3 Bed Semi-Detached House, Refurb/BRRR, Chelmsford, CM1 4SU, £450,000

1 & 2 Woodhall Cottages, Chignal Smealey, Chelmsford, CM1 4SU, UK - 2 views - 8 months ago

Refurb/BRRR
~93 m²
+22 photos

ValuationOvervalued

Sold Prices£235K - £840K
Sold Prices/m²£2.7K/m² - £6.5K/m²

 

 

Square Metres

~93 m²
Price/m²£4.8K/m²

Value Estimate

£369,615

 

 

End Value (After Refurb)

£431,304

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£112,500

Stamp Duty & Legal Fees

£24,700

Refurb Costs

£45,200

Bridging Loan Interest

£11,813

Total Cash In

£195,963

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£431,304

Mortgage (After Refinance)

£323,478

Mortgage LTV

75%

Cash Left In

£195,963

Equity

£107,826

Rent Range

£390 - £4,995

Rent Estimate

£1,545

Running Costs/mo

£1,677

Cashflow/mo

£-132

Cashflow/yr

£-1,582

Gross Yield

4%

Local Sold Prices

50 sold prices from £235K to £840K, average is £335K. £2.7K/m² to £6.5K/m², average is £4.4K/m².

PriceDateDistanceAddressBeds 
£840K11/200.81 miThe Woodpeckers, Mashbury Road, Chignal St James, Chelmsford, Essex CM1 4TZ3
£440K06/210.96 mi3, Quinion Close, Chelmsford, Essex CM1 4UH3
£405K03/230.97 mi6, Micawber Way, Chelmsford, Essex CM1 4UG3
£385K02/210.98 mi14, Micawber Way, Chelmsford, Essex CM1 4UG3
£380K02/231.07 mi18, Pickwick Avenue, Chelmsford, Essex CM1 4UN3
£410K03/231.07 mi19, Pickwick Avenue, Chelmsford, Essex CM1 4UN3
£325K02/211.11 mi12, Tupman Close, Chelmsford, Essex CM1 4UP3
£370K03/231.2 mi26, Belvawney Close, Chelmsford, Essex CM1 4YR3
£313K09/211.21 mi45, Flintwich Manor, Chelmsford, Essex CM1 4YP3
£315K05/211.26 mi16, Bounderby Grove, Chelmsford, Essex CM1 4XW3
£235K05/211.27 mi21, Cotswold Crescent, Chelmsford, Essex CM1 2HS3
£325K03/211.29 mi186, Chignal Road, Chelmsford, Essex CM1 2JE3
£280K11/201.29 mi172, Chignal Road, Chelmsford, Essex CM1 2JE3
£315K02/211.29 mi4, Longshots Close, Chelmsford, Essex CM1 7DX3
£300K12/221.33 mi39, Cheviot Drive, Chelmsford, Essex CM1 2EX3
£315K01/211.33 mi63, Cheviot Drive, Chelmsford, Essex CM1 2EX3
£330K11/201.33 mi58, Wicklow Avenue, Chelmsford, Essex CM1 2HQ3
£300K02/211.34 mi40, Peggotty Close, Chelmsford, Essex CM1 4XU3
£320K07/231.34 mi37, Peggotty Close, Chelmsford, Essex CM1 4XU3
£450K11/211.34 mi70, Quilp Drive, Chelmsford, Essex CM1 4YD3
£560K06/211.35 mi90, School Lane, Broomfield, Chelmsford, Essex CM1 7DS3
£304K06/211.38 mi267, Avon Road, Chelmsford, Essex CM1 2LB3
£315K06/211.39 mi213, Avon Road, Chelmsford, Essex CM1 2LB3
£340K02/231.39 mi70, Church Avenue, Broomfield, Chelmsford, Essex CM1 7HA3
£346.5K11/201.4 mi35, Nash Drive, Broomfield, Chelmsford, Essex CM1 7BG3
£380K11/201.4 mi21, Nash Drive, Broomfield, Chelmsford, Essex CM1 7BG3
£330K06/211.41 mi9, Scotts Walk, Chelmsford, Essex CM1 2HB3
£295K04/211.41 mi7, Scotts Walk, Chelmsford, Essex CM1 2HB3
£382.5K01/231.42 mi45, Pennine Road, Chelmsford, Essex CM1 2HG3
£325K03/231.42 mi6, Pennine Road, Chelmsford, Essex CM1 2HG3
£405K03/231.43 mi16, Varden Close, Chelmsford, Essex CM1 4XS3
£305K09/211.43 mi66, Salerno Way, Chelmsford, Essex CM1 2EH3
£315K12/201.44 mi10, Nash Drive, Broomfield, Chelmsford, Essex CM1 7BG3
£540K02/231.44 mi6, St Marys Mead, Broomfield, Chelmsford, Essex CM1 7ZT3
£320K10/201.44 mi15, Constance Close, Broomfield, Chelmsford, Essex CM1 7BW3
£380K06/211.44 mi2, Constance Close, Broomfield, Chelmsford, Essex CM1 7BW3
£465K03/231.44 mi139, Chignal Road, Chelmsford, Essex CM1 2JD3
£345.2K12/221.45 mi55, St Nazaire Road, Chelmsford, Essex CM1 2EG3
£295K12/201.46 mi8, Pan Walk, Chelmsford, Essex CM1 2HD3
£320K12/201.46 mi10, Broomhall Close, Chelmsford, Essex CM1 7HD3
£520K02/211.46 mi3, Butlers Close, Chelmsford, Essex CM1 7BE3
£415K04/231.49 mi23a, Broomhall Road, Chelmsford, Essex CM1 7HB3
£365K04/231.51 mi26, Cherwell Drive, Chelmsford, Essex CM1 2JL3
£390K11/211.52 mi14, St Nazaire Road, Chelmsford, Essex CM1 2EQ3
£310K06/211.53 mi231, Rutland Road, Chelmsford, Essex CM1 4BW3
£360K11/201.56 mi407, Main Road, Broomfield, Chelmsford, Essex CM1 7EJ3
£300K09/211.59 mi6, Wellington Close, Chelmsford, Essex CM1 2EE3
£370K12/221.6 mi49, Queensland Crescent, Chelmsford, Essex CM1 2DZ3
£545K12/221.6 mi72, Kelvedon Close, Chelmsford, Essex CM1 4DG3
£318K02/231.61 mi13, Woodhall Road, Chelmsford, Essex CM1 4AE3

