6 Bed HMO, Chelmsford, CM1 7HB, £650,000

14 Broomhall Road, Chelmsford, Essex, CM1 7HB - 2 views - 7 months ago

HMO
ROI: 2%
142 m²
+13 photos

ValuationOvervalued

Sold Prices£565K - £1.4M
Sold Prices/m²£3.3K/m² - £4.3K/m²

 

 

Square Metres

142 m²
Price/m²£4.6K/m²

Value Estimate

£517,613

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£162,500

Stamp Duty & Legal Fees

£40,700

Total Cash In

£203,200

 

 

Cash Out

 

Room Rate

£667

Gross Rent

£4,002

Running Costs/mo

£3,645

Cashflow/mo

£357

Cashflow/yr

£4,286

ROI

2%

Gross Yield

7%

Local Sold Prices

6 sold prices from £565K to £1.4M, average is £721K. £3.3K/m² to £4.3K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£820K05/210.4 mi210, Main Road, Broomfield, Chelmsford, Essex CM1 7AJ6
£618.5K03/211.47 mi3, Leeford, Chelmsford, Essex CM1 4WT6
£1.4M02/211.64 mi30, Shardelow Avenue, Springfield, Chelmsford, Essex CM1 6BG6
£622K12/201.65 mi17, Humber Road, Chelmsford, Essex CM1 7PE6
£903.3K03/211.99 mi12, Wharton Drive, Springfield, Chelmsford, Essex CM1 6BF6
£565K06/212.67 mi28, Beeleigh Link, Chelmsford, Essex CM2 6RG6

Local Area Statistics

Population in CM1

62,617

Population in Chelmsford

174,693

Town centre distance

2.28 miles away

Nearest school

0.20 miles away

Nearest train station

2.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £650,000

September 5, 2024

Sold for £85,000

1997

Floor Plans

Description

  • INVESTMENT OPPORTUNITY +
  • SIX BED HMO +
  • TWO EN-SUITES +
  • FAMILY BATHROOM +
  • LIVING AREA +
  • KITCHEN +
  • OFF STREET PARKING +
  • LARGE GARDEN +

Presenting a rare opportunity for investors or as a large family home this detached bungalow is currently listed for sale and is in good condition throughout, the property offers a lucrative HMO investment opportunity with six bedrooms and three bathrooms. Ideally located with convenient access to public transport links, walking routes, the hospital and cycling paths, the property caters to a variety of lifestyle needs.

The property boasts one spacious reception room and a modern kitchen, both designed in an open-plan layout that encourages a seamless flow of space. The kitchen is equipped with modern appliances making it the perfect hub for family gatherings or casual dining.

Featuring six well-appointed bedrooms, the property can comfortably house families, couples, or multiple tenants. Two bedrooms are double-sized with en-suites, offering ample space for occupants, while the remaining four are single-sized, perfect for guests or children. 

Unique features of this property include a dedicated parking space and a lush garden, providing outdoor space for relaxation or entertaining.

With its thoughtful layout, modern amenities, and strategic location, this detached bungalow serves as an excellent investment opportunity. It is equally ideal for families and couples looking for a comfortable and convenient place to call home. The current income is just over £4k pcm.
Double bedroom with ensuite 16'3max x 10'9 Kitchen living area 21'max x 19' max Double bedroom with en-suite 17' x 11' Bedroom 10'9 x 8'8 Bedroom 14'3 x 8'3 Bathroom  Bedroom 10'10 x 8'6 Bedroom 12'2 x 11' EPC band: D Disclaimer Whilst we make enquiries with the Seller to ensure the information provided is accurate, Yopa makes no representations or warranties of any kind with respect to the statements contained in the particulars which should not be relied upon as representations of fact. All representations contained in the particulars are based on details supplied by the Seller. Your Conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. Please inform us if you become aware of any information being inaccurate. Money Laundering Regulations Should a purchaser(s) have an offer accepted on a property marketed by Yopa, they will need to undertake an identification check and asked to provide information on the source and proof of funds. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use a specialist third party service together with an in-house compliance team to verify your information. The cost of these checks is £70 +VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.

Agent Details

Yopa, East Anglia & London

01270 447764

Next Steps?

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