3 Bed Semi-Detached House, Refurb/BRRR, Chelmsford, CM1 4SU, £375,000

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

Sold STC
Refurb/BRRR
~93 m²
+12 photos

ValuationOvervalued

Sold Prices£202K - £840K
Sold Prices/m²£2.1K/m² - £6.1K/m²

 

 

Square Metres

~93 m²
Price/m²£4K/m²

Value Estimate

£359,203

 

 

End Value (After Refurb)

£434,000

Uplift in Value

+16%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£93,750

Stamp Duty & Legal Fees

£18,700

Refurb Costs

£45,200

Bridging Loan Interest

£9,844

Total Cash In

£169,244

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£434,000

Mortgage (After Refinance)

£325,500

Mortgage LTV

75%

Cash Released

£44,250

Cash Left In

£124,994

Equity

£108,500

Rent Range

£390 - £4,995

Rent Estimate

£1,470

Running Costs/mo

£1,670

Cashflow/mo

£-200

Cashflow/yr

£-2,403

Gross Yield

5%

Local Sold Prices

50 sold prices from £202K to £840K, average is £330.6K. £2.1K/m² to £6.1K/m², average is £4K/m².

PriceDateDistanceAddressBeds 
£840K11/200.89 miThe Woodpeckers, Mashbury Road, Chignal St James, Chelmsford, Essex CM1 4TZ3
£685K02/231.69 miWhitegates Cottage, Boyton Cross, Roxwell, Chelmsford, Essex CM1 4LS3
£440K06/211.74 mi3, Quinion Close, Chelmsford, Essex CM1 4UH3
£405K03/231.78 mi6, Micawber Way, Chelmsford, Essex CM1 4UG3
£385K02/211.79 mi14, Micawber Way, Chelmsford, Essex CM1 4UG3
£380K02/231.8 mi18, Pickwick Avenue, Chelmsford, Essex CM1 4UN3
£410K03/231.8 mi19, Pickwick Avenue, Chelmsford, Essex CM1 4UN3
£325K02/211.82 mi12, Tupman Close, Chelmsford, Essex CM1 4UP3
£325K03/211.9 mi186, Chignal Road, Chelmsford, Essex CM1 2JE3
£280K11/201.9 mi172, Chignal Road, Chelmsford, Essex CM1 2JE3
£235K05/211.92 mi21, Cotswold Crescent, Chelmsford, Essex CM1 2HS3
£304K06/211.93 mi267, Avon Road, Chelmsford, Essex CM1 2LB3
£315K06/211.93 mi213, Avon Road, Chelmsford, Essex CM1 2LB3
£330K11/202.01 mi58, Wicklow Avenue, Chelmsford, Essex CM1 2HQ3
£370K03/232.04 mi26, Belvawney Close, Chelmsford, Essex CM1 4YR3
£300K12/222.07 mi39, Cheviot Drive, Chelmsford, Essex CM1 2EX3
£315K01/212.07 mi63, Cheviot Drive, Chelmsford, Essex CM1 2EX3
£330K06/212.07 mi9, Scotts Walk, Chelmsford, Essex CM1 2HB3