Local Rents

50 rents from £390/mo to £5K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,45011/231.03 miFoxglove Avenue, Chelmsford2
£3,99503/241.03 mi-3
£4,99503/251.03 mi-3
£39004/241.03 miChignal Smealy1
£95004/241.15 miChelmsford2
£99503/241.19 miBelvawney Close, Chelmsford, CM11
£99504/241.19 mi-1
£1,10004/251.19 mi-1
£1,02504/241.2 miBelvawney Close, CHELMSFORD1
£1,35001/251.2 mi-2
£77504/241.23 miDarnay Rise, Broomfield, CM11
£77504/241.23 miDarnay Rise, Broomfield, CM11
£1,95004/241.25 miLongshots Close, Broomfield, Chelmsford4
£1,65004/241.27 miCotswold Crescent, Chelmsford, CM13
£1,65004/241.27 miCotswold Crescent, Chelmsford, CM13
£1,65004/241.29 miChignal Road, Chelmsford3
£1,00003/241.3 miBounderby Grove, Chelmsford2
£1,95003/241.33 miQuilp Drive, Chelmsford3
£1,57503/241.33 miWicklow Avenue, CHELMSFORD3
£1,65003/241.34 mi-3
£1,25003/241.38 miOliver Way, Chelmsford2
£87503/241.38 miChiltern Close, Chelmsford1
£87504/241.38 miChiltern Close, Chelmsford1
£1,60004/241.39 miAvon Road, Chelmsford3
£1,05002/241.39 mi-1
£2,20012/241.39 miRoslings Close, Chelmsford, Essex, CM14
£1,85004/241.4 miTapley Road, Chelmsford3
£1,89004/241.41 miJubilee Avenue, Broomfield, Chelmsford, Essex, CM14
£1,50004/251.41 mi-2
£1,80004/241.41 miPipchin Road, Chelmsford3
£1,25002/241.42 mi-2
£1,50004/241.42 miPennine Road, Chelmsford3
£1,50004/241.42 miPennine Road, Chelmsford3
£1,55005/241.42 miScotts Walk, Chelmsford3
£1,25003/241.43 miVarden Close, CHELMSFORD2
£1,70003/241.43 miBroomfield, Essex, CM13
£1,75004/241.43 miBroomfield, Essex, CM13
£1,75005/241.43 miBroomfield, Essex, CM13
£1,75004/241.43 mi-3
£1,75003/251.46 mi-3
£1,80002/241.47 mi-2
£1,40003/241.47 miCourt Road, Broomfield, CM12
£1,38012/231.48 mi-2
£1,35002/251.48 mi-2
£2,25003/241.48 miPetty Croft, Chelmsford, CM14
£1,20005/241.5 mi-2
£1,35004/251.5 mi-2
£99512/231.5 mi-1
£1,05003/251.5 mi-1
£1,30004/241.53 miArnhem Road, Chelmsford, CM12

