2 Bed Flat, Single Let, Chatham, ME5 7BQ, £150,000

Upper Luton Road, Chatham, ME5 7BQ - 4 views - 7 months ago

Sold STC

Leasehold

BTL

ROI: 9%

~68 m²

+4 photos

ValuationUndervalued

Sold Prices	£90K - £245K
Sold Prices/m²	£1.3K/m² - £4.5K/m²

Square Metres	~68.11 m²
Price/m²	£2.2K/m²
Value Estimate	£178,136£178,136
BMV	19%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£37,500£37,500
Stamp Duty & Legal Fees	£5,700£5,700
Total Cash In	£43,200£43,200

Cash Out
Rent Range	£950 - £2,050£950 - £2,050
Rent Estimate	£1,000
Running Costs/mo	£689£689
Cashflow/mo	£311£311
Cashflow/yr	£3,735£3,735
ROI	9%9%
Gross Yield	8%8%

Local Sold Prices

32 sold prices from £90K to £245K, average is £161.3K. £1.3K/m² to £4.5K/m², average is £2.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£165K	03/23	0.05 mi	70, Upper Luton Road, Chatham, Medway ME5 7BQ	£3,634	45	2	Flat
£195K	09/22	0.11 mi	195, Constitution Road, Chatham, Medway ME5 7DJ	£4,535	43	2	Flat
£107K	12/20	0.16 mi	200a, Luton Road, Chatham, Medway ME4 5BP	£1,981	54	2	Flat
£107K	02/21	0.16 mi	198a, Luton Road, Chatham, Medway ME4 5BP	£1,597	67	2	Flat
£170K	01/23	0.17 mi	77, Maida Road, Chatham, Medway ME4 5EB	-	-	2	Flat
£149K	03/23	0.21 mi	123, Maida Road, Chatham, Medway ME4 5ED	£2,525	59	2	Flat
£155K	06/21	0.4 mi	38, Steven Close, Chatham, Medway ME4 5NG	£2,500	62	2	Flat
£160K	02/23	0.42 mi	Top Flat, 8b, Stuart Road, Gillingham, Medway ME7 4AA	£2,388	67	2	Flat
£173.5K	12/20	0.47 mi	69, Diana Road, Chatham, Medway ME4 5PW	£3,615	48	2	Flat
£170K	04/21	0.47 mi	1, Diana Road, Chatham, Medway ME4 5PW	£2,615	65	2	Flat
£160K	12/20	0.47 mi	6, Diana Road, Chatham, Medway ME4 5PW	£2,286	70	2	Flat
£121.5K	11/20	0.47 mi	73, Diana Road, Chatham, Medway ME4 5PW	£1,813	67	2	Flat
£156K	01/21	0.48 mi	57, Mary Court, Chatham, Medway ME4 5NT	£2,836	55	2	Flat
£163K	10/21	0.48 mi	42, Mary Court, Chatham, Medway ME4 5NT	£2,264	72	2	Flat
£150K	11/20	0.48 mi	54, Mary Court, Chatham, Medway ME4 5NT	£2,830	53	2	Flat
£175K	12/22	0.48 mi	15, Mary Court, Chatham, Medway ME4 5NT	£3,241	54	2	Flat
£245K	03/21	0.54 mi	24, Watling Street, Gillingham, Medway ME7 2YH	-	-	2	Flat
£157.5K	09/22	0.58 mi	Flat 38, Kingsdale Court, Hopewell Drive, Chatham, Medway ME5 7NN	-	-	2	Flat
£150K	11/22	0.58 mi	Flat 43, Kingsdale Court, Hopewell Drive, Chatham, Medway ME5 7NN	-	-	2	Flat
£131K	10/20	0.58 mi	Flat 16, Kingsdale Court, Hopewell Drive, Chatham, Medway ME5 7NN	-	-	2	Flat
£158.5K	03/21	0.74 mi	62, Wiltshire Close, Chatham, Medway ME5 7SR	-	-	2	Flat
£165K	10/21	0.74 mi	49, Wiltshire Close, Chatham, Medway ME5 7SR	£2,750	60	2	Flat
£160K	09/21	0.76 mi	40, Jenkins Dale, Chatham, Medway ME4 5RB	£2,648	60	2	Flat
£185K	11/23	0.84 mi	30, Port Rise, Chatham, Medway ME4 6NQ	£4,022	46	2	Flat
£205K	08/23	0.84 mi	18, Port Rise, Chatham, Medway ME4 6NQ	-	-	2	Flat
£185K	11/21	0.85 mi	26, Armada Way, Chatham, Medway ME4 6PH	£3,391	55	2	Flat
£177K	09/21	0.85 mi	8, Armada Way, Chatham, Kent ME4 6PH	£3,161	56	2	Flat
£195K	01/23	0.85 mi	5, Armada Way, Chatham, Medway ME4 6PH	-	-	2	Flat
£190K	12/22	0.9 mi	10, Solent Gardens, Chatham, Medway ME5 7TB	-	-	2	Flat
£162.5K	02/21	0.97 mi	31, Dale Street, Chatham, Medway ME4 6QE	£2,031	80	2	Flat
£90K	11/22	0.99 mi	50a, High Street, Gillingham, Medway ME7 1AZ	£1,343	67	2	Flat
£134.5K	03/21	0.99 mi	69, Dale Street, Chatham, Medway ME4 6QG	£2,242	60	2	Flat

