2 Bed Terraced House, Refurb/BRRR, Chelmsford, CM2 0RR, £310,000

New Writtle Street, Chelmsford, CM2 0RR - 5 views - 8 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~68 m²
+9 photos

ValuationUndervalued

Sold Prices£257K - £507K
Sold Prices/m²£3.4K/m² - £6.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.6K/m²

Value Estimate

£321,369

 

 

End Value (After Refurb)

£320,000

Uplift in Value

+-2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£77,500

Stamp Duty & Legal Fees

£14,700

Refurb Costs

£33,303

Bridging Loan Interest

£8,138

Total Cash In

£135,390

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£320,000

Mortgage (After Refinance)

£240,000

Mortgage LTV

75%

Cash Released

£7,500

Cash Left In

£127,890

Equity

£80,000

Rent Range

£1,150 - £1,650

Rent Estimate

£1,383

Running Costs/mo

£1,297

Cashflow/mo

£86

Cashflow/yr

£1,037

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £257K to £507K, average is £340K. £3.4K/m² to £6.5K/m², average is £4.8K/m².

PriceDateDistanceAddressBeds 
£325K03/210 mi17, New Writtle Street, Chelmsford, Essex CM2 0RR2
£330K06/210.01 mi16, New Writtle Street, Chelmsford, Essex CM2 0RR2
£320K11/210.05 mi53, Baker Street, Chelmsford, Essex CM2 0SA2
£330K02/210.08 mi4, Seymour Street, Chelmsford, Essex CM2 0RX2
£329K03/210.1 mi6, Upper Bridge Road, Chelmsford, Essex CM2 0RT2
£410K02/230.12 mi81, Lower Anchor Street, Chelmsford, Essex CM2 0AU2
£310K05/210.15 mi89, Bradford Street, Chelmsford, Essex CM2 0BG2
£425K12/220.19 mi14, Anchor Street, Chelmsford, Essex CM2 0JY2
£318K09/210.19 mi10, Anchor Street, Chelmsford, Essex CM2 0JY2
£335K02/230.23 mi170, Upper Bridge Road, Chelmsford, Essex CM2 0BB2
£345K01/210.23 mi148, Upper Bridge Road, Chelmsford, Essex CM2 0BB2
£312.5K02/210.24 mi148, Moulsham Street, Chelmsford, Essex CM2 0LD2
£312.5K02/210.24 mi148, Moulsham Street, Chelmsford, Essex CM2 0LD2
£357K12/200.26 mi29, Marlborough Road, Chelmsford, Essex CM2 0JR2
£380K06/210.3 mi15, Hamlet Road, Chelmsford, Essex CM2 0EU2
£392K12/200.3 mi9, Nursery Road, Chelmsford, Essex CM2 9PJ2
£320K11/200.3 mi12, Belle Vue, Chelmsford, Essex CM2 0BD2
£350K06/210.31 mi14, Grove Road, Chelmsford, Essex CM2 0EY2
£395K12/200.32 mi15, Nursery Road, Chelmsford, Essex CM2 9PL2
£275K11/210.35 mi48, Roman Road, Chelmsford, Essex CM2 0HB2
£340K03/210.35 mi134, Upper Bridge Road, Chelmsford, Essex CM2 0BA2
£330K04/210.35 mi104, Upper Bridge Road, Chelmsford, Essex CM2 0BA2
£350K01/210.36 mi93, Upper Bridge Road, Chelmsford, Essex CM2 0BA2
£265K06/210.36 mi124, Upper Bridge Road, Chelmsford, Essex CM2 0BA2
£285K11/210.37 mi6, Vicarage Road, Chelmsford, Essex CM2 9PG2
£375K11/200.38 mi46, Vicarage Road, Chelmsford, Essex CM2 9PQ2
£273K10/200.39 mi119, Upper Bridge Road, Chelmsford, Essex CM2 0BA2
£460K08/210.41 mi119, Mildmay Road, Chelmsford, Essex CM2 0DS2
£419K02/210.41 mi93, Mildmay Road, Chelmsford, Essex CM2 0DS2
£375K07/230.44 mi11, Parker Road, Chelmsford, Essex CM2 0ES2
£420K12/220.48 mi27, Lady Lane, Chelmsford, Essex CM2 0TG2
£507K11/200.48 mi74, Manor Road, Chelmsford, Essex CM2 0ER2
£302K10/210.49 mi17, Townfield Street, Chelmsford, Essex CM1 1QJ2
£257K06/230.5 mi5, Townfield Street, Chelmsford, Essex CM1 1QJ2
£362.5K05/210.51 mi23, Goldlay Road, Chelmsford, Essex CM2 0EJ2
£285K06/230.53 mi26, Townfield Street, Chelmsford, Essex CM1 1QL2
£360K05/210.54 mi86, Waterhouse Street, Chelmsford, Essex CM1 2TZ2
£350K01/210.54 mi73, Waterhouse Street, Chelmsford, Essex CM1 2TZ2
£380K03/230.56 mi63, South Primrose Hill, Chelmsford, Essex CM1 2RF2
£450K01/230.56 mi85, South Primrose Hill, Chelmsford, Essex CM1 2RF2
£355K02/210.56 mi51, South Primrose Hill, Chelmsford, Essex CM1 2RF2
£430K03/230.56 mi39, South Primrose Hill, Chelmsford, Essex CM1 2RF2
£405K02/230.56 mi81, South Primrose Hill, Chelmsford, Essex CM1 2RF2
£280K03/210.57 mi42, South Primrose Hill, Chelmsford, Essex CM1 2RG2
£320K10/200.57 mi34, South Primrose Hill, Chelmsford, Essex CM1 2RG2
£325K11/200.58 mi21, Primrose Hill, Chelmsford, Essex CM1 2RH2
£325K11/200.58 mi45, Primrose Hill, Chelmsford, Essex CM1 2RH2
£280K04/230.59 mi49, Waterhouse Lane, Chelmsford, Essex CM1 2TE2
£340K12/220.62 mi13, Waterhouse Lane, Chelmsford, Essex CM1 2TE2
£350K12/200.63 mi31, Victoria Crescent, Chelmsford, Essex CM1 1QF2

