4 Bed Bungalow, Refurb/BRRR, Halstead, CO9 1NU, £400,000

Elm Drive, Halstead, Essex, CO9 1NU - 1 views - a year ago

Sold STC
Refurb/BRRR
~129 m²
+17 photos

ValuationOvervalued

Sold Prices£210K - £775K
Sold Prices/m²£1.9K/m² - £5.7K/m²

 

 

Square Metres

~129.26 m²
Price/m²£3.1K/m²

Value Estimate

£316,868

 

 

End Value (After Refurb)

£461,102

Uplift in Value

+15%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£100,000

Stamp Duty & Legal Fees

£28,700

Refurb Costs

£62,000

Bridging Loan Interest

£10,500

Total Cash In

£202,950

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£461,102

Mortgage (After Refinance)

£345,827

Mortgage LTV

75%

Cash Released

£45,827

Cash Left In

£157,123

Equity

£115,276

Rent Range

£900 - £3,200

Rent Estimate

£1,785

Running Costs/mo

£1,818

Cashflow/mo

£-33

Cashflow/yr

£-395

Gross Yield

5%

Local Sold Prices

31 sold prices from £210K to £775K, average is £387.5K. £1.9K/m² to £5.7K/m², average is £3.5K/m².

Price
Date
Distance
Address
Beds
 
£250K03/210.08 mi10, Stanstead Road, Halstead, Essex CO9 1NQ4
£365K01/230.08 mi8, Stanstead Road, Halstead, Essex CO9 1NQ4
£395K03/250.09 mi2, Brewster Close, Halstead CO9 1PW4
£357.5K07/230.12 mi12, River Close, Halstead, Essex CO9 1LZ4
£370K03/250.12 miMercury, Stanstead Road, Halstead CO9 1FA4
£390K02/250.12 mi1, Stanstead Place, Stanstead Road, Halstead CO9 1GQ4
£360K05/210.16 mi12, Meadow Close, Halstead, Essex CO9 1NA4
£470K01/230.23 mi12, Highfields, Halstead, Essex CO9 1NH4
£470K11/240.29 mi27, Ash Rise, Halstead CO9 1RD4
£595K10/210.33 mi4, Chaffinch Way, Halstead, Essex CO9 2HW4
£315K04/210.35 miFactory Terrace, 9, Factory Lane East, Halstead, Essex CO9 2JH4
£505K06/210.41 miRegency House, 47, New Street, Halstead, Essex CO9 1DD4
£426K12/240.42 mi4, Heron Way, Halstead CO9 2FT4
£300K01/230.42 mi135, Colchester Road, Halstead, Essex CO9 2ES4
£270K12/240.43 mi54, Trinity Road, Halstead, Essex CO9 1EB4
£210K05/210.49 mi4a, Hedingham Road, Halstead, Essex CO9 2DA4
£280K06/210.5 mi26, Godwin Close, Halstead, Essex CO9 1XA4
£550K02/210.52 miBrook Farm House, Colchester Road, Halstead, Essex CO9 2HD4
£290K06/230.56 mi98, Colne Road, Halstead, Essex CO9 2HP4
£600K04/230.57 miThe Elms, Mount Hill, Halstead, Essex CO9 1AD4
£282.5K03/210.6 mi1, Prior Close, Halstead, Essex CO9 1AX4
£387.5K12/240.61 mi40, Cherry Tree Close, Halstead CO9 2UA4
£352K07/230.64 mi37, Cherry Tree Close, Halstead, Essex CO9 2UA4
£425K03/250.67 mi38, Chapel Hill, Halstead CO9 1JP4
£295K03/210.69 mi25, Oak Road, Halstead, Essex CO9 1LS4
£590K11/220.72 mi6, Portway Court, Halstead, Essex CO9 2BP4
£432K02/230.77 mi15, Mathews Close, Halstead, Essex CO9 2BJ4
£400K10/220.8 mi28, Winston Way, Halstead, Essex CO9 2TH4
£485K11/240.8 mi12, Hurrell Close, Halstead CO9 1FP4
£350K04/210.81 mi50, Churchill Avenue, Halstead, Essex CO9 2BE4
£775K03/230.91 mi33, Sloe Hill, Halstead, Essex CO9 1JT4

Local Rents

39 rents from £900/mo to £3.2K/mo, average is £1.4K/mo.