£295K04/212.07 mi7, Scotts Walk, Chelmsford, Essex CM1 2HB3
£465K03/232.08 mi139, Chignal Road, Chelmsford, Essex CM1 2JD3
£365K04/232.09 mi26, Cherwell Drive, Chelmsford, Essex CM1 2JL3
£313K09/212.11 mi45, Flintwich Manor, Chelmsford, Essex CM1 4YP3
£295K12/202.12 mi8, Pan Walk, Chelmsford, Essex CM1 2HD3
£415K02/232.12 mi13, St Michaels Drive, Roxwell, Chelmsford, Essex CM1 4NX3
£382.5K01/232.12 mi45, Pennine Road, Chelmsford, Essex CM1 2HG3
£325K03/232.12 mi6, Pennine Road, Chelmsford, Essex CM1 2HG3
£315K05/212.17 mi16, Bounderby Grove, Chelmsford, Essex CM1 4XW3
£462.5K03/212.25 mi77, Cherry Garden Road, Great Waltham, Chelmsford, Essex CM3 1DH3
£525K03/212.25 miHazelberries, South Street, Great Waltham, Chelmsford, Essex CM3 1DG3
£300K02/212.26 mi40, Peggotty Close, Chelmsford, Essex CM1 4XU3
£320K07/232.26 mi37, Peggotty Close, Chelmsford, Essex CM1 4XU3
£425K03/232.27 mi52, Cherry Garden Road, Great Waltham, Chelmsford, Essex CM3 1DJ3
£305K09/212.27 mi66, Salerno Way, Chelmsford, Essex CM1 2EH3
£650K01/212.28 mi10, Duffries Close, Great Waltham, Chelmsford, Essex CM3 1DQ3
£312K05/212.29 mi22, Thames Avenue, Chelmsford, Essex CM1 2LW3
£300K09/212.29 mi6, Wellington Close, Chelmsford, Essex CM1 2EE3
£345.2K12/222.31 mi55, St Nazaire Road, Chelmsford, Essex CM1 2EG3
£405K03/232.31 mi16, Varden Close, Chelmsford, Essex CM1 4XS3
£370K12/222.32 mi49, Queensland Crescent, Chelmsford, Essex CM1 2DZ3
£202K08/232.33 mi1, Derwent Way, Chelmsford, Essex CM1 2LP3
£450K11/212.33 mi70, Quilp Drive, Chelmsford, Essex CM1 4YD3
£331K05/212.35 mi35, Thames Avenue, Chelmsford, Essex CM1 2LN3
£355K10/212.35 mi49, Thames Avenue, Chelmsford, Essex CM1 2LN3
£315K02/212.36 mi4, Longshots Close, Chelmsford, Essex CM1 7DX3
£320K03/212.37 mi27, Clyde Crescent, Chelmsford, Essex CM1 2LJ3
£390K11/212.38 mi14, St Nazaire Road, Chelmsford, Essex CM1 2EQ3
£380K03/212.38 miWest Warren Cottage, Roxwell Road, Writtle, Chelmsford, Essex CM1 3RU3
£300K04/212.38 miEast Warren Cottage, Roxwell Road, Writtle, Chelmsford, Essex CM1 3RU3
£330.3K06/212.39 mi1, Wolmers Hey, Great Waltham, Chelmsford, Essex CM3 1DA3
£343K05/212.39 mi53, Avon Road, Chelmsford, Essex CM1 2JX3

