester, Medway ME1 2RD2
£406.5K12/220.27 mi272, Wilson Avenue, Rochester, Medway ME1 2SR2
£372K05/210.27 mi272, Wilson Avenue, Rochester, Medway ME1 2SR2
£235K01/240.27 mi51, Wyles Road, Chatham, Medway ME4 6LE2
£256K09/210.31 mi16, Haig Avenue, Rochester, Medway ME1 2RZ2
£282K02/210.31 mi23, Haig Avenue, Rochester, Medway ME1 2RZ2
£370K06/230.31 mi22, Haig Avenue, Rochester, Medway ME1 2RZ2
£310K12/230.31 mi23, Haig Avenue, Rochester, Medway ME1 2RZ2
£267.5K08/230.32 mi7, Rosebery Road, Chatham, Medway ME4 6LG2
£610K03/210.34 mi183, City Way, Rochester, Medway ME1 2BG2
£325K10/210.35 mi11, Beatty Road, Rochester, Medway ME1 2TG2
£378K08/220.35 mi11, Beatty Road, Rochester, Medway ME1 2TG2
£263K10/230.38 mi108, Chatham Grove, Chatham, Medway ME4 6LZ2
£200K03/210.38 mi111, Chatham Grove, Chatham, Medway ME4 6LZ2
£325K11/220.39 mi20b, Mooring Road, Rochester, Medway ME1 2PN2
£290K09/210.4 mi11, Brenchley Close, Rochester, Medway ME1 2QL2
£290K11/230.4 mi2, Brenchley Close, Rochester, Medway ME1 2QL2
£228.9K10/200.4 mi18, Brenchley Close, Rochester, Medway ME1 2QL2
£255K06/210.4 mi6, Brenchley Close, Rochester, Medway ME1 2QL2
£263K01/210.4 mi3, Brenchley Close, Rochester, Medway ME1 2QL2
£368K03/210.4 mi8, Argyle Close, Rochester, Medway ME1 2TF2
£342K03/210.4 mi16, Argyle Close, Rochester, Medway ME1 2TF2
£216K12/200.44 mi12, Scotteswood Avenue, Chatham, Medway ME4 6HB2
£180K12/200.45 mi213, Dale Street, Chatham, Medway ME4 6QJ2
£197.5K02/210.45 mi4, St Leonards Avenue, Chatham, Medway ME4 6HL2
£240K10/200.46 mi61, Anchor Road, Rochester, Kent ME1 2PP2
£256K03/210.46 mi54, Anchor Road, Rochester, Medway ME1 2PP2
£280K08/220.48 mi184, Magpie Hall Road, Chatham, Medway ME4 5XH2
£132.5K10/200.54 mi107, Charter Street, Chatham, Medway ME4 5RY2
£230K06/230.54 mi119, Dale Street, Chatham, Medway ME4 6QH2
£180K11/200.54 mi120, Dale Street, Chatham, Medway ME4 6QH2
£245K05/210.54 mi9, Fairway Close, Rochester, Medway ME1 2PZ2
£245K03/230.55 mi118, Pagitt Street, Chatham, Medway ME4 6RD2
£212.5K04/210.55 mi98, Pagitt Street, Chatham, Medway ME4 6RD2
£292.5K05/230.55 mi7, The Fairway, Rochester, Medway ME1 2PY2
£235K11/200.58 mi9, Green Close, Rochester, Medway ME1 2QD2
£188K02/210.58 mi23, Ingle Road, Chatham, Medway ME4 5SD2
£190K06/210.59 mi106, Holcombe Road, Chatham, Kent ME4 5RX2
£255K11/220.59 mi7, Damien Close, Chatham, Medway ME4 4XE2
£225K02/210.59 mi67, St Williams Way, Rochester, Kent ME1 2NY2
£265K12/220.6 mi23, Westbrooke Close, Chatham, Medway ME4 4XX2

Local Rents

14 rents from £990/mo to £1.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,40005/240.25 miHaig Avenue, Rochester2
£1,20005/240.28 miWilson Avenue Rochester ME12
£1,25007/240.29 miCharlesworth House, Balfour Road, Chatham, Kent, ME42
£1,25005/240.33 miRosebery Road, Chatham, Kent, ME42
£1,15006/240.41 mi-2
£1,15006/240.41 miBrenchley Close, Rochester, ME12
£1,15006/240.45 miTop Purbeck Road, Chatham, ME42
£1,15006/240.45 mi-2
£1,25005/240.45 miHybrid Close, Rochester2
£1,25007/240.46 miPortside Close, Rochester, Kent, ME1 2FG2
£1,50005/240.53 miBumbles Close, Rochester2
£1,50005/240.53 miBumbles Close, Rochester2
£99005/240.56 mi-2
£1,25002/250.59 mi-2

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

0.47 miles away

Nearest school

0.10 miles away

Nearest train station

0.94 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £240,000

August 8, 2024

Description

  • Semi-detached bungalow with good sized rear garden +
  • Spacious, offering versatile living +
  • In need of some updating +
  • Potential to add driveway (subject to planning permission being obtainable) +
  • Great location for access to Chatham and Rochester town centres, train station and local amenities +

New to market - further photos coming soon… This semi detached bungalow, in need of some updating offers spacious and versatile living. The property also benefits from a fantastic rear garden which was previously part of a local orchard. It is well positioned, in close proximity to Chatham and Rochester town centres and local amenities.  
Please refer to the footnote regarding the services and appliances.

Room sizes:

  • Entrance Hallway
  • Lounge: 11'0 x 10'1 (3.36m x 3.08m)
  • Kitchen: 9'8 x 9'7 (2.95m x 2.92m)
  • Bedroom 1: 12'3 x 10'1 (3.74m x 3.08m)
  • Bedroom 2 / Dining Room: 10'0 x 9'9 (3.05m x 2.97m)
  • Shower Room
  • Front Garden
  • Rear Garden  
    The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents. All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose.
     
    We are pleased to offer our customers a range of additional services to help them with moving home. None of these services are obligatory and you are free to use service providers of your choice. Current regulations require all estate agents to inform their customers of the fees they earn for recommending third party services. If you choose to use a service provider recommended by Wards, details of all referral fees can be found at the link below. If you decide to use any of our services, please be assured that this will not increase the fees you pay to our service providers, which remain as quoted directly to you.

Agent Details

Wards, Chatham

01634 959314

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.