Rent
Date
Distance
Address
Beds
 
£95007/250.08 miStanstead Road, Halstead, Essex, CO93
£1,35008/250.14 miRavens Avenue, Halstead4
£90008/250.21 miKings Road, Halstead, Essex3
£92507/250.22 miRayner Way, Halstead, Essex, CO93
£1,35008/250.24 miTidings Hill, Halstead, Essex, CO93
£1,35008/250.26 miSt. James Close, Halstead3
£1,80003/250.3 mi-3
£1,90005/250.3 mi-3
£1,90007/250.3 mi-3
£1,90006/250.3 mi-3
£1,65004/250.33 mi-3
£1,60004/250.33 mi-4
£1,40008/250.35 miParsonage Street, Halstead, CO93
£1,30012/240.35 mi-3
£1,80006/250.35 mi-3
£1,80007/250.35 mi-3
£1,80007/250.35 mi-3
£1,40008/250.35 mi-3
£1,29507/250.37 miThe Causeway, Halstead, Essex, CO93
£1,45007/250.4 miHeron Way, Halstead3
£1,80007/250.43 miWhite Horse Avenue, Halstead3
£1,20005/250.43 miBridge street, Halstead3
£1,20006/250.43 miBridge street, Halstead3
£1,15006/250.43 miBridge street, Halstead3
£1,15008/250.43 miBridge street, Halstead3
£1,55007/250.46 miPretoria Road, Halstead CO9 3
£1,55008/250.46 miPretoria Road, Halstead CO9 3
£99512/240.49 miWhite Horse Avenue, Halstead, Essex, CO93
£1,60008/250.5 miTrinity Road, Halstead3
£1,30008/250.5 miGodwin Close, HALSTEAD3
£3,20012/240.52 mi-3
£1,20008/250.55 miColne Road, Halstead, Essex, CO93
£1,69512/240.55 miWillow Way, Halstead4
£1,25006/250.55 miMount Rise, Halstead3
£1,10007/250.55 miTweed Close, Halstead3
£1,30008/250.56 miColne Road3
£1,80012/240.57 miConies Road, Halstead4
£1,29508/250.59 miColne Road3
£1,49505/250.59 mi-3

Local Area Statistics

Population in CO9

25,162

Town centre distance

0.31 miles away

Nearest school

0.30 miles away

Nearest train station

5.70 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+40%

Sales demand

Seller's market

Capital growth (5yrs)

+22%

Property History

Listed for £400,000

August 31, 2024

Floor Plans

Description

Located in the desirable Elm Drive, Halstead, this 4-bedroom bungalow offers an excellent opportunity for a new homeowner to make it their own.

The property offers a generous layout, featuring a large kitchen, Living room/diner, bathroom, a shower room, and four well-proportioned bedrooms.

While the bathroom, living room/diner, and hallways are in need of renovation, this bungalow has great potential for transformation into a contemporary living space. The expansive driveway, capable of accommodating 4-5 cars, includes a convenient carport, providing ample parking and storage options.

With its large plot and scope for renovation, this property is a fantastic opportunity to create your ideal home in a sought-after location.

Halstead itself is known for its abundance of boutique shops, independent stores, delightful restaurants, cafes, and stunning walking routes. With a population exceeding 12,000, the town has experienced steady growth over time. The 3 primary schools and secondary school provides convenient schooling, and the town takes pride in its healthcare facilities, which include a hospital and medical centre.

Agent Details

Leaders Sales, Halstead

01787 322229

Next Steps?

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