Local Rents

50 rents from £390/mo to £5K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£95004/240.15 miChelmsford2
£39004/240.21 miChignal Smealy1
£2,10005/241.44 miNewarks Road, Chelmsford, Essex, CM14SA3
£2,25003/241.55 miThe Keys, Boyton Cross Lane, Roxwell, CM15
£1,65004/241.9 miChignal Road, Chelmsford3
£1,65004/241.92 miCotswold Crescent, Chelmsford, CM13
£1,65004/241.92 miCotswold Crescent, Chelmsford, CM13
£1,60004/241.93 miAvon Road, Chelmsford3
£1,09512/241.93 mi-1
£1,35001/251.94 mi-2
£1,45011/231.95 miFoxglove Avenue, Chelmsford2
£3,99503/241.96 mi-3
£4,99503/251.96 mi-3
£77504/242.01 miDarnay Rise, Broomfield, CM11
£77504/242.01 miDarnay Rise, Broomfield, CM11
£1,57503/242.01 miWicklow Avenue, CHELMSFORD3
£2,20012/242.03 miRoslings Close, Chelmsford, Essex, CM14
£99503/242.04 miBelvawney Close, Chelmsford, CM11
£99504/242.04 mi-1
£1,02504/242.04 miBelvawney Close, CHELMSFORD1
£87503/242.06 miChiltern Close, Chelmsford1
£87504/242.06 miChiltern Close, Chelmsford1
£1,55005/242.09 miScotts Walk, Chelmsford3
£1,50004/242.12 miPennine Road, Chelmsford3
£1,50004/242.12 miPennine Road, Chelmsford3
£1,00003/242.2 miBounderby Grove, Chelmsford2
£97510/232.24 mi-2
£1,00010/242.24 mi-2
£1,65003/242.25 mi-3
£1,65004/242.27 miForemans Roxwell Road, Chelmsford3
£1,65005/242.27 miForemans Roxwell Road, Chelmsford3
£1,25009/242.27 mi-2
£1,25009/242.27 mi-2
£1,25003/242.28 miOliver Way, Chelmsford2
£1,50004/242.28 miFarmbridge End, Good Easter, Chelmsford, CM1 4RY1
£1,40004/242.28 miFarmbridge End Road, Good Easter, CM1 4BB1
£1,80004/242.29 miDene Court, CHELMSFORD3
£1,80005/242.29 miDene Court, CHELMSFORD3
£1,95003/242.29 miQuilp Drive, Chelmsford3
£1,25002/242.31 mi-2
£1,80004/242.31 miPipchin Road, Chelmsford3
£1,25003/242.31 miVarden Close, CHELMSFORD2
£1,45004/242.32 miPines Road, Chelmsford3
£1,45005/242.32 miPines Road, Chelmsford3
£1,95004/242.32 miLongshots Close, Broomfield, Chelmsford4
£1,85004/242.32 miTapley Road, Chelmsford3
£99512/232.34 mi-1
£1,05002/252.34 mi-1
£1,49503/242.35 miMelbourne Avenue, Chelmsford3
£1,30004/242.35 miArnhem Road, Chelmsford, CM12

Local Area Statistics

Population in CM1

62,617

Population in Chelmsford

174,693

Town centre distance

3.34 miles away

Nearest school

1.90 miles away

Nearest train station

3.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £375,000

August 13, 2024

Floor Plans

Description

  • No onward chain +
  • Three bedrooms +
  • Two reception rooms +
  • One bathroom +
  • Off-street parking +
  • Private gardens +
  • Renovation required +
  • Potential to extend STPP +
  • Countryside setting +
  • Character features +

This characterful property with no onward chain is situated in the heart of Essex countryside and has the potential to be an impressive family home.

The property requires modernisation but offers three bedrooms, two reception rooms and additional rooms in the loft which could be converted, subject to planning. The property also enjoys a generous plot in a farmland setting all within easy access of central Chelmsford.

A storm porch leads to a door which accesses the which is of a generous size and benefits from a 'U' shaped design with work surfaces on three sides incorporating a 1½ bowl sink with drainer and storage cupboards both above and below the work surfaces.

The kitchen has doors leading to the pantry area, dining room, inner lobby and an additional door leading out to the side. Both the dining room and sitting room are located to the rear of the property and enjoy views over the gardens and benefit from exposed timbers and character features. The shower room comprises a shower cubicle, wash hand basin, WC, part tiled surrounds and a window to the side aspect.

An inner lobby houses a storage cupboard and stairs leading to the first floor landing. The first floor has three generous and well proportioned bedrooms.

The principal bedroom and bedroom two are both set to the rear and benefit from exposed timber floorboards. Bedroom three is set to the front aspect.
A secondary staircase leads up to the loft which is currently being used as a storage area but could be converted into additional living space or further bedrooms subject to planning.

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 and rear.

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 - D
Services - We understand that mains water and electricity are connected to the property, with oil fired central heating and shares a new private drainage system with 2 Woodhall Cottages and further details can be provided.
Tenure - Freehold
Our ref - CHE240199

Agent Details

Fenn Wright, Chelmsford

01246 948443

Next Steps?

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