2 Bed Flat, Refurb/BRRR, Chelmsford, CM2 8RU, £185,000

339 Barnard Road, Chelmsford, Essex, CM2 8RU - 17 views - 6 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 6%
~68 m²
+4 photos

ValuationFair Value

Sold Prices£107.5K - £420K
Sold Prices/m²£1.9K/m² - £6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.7K/m²

Value Estimate

£186,850

 

 

End Value (After Refurb)

£280,698

Uplift in Value

+52%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Refurb Costs

£33,303

Bridging Loan Interest

£4,856

Total Cash In

£92,909

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£280,698

Agent Fees (1%)

£2,807

Bridging Loan

£138,750

Bridging Loan Interest

£4,856

Flip Profit

£46,232

Local Sold Prices

41 sold prices from £107.5K to £420K, average is £218K. £1.9K/m² to £6K/m², average is £4K/m².

PriceDateDistanceAddressBeds 
£210K01/230.04 mi88a, Barnard Road, Chelmsford, Essex CM2 8SR2
£160K12/200.32 mi59, Archers Way, Chelmsford, Essex CM2 8SB2
£189K10/201.35 mi34, Dove Lane, Chelmsford, Essex CM2 8AX2
£218K02/231.46 mi84, Readers Court, Chelmsford, Essex CM2 8HA2
£250K03/211.54 mi32, Lambourne Chase, Chelmsford, Essex CM2 9FF2
£290K03/231.63 mi18, Pearl Square, Chelmsford, Essex CM2 9FP2
£247.5K05/231.66 mi14, Wood Dale, Great Baddow, Chelmsford, Essex CM2 8EZ2
£190K06/211.66 mi23, Wood Dale, Great Baddow, Chelmsford, Essex CM2 8EZ2
£224K03/211.66 mi30, Wood Dale, Great Baddow, Chelmsford, Essex CM2 8EZ2
£240K07/231.66 mi19, Wood Dale, Great Baddow, Chelmsford, Essex CM2 8EZ2
£237.5K02/211.67 mi37, Park View Crescent, Great Baddow, Chelmsford, Essex CM2 8HX2
£190K10/211.67 mi32, Park View Crescent, Great Baddow, Chelmsford, Essex CM2 8HX2
£215K04/231.73 mi66, Maltings Road, Chelmsford, Essex CM2 8HG2
£265K01/211.76 mi11, Grace Bartlett Gardens, Chelmsford, Essex CM2 9FW2
£300K09/211.76 mi5, Grace Bartlett Gardens, Chelmsford, Essex CM2 9FW2
£225K04/211.88 mi24, Burghley Way, Chelmsford, Essex CM2 9LQ2
£230K12/201.88 mi44, Burghley Way, Chelmsford, Essex CM2 9LQ2
£235K01/231.88 mi10, Waterson Vale, Chelmsford, Essex CM2 9PB2
£212.5K06/211.89 mi44, Harberd Tye, Chelmsford, Essex CM2 9GJ2
£206K09/211.89 mi42, Harberd Tye, Chelmsford, Essex CM2 9GJ2
£215K08/231.89 mi40, Harberd Tye, Chelmsford, Essex CM2 9GJ2
£250K04/211.89 mi106, Harberd Tye, Chelmsford, Essex CM2 9GJ2
£200K12/201.9 mi23, Kingfisher Lodge, Chelmsford, Essex CM2 7JZ2
£210K11/201.9 mi9, Kingfisher Lodge, Chelmsford, Essex CM2 7JZ2
£183K06/211.91 mi13, Brooklands Walk, Chelmsford, Essex CM2 9BH2
£204K12/201.91 mi52, Brooklands Walk, Chelmsford, Essex CM2 9BH2
£237.5K09/211.91 mi17, Searle Close, Chelmsford, Essex CM2 9GB2
£120K05/231.91 mi1, Searle Close, Chelmsford, Essex CM2 9GB2
£183K06/211.92 mi13, Brooklands Walk, Chelmsford, Essex CM2 9BH2
£107.5K12/201.92 mi6, Searle Close, Chelmsford, Essex CM2 9GB2
£203K02/211.94 mi26, Gerard Gardens, Chelmsford, Essex CM2 9GD2
£247K12/201.95 miFlat 14, Roberts Court, Baddow Road, Chelmsford, Essex CM2 9RQ2
£260K03/211.95 miFlat 34, Roberts Court, Baddow Road, Chelmsford, Essex CM2 9RQ2
£238K07/231.95 miFlat 23, Roberts Court, Baddow Road, Chelmsford, Essex CM2 9RQ2
£200K05/231.96 mi65, Redmayne Drive, Chelmsford, Essex CM2 9XG2
£247.5K01/231.97 mi5, Goodwin Close, Chelmsford, Essex CM2 9GX2
£237K06/211.97 mi21, Goodwin Close, Chelmsford, Essex CM2 9GX2
£112.5K01/231.98 mi214, Redmayne Drive, Chelmsford, Essex CM2 9XE2
£227.5K12/221.99 mi162, Redmayne Drive, Chelmsford, Essex CM2 9XE2
£215K07/231.99 mi21, Amcotes Place, Chelmsford, Essex CM2 9HZ2
£420K03/211.99 mi16, The Vineyards, Great Baddow, Chelmsford, Essex CM2 7QS2