Local Area Statistics

Population in CM1

62,617

Population in Chelmsford

174,693

Town centre distance

2.54 miles away

Nearest school

1.10 miles away

Nearest train station

2.67 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £450,000

August 13, 2024

Floor Plans

Description

  • No onward chain +
  • Three bedrooms +
  • Two reception rooms +
  • Two bathrooms +
  • Farmland views +
  • Country setting +
  • Modernisation and renovation required +

This impressive character property is situated in the village of Chignal Smealey and benefits from a farmland setting with open views of surrounding countryside and enjoys generous gardens siding onto farmland with off-street parking for several vehicles, three well proportioned bedrooms, two bathrooms including an en-suite to the principal bedroom, two reception rooms and further scope for renovation and modernisation.

A door leads to the entrance hall with stairs rising to the first floor landing and doors giving way to the sitting room, shower room and kitchen/diner.

To the left hand side is the sitting room which is of a generous size and has a dual aspect outlook to both the front and rear and an exposed brick chimney breast with inset wood burner.

The kitchen/diner is a spacious room with dual aspect windows but separated by a chimney breast with the kitchen set to the far wall with work surfaces along two sides incorporating a stainless steel sink with drainer, storage cupboards both and below the work surfaces creating and providing spaces for several appliances. A door leads to the utility room which has access out to the garden and space for further appliances along with a sink and drainer.

The shower room comprises a corner shower cubicle with part tiled surrounds, wash hand basin, WC, window to the rear aspect and a wall mounted heated towel rail. Stairs rise to the first floor landing which provides access to the three bedrooms all which are of a generous size, the principal bedroom benefits from a dual aspect outlook with a door leading to the en-suite which comprises a three piece suite with bath, wash hand basin, WC and a frosted window to the rear.

Bedroom three also occupies a rear aspect outlook with bedroom two overlooking the front and benefitting from integrated wardrobes.

Outside
The property is accessed via a farm track and then a secondary track which serves only 1 & 2 Woodhall Cottages. This has recently been established and both properties will have a right of access with designated off-street parking for several vehicles.

The property benefits from generous gardens to the front, rear and side.

Location

The property is located in the village of Chignal Smealey set just outside of Chelmsford.

Directions

Please use postcode CM1 4SU for SatNav.

Important Information

Council Tax Band – C EPC Rating - F
Services - We understand that mains water and electricity are connected to the property, with Calor gas heating and shares a new private drainage system with 1 Woodhall Cottages and further details can be provided.
Tenure - Freehold
Our ref - CHE220304

Agent Details

Fenn Wright, Chelmsford

01246 948443

Next Steps?

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