Local Rents

52 rents from £950/mo to £2K/mo, average is £1.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,050	06/24	0.01 mi	-	2	Flat
£1,050	06/24	0.01 mi	-	2	Flat
£1,050	06/24	0.01 mi	-	2	Flat
£1,400	03/25	0.08 mi	-	2	Terraced House
£1,200	05/24	0.11 mi	Chatham Hill, Chatham, Kent, ME5	2	Flat
£1,250	06/24	0.12 mi	Imperial Road, Gillingham	2	Terraced House
£1,250	07/24	0.12 mi	-	2	Terraced House
£1,250	06/24	0.12 mi	Chatham Hill, Chatham, ME5	2	Terraced House
£1,250	07/24	0.12 mi	Chatham Hill, Chatham, ME5	2	Terraced House
£1,100	05/24	0.13 mi	Chatham Hill, Chatham	2	Flat
£1,050	05/24	0.13 mi	Luton Road, Chatham	2	Flat
£1,150	08/24	0.14 mi	-	2	Flat
£1,150	07/24	0.14 mi	Constitution Road, Chatham, ME5	2	Flat
£1,150	07/24	0.14 mi	Constitution Road, Chatham, ME5	2	Flat
£1,200	08/24	0.15 mi	-	2	Terraced House
£1,300	06/24	0.17 mi	Edinburgh Road, Chatham, Kent, ME4	2	House
£1,100	01/24	0.17 mi	-	2	Terraced House
£1,200	05/24	0.18 mi	Upper Luton Road, Chatham, Kent, ME5	2	Terraced House
£1,200	06/24	0.18 mi	Upper Luton Road, Chatham, Kent, ME5	2	Terraced House
£1,150	07/24	0.18 mi	Upper Luton Road, Chatham, Kent, ME5	2	Terraced House
£1,200	05/24	0.2 mi	Thorold Road, Chatham, Kent, ME5	2	Terraced House
£1,350	05/24	0.2 mi	-	2	Flat
£1,400	06/24	0.2 mi	-	2	Flat
£1,300	12/24	0.21 mi	-	2	Terraced House
£1,250	02/25	0.21 mi	-	2	Terraced House
£1,100	05/24	0.25 mi	Victoria Road, Chatham	2	Flat
£1,300	06/24	0.27 mi	Milton Road, Gillingham	2	Terraced House
£1,450	07/24	0.29 mi	-	2	Terraced House
£1,450	07/24	0.29 mi	Castle Road, Chatham, ME4	2	Terraced House
£1,300	08/24	0.3 mi	Gordon Road Chatham ME4	2	Terraced House
£1,350	12/24	0.3 mi	-	2	Terraced House
£1,200	06/24	0.31 mi	Gordon Road, Chatham	2	Terraced House
£1,150	06/24	0.31 mi	Gordon Road, Chatham	2	Terraced House
£2,050	04/24	0.32 mi	-	2	Flat
£1,250	03/25	0.34 mi	-	2	Terraced House
£1,200	07/24	0.35 mi	Ward View, Chatham,	2	Flat
£1,150	07/24	0.35 mi	Gordon Road, CHATHAM	2	House
£1,300	03/24	0.35 mi	Shakespeare Road,Gillingham,ME7	2	Terraced House
£1,350	03/25	0.39 mi	-	2	Terraced House
£1,410	12/24	0.4 mi	-	2	Flat
£1,150	12/24	0.41 mi	-	2	Terraced House
£1,300	02/25	0.41 mi	-	2	Flat
£1,400	05/24	0.42 mi	Chatham, ME4	2	Flat
£1,375	05/24	0.42 mi	Canterbury Street Gillingham ME7	2	Terraced House
£975	05/24	0.43 mi	Alton Mews, Canterbury Street, Gillingham, ME7	2	Flat
£1,395	05/24	0.43 mi	-	2	Flat
£1,200	05/24	0.43 mi	Canterbury Street Gillingham ME7	2	Terraced House
£1,150	05/24	0.46 mi	-	2	Flat
£1,200	07/24	0.48 mi	-	2	Flat
£950	08/24	0.48 mi	-	2	Flat
£1,200	02/25	0.48 mi	-	2	Flat
£1,150	07/24	0.48 mi	Mary Court, Chatham, ME5	2	Flat

Local Area Statistics

Population in ME5	51,76451,764
Population in Chatham	82,04482,044
Town centre distance	0.77 miles away0.77 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.91 miles away0.91 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+17%+17%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+21%+21%

Property History

Listed for £150,000

September 13, 2024

Floor Plans

Description

No Onward Chain +
Two Double Bedrooms +
Some Updating Required +
Ideal Buy-to-Let or First-time Buy +
Includes Ownership Of Freehold For Building +
Popular Location +

Introducing, this charming two-bedroom first-floor apartment, ideally situated in a central and convenient location on Upper Luton Road, Chatham. Perfectly positioned for easy access to local amenities and transport links, this property offers an excellent opportunity for first-time buyers or investors.

Inside, the property features a spacious living room, a separate kitchen, two generously sized double bedrooms, and a family bathroom. While the apartment would benefit from some updating, it presents a blank canvas for the new owner to personalise and add value. The layout is practical and well-suited for comfortable living, with ample space for a couple or small family.

Externally, the property includes its own patch of garden/outdoor space. Additionally, the sale includes ownership of the freehold for the building, which comprises of four leasehold properties, offering added value and potential long-term benefits.

Don’t miss out on this unique opportunity, call us today for more information or to arrange a viewing.

Entrance Hall -

Living Room - 3.66m x 3.15m (12'0 x 10'4) -

Kitchen - 2.87m x 1.80m (9'5 x 5'11) -

Bedroom - 3.33m x 3.15m (10'11 x 10'4) -

Bedroom - 2.87m x 2.26m (9'5 x 7'5) -

Family Bathroom - 1.91m x 1.55m (6'3 x 5'1) -

Agent Details

CR Real Estate, Gillingham

01634 570057

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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ValuationUndervalued

CashflowsOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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5 Bed House, Single Let, Chatham, ME5 7DW

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Cashflows

Local Sold Prices

Local Rents