Local Rents

50 rents from £1.1K/mo to £1.6K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,35004/240 miNew Writtle Street, Chelmsford, CM2 0RR2
£1,25003/240.01 miNew Writtle Street, Chelmsford, CM22
£1,25004/240.01 miNew Writtle Street, Chelmsford, CM22
£1,40004/240.01 miNew Writtle Street, Chelmsford, CM22
£1,35005/240.01 miNew Writtle Street, Chelmsford, CM22
£1,35004/250.01 mi-2
£1,50012/240.05 miWolseley Road, Chelmsford, Essex, CM22
£1,20005/240.09 miStapleford Close, Chelmsford, CM22
£1,20012/240.09 miStapleford Close, Chelmsford, CM22
£1,49504/240.09 miCentury Tower, Chelmsford, CM22
£1,47504/240.09 miCentury Tower, Shire Gate, Chelmsford2
£1,47504/240.09 miCentury Tower, Shire Gate, Chelmsford2
£1,55001/250.1 mi-2
£1,50004/240.1 miCentury Tower, Shire Gate, Chelmsford2
£1,50005/240.1 miCentury Tower, Shire Gate, Chelmsford2
£1,49504/240.1 miEssex County Cricket Ground, Chelmsford, CM22
£1,49504/240.1 mi-2
£1,35004/240.1 miCENTURY TOWER, Shire Gate, Chelmsford2
£1,35004/240.11 miFalcons Mead, CITY CENTRE, Chelmsford, CM2 0NN2
£1,30004/240.11 miUpper Bridge Road, Chelmsford2
£1,35003/240.12 miLower Anchor Street, Chelmsford, CM22
£1,35003/240.12 miLower Anchor Street, Chelmsford, CM22
£1,30003/240.12 mi-2
£1,30003/240.12 miUpper Bridge Road, Chelmsford, CM22
£1,19504/240.12 miLower Anchor Street, Old Moulsham2
£1,30005/240.16 miBradford Street, Chelmsford2
£1,35001/250.17 mi-2
£1,30004/240.17 miAnchor Street, Chelmsford, CM22
£1,40004/240.18 miUpper Bridge Road, Chelmsford2
£1,40004/240.18 miUpper Bridge Road, Chelmsford2
£1,25004/240.19 miAnchor Street, Chelmsford, CM2 0JY2
£1,39504/240.19 miAnchor Street, CHELMSFORD2
£1,25001/250.21 mi-2
£1,15004/240.21 miHaig Court, Chelmsford, CM22
£1,20004/240.21 miHaig Court, CHELMSFORD2
£1,55004/240.21 miCounty Place, CHELMSFORD2
£1,30004/240.21 miCounty Place, Chelmsford, CM22
£1,36503/240.22 miCarlton House, Chelmsford2
£1,35003/240.23 miUpperbridge Road, Old Moulsham, Chelmsford, CM22
£1,40003/240.23 miUpperbridge Road, Old Moulsham, Chelmsford, CM22
£1,37503/240.25 miRedcliffe Road, Old Moulsham, Chelmsford, CM22
£1,65002/240.25 mi-2
£1,62503/240.26 miBurgess Springs, Chelmsford, CM12
£1,60003/240.26 miBurgess Springs, Chelmsford, CM12
£1,60003/240.26 miBurgess Springs, Chelmsford, CM12
£1,60004/240.26 miBurgess Springs, Chelmsford, CM12
£1,59504/240.26 miBurgess Springs, Chelmsford, CM12
£1,59504/240.26 miBurgess Springs, Chelmsford, CM12
£1,57505/240.26 miBurgess Springs, Chelmsford, CM12
£1,25004/240.27 miKing George Court, Old Moulsham2

Local Area Statistics

Population in CM2

58,244

Population in Chelmsford

174,693

Town centre distance

0.46 miles away

Nearest school

0.10 miles away

Nearest train station

0.40 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Price changed to £310,000

December 4, 2024

Listed for £325,000

August 31, 2024

Floor Plans

Description

  • Two/Three Bedroom +
  • Terreced House +
  • Within Ten Minuite Walk to City Centre and Station +
  • Property in Need of Modernisation +
  • Off Street Parking +

SUMMARY
Connells is delighted to showcase this charming two-bedroom period home, featuring original characteristics. Nestled in the highly desirable Old Moulsham area, the property is conveniently located near the city center and is just a ten-minute stroll through Central Park to Chelmsford.

DESCRIPTION
Connells is delighted to showcase this charming two-bedroom period home, featuring original characteristics. Nestled in the highly desirable Old Moulsham area, the property is conveniently located near the city center and is just a ten-minute stroll through Central Park to Chelmsford's mainline railway station.

The layout of the property includes an entrance leading into a lounge complete with a feature fireplace, followed by a dining room that steps down into the kitchen area. At the rear, you will find a ground floor bathroom. Upstairs, there are three bedrooms: a spacious double bedroom with a window facing the front, a second bedroom, and a third bedroom adjoining the latter.

The front of the property boasts a paved area, while the rear garden is laid to lawn, complemented by off-road parking for one vehicle-an invaluable asset in this area.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Chelmsford

01245 945312

Next Steps?

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