Local Rents

50 rents from £750/mo to £2.5K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£97505/240 miBarnard Road, Chelmsford2
£1,95002/240.16 mi-3
£1,70004/240.21 miLower Green, Galleywood, Chelmsford, CM23
£1,50004/240.39 miBarnard Road, Chelmsford3
£95004/240.39 miBarnard Road, Chelmsford1
£1,69505/240.47 miStock Road, Galleywood, Chelmsford3
£1,55004/240.51 miKeene Way, CM23
£1,40004/240.52 miCannon Leys3
£1,70003/240.56 miCannon Leys, Chelmsford4
£1,70001/250.57 mi-3
£2,00004/240.64 miVale End, Galleywood, Chelmsford4
£1,80003/250.97 mi-3
£1,80005/241.02 mi-3
£1,80004/241.16 miPrivate Road, Chelmsford, Essex, CM22
£1,50003/241.2 miLinnet Drive, Tile Kiln, Chelmsford, CM2 8AL3
£1,52503/241.2 miLinnet Drive, Chelmsford3
£1,55002/241.2 mi-3
£1,57505/241.2 mi-3
£1,55002/241.23 mi-3
£1,50010/231.31 miPlane Tree Close, Chelmsford, Essex, CM23
£1,50002/251.37 mi-4
£1,52502/241.4 mi-3
£1,69510/231.44 miNoakes Avenue, Chelmsford, Essex, CM23
£1,80003/251.47 mi-3
£1,65004/241.5 miCypress Drive, Chelmsford, Essex, CM23
£1,79505/241.51 miNoakes Avenue, CHELMSFORD3
£75003/241.59 miSpringbok House, Chelmsford1
£1,40003/241.59 miHeycroft Way, Great Baddow, Chelmsford, CM22
£1,40004/241.59 miHeycroft Way, Great Baddow, Chelmsford, CM22
£1,80002/251.6 mi-3
£1,80011/241.63 mi-3
£1,79504/241.63 miWhitethorn Gardens, Chelmsford, Essex, CM23
£1,29503/241.66 miAsh Grove, Chelmsford, Essex, CM22
£1,80003/251.67 mi-2
£1,49505/241.68 miMary Munnion Quarter, Chelmsford, CM22
£1,55004/241.68 miMary Munnion Quarter, Chelmsford, Essex, CM22
£1,25003/251.69 mi-2
£2,50004/241.69 miEastwood Park Great Baddow Chelmsford Essex4
£2,20004/241.69 miEastwood Park Great Baddow Chelmsford Essex4
£1,69504/241.7 miRose Glen, Chelmsford, Essex, CM23
£1,65003/251.71 mi-3
£2,09503/241.71 miPertwee Drive, CM24
£1,55004/241.74 miDorset Avenue, CHELMSFORD3
£2,10001/251.74 mi-3
£2,00004/241.75 miGrace Bartlett Gardens, Chelmsford, CM23
£2,00004/241.75 miGrace Bartlett Gardens, Chelmsford, CM23
£2,00004/241.75 mi-3
£2,20003/251.75 mi-3
£1,45004/241.76 miGrace Bartlett Gardens, CM22
£2,00003/241.76 miGreenland Gardens, Galleywood Road, CM24

Local Area Statistics

Population in CM2

58,244

Population in Chelmsford

174,693

Town centre distance

2.93 miles away

Nearest school

0.30 miles away

Nearest train station

2.85 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £185,000

October 15, 2024

Sold for £54,995

2000

Sold for £46,250

1997

Floor Plans

Description

  • FIRST FLOOR APARTMENT +
  • TWO GOOD SIZE BEDROOMS +
  • KITCHEN / BREAKFAST ROOM +
  • SPACIOUS LOUNGE +
  • SHOWER ROOM +
  • CLOSE TO A12 +
  • CONVENIENT FOR LOCAL SHOPS +
  • COMMUNAL GROUNDS +
  • COMMUNAL PARKING +
  • NO ONWARD CHAIN +

In need of some modernisation, a particularly spacious two bedroom first floor flat with a good size kitchen, communal parking and grounds. The popular Galleywood location gives easy access to the A12, local shops and is convenient for the City centre.

Communal entrance door controlled by entry phone system to communal hallway, stairs that rise to the first floor, personal door though to

ENTRANCE HALL
Built in cupboard, doors to

KITCHEN 3.48m (11'5") x 2.62m (8'7")
Window to rear, tiled flooring, base and eye level units with roll top work surface, single drainer stainless steel sink unit, space for utilities.

LOUNGE 4.80m (15'9") x 3.48m (11'5")
Window to front.

INNER HALL
Loft access, airing cupboard housing hot water tank, doors to

SHOWER ROOM
Window to rear, white suite comprising low level w.c, pedestal wash hand basin, shower cubicle.

BEDROOM ONE 3.48m (11'5") x 3.20m (10'6")
Window to front, built in cupboard.

BEDROOM TWO 2.87m (9'5") x 2.26m (7'5")
Window to rear.

COMMUNAL GROUNDS & PARKING
Please be aware that should you be successful in having an offer accepted through Adrians, we are legally required by the HMRC to conduct AML (Anti-Money Laundering) Checks for compliance efforts. For this there is a non-refundable charge of £20.00 including VAT per person which will be invoice receipted for your records.

AGENTS NOTE
We understand from the seller a rough calculation to extend the lease by another 90 years will cost approx £8000 to £9000 - The Landlords are CHP.

Agent Details

Adrians, Chelmsford

01245 945751

Next Steps?

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

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