3 Bed Semi-Detached House, Refurb/BRRR, Chatham, ME5 0NR, £290,000

Sussex Drive, Chatham, Kent, ME5 0NR - 5 views - 6 months ago

Sold STC

Refurb/BRRR

ROI: 1%

~93 m²

+10 photos

ValuationUndervalued

Sold Prices	£230K - £540K
Sold Prices/m²	£2.5K/m² - £6.5K/m²

Square Metres	~93 m²
Price/m²	£3.1K/m²
Value Estimate	£298,700£298,700
BMV	3%

End Value (After Refurb)	£323,499£323,499
Uplift in Value	+12%+12%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£72,500£72,500
Stamp Duty & Legal Fees	£11,900£11,900
Refurb Costs	£45,600£45,600
Bridging Loan Interest	£7,613£7,613
Total Cash In	£139,363£139,363

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£323,499£323,499
Mortgage (After Refinance)	£242,625£242,625
Mortgage LTV	75%75%
Cash Released	£25,125£25,125
Cash Left In	£114,238£114,238
Equity	£80,875£80,875
Rent Range	£1,200 - £2,000£1,200 - £2,000
Rent Estimate	£1,389
Running Costs/mo	£1,309£1,309
Cashflow/mo	£80£80
Cashflow/yr	£963£963
ROI	1%1%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £230K to £540K, average is £300K. £2.5K/m² to £6.5K/m², average is £3.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£265K	12/20	0 mi	96, Sussex Drive, Chatham, Medway ME5 0NR	£3,437	77	3	Semi-Detached House
£283K	04/21	0 mi	118, Sussex Drive, Chatham, Medway ME5 0NR	£3,253	87	3	Terraced House
£330K	07/23	0.04 mi	7, The Beeches, Chatham, Medway ME5 0NS	£3,665	90	3	Semi-Detached House
£356K	03/23	0.08 mi	12, Juniper Close, Chatham, Medway ME5 0NX	£3,456	103	3	Terraced House
£460K	05/23	0.09 mi	275, Walderslade Road, Chatham, Medway ME5 0NH	-	-	3	Detached House
£237K	12/20	0.09 mi	45, Princes Avenue, Chatham, Medway ME5 8AY	£2,788	85	3	Terraced House
£260K	07/23	0.09 mi	57, Princes Avenue, Chatham, Medway ME5 8AY	£3,095	84	3	Terraced House
£420K	12/22	0.1 mi	71, Princes Avenue, Chatham, Medway ME5 8AY	£4,719	89	3	Detached House
£265K	04/21	0.11 mi	52, Sussex Drive, Chatham, Medway ME5 0NP	£2,880	92	3	Semi-Detached House
£332.5K	06/21	0.12 mi	76, Princes Avenue, Chatham, Medway ME5 8AH	-	-	3	Detached House
£230K	02/21	0.12 mi	4, Sussex Drive, Chatham, Medway ME5 0NJ	£3,026	76	3	Semi-Detached House
£264K	11/20	0.13 mi	13, Sussex Drive, Chatham, Medway ME5 0NJ	£3,429	77	3	Semi-Detached House
£260K	10/21	0.18 mi	127, Princes Avenue, Chatham, Kent ME5 8AX	£3,447	75	3	Terraced House
£235K	12/20	0.18 mi	133, Princes Avenue, Chatham, Medway ME5 8AX	£3,092	76	3	Terraced House
£287K	03/21	0.19 mi	9, Peacock Rise, Chatham, Medway ME5 8RN	£3,588	80	3	Semi-Detached House
£300K	12/20	0.19 mi	10, Peacock Rise, Chatham, Medway ME5 8RN	£3,903	77	3	Semi-Detached House
£250K	03/21	0.19 mi	223, Walderslade Road, Chatham, Kent ME5 0NQ	£2,778	90	3	Terraced House
£325K	08/23	0.2 mi	27, Brendon Avenue, Chatham, Medway ME5 8JG	£4,063	80	3	Terraced House
£247K	10/21	0.2 mi	9, Brendon Avenue, Chatham, Medway ME5 8JG	-	-	3	Semi-Detached House
£305K	03/23	0.2 mi	5, Princes Avenue, Chatham, Medway ME5 8BA	£3,910	78	3	Semi-Detached House
£245K	02/21	0.21 mi	141, Sundridge Drive, Chatham, Medway ME5 8JE	£3,224	76	3	Detached House
£347K	06/23	0.23 mi	12, Birchfields, Chatham, Medway ME5 8AE	-	-	3	Semi-Detached House
£287.5K	05/21	0.24 mi	53, Gatcombe Close, Chatham, Medway ME5 7RD	£2,758	104	3	Semi-Detached House
£300K	11/20	0.24 mi	3, Gatcombe Close, Chatham, Kent ME5 7RD	£4,545	66	3	Detached House
£284K	02/23	0.24 mi	78, Sundridge Drive, Chatham, Medway ME5 8HY	£3,787	75	3	Terraced House
£460K	03/21	0.24 mi	29, Dargets Road, Chatham, Medway ME5 8BJ	£4,792	96	3	Detached House
£290K	08/23	0.27 mi	14, Sundridge Drive, Chatham, Medway ME5 8HE	-	-	3	Semi-Detached House
£246K	09/21	0.27 mi	7, Sundridge Drive, Chatham, Medway ME5 8HE	-	-	3	Terraced House
£320K	04/21	0.27 mi	12, Hillborough Grove, Chatham, Medway ME5 8JA	£3,232	99	3	Semi-Detached House
£266K	07/21	0.27 mi	38, Weeds Wood Road, Chatham, Medway ME5 0QS	£2,463	108	3	Terraced House
£337.5K	02/23	0.28 mi	142, Sundridge Drive, Chatham, Medway ME5 8JD	-	-	3	Semi-Detached House
£297K	02/23	0.28 mi	114, Sundridge Drive, Chatham, Medway ME5 8JD	£4,014	74	3	Semi-Detached House
£270K	11/21	0.29 mi	168, Sundridge Drive, Chatham, Medway ME5 8HG	£3,462	78	3	Terraced House
£240K	09/21	0.29 mi	149, Sundridge Drive, Chatham, Medway ME5 8JE	£3,288	73	3	Terraced House
£245K	12/20	0.29 mi	199, Walderslade Road, Chatham, Kent ME5 0ND	£2,526	97	3	Terraced House
£540K	10/21	0.31 mi	61, Chestnut Avenue, Walderslade, Chatham, Medway ME5 9BB	£3,529	153	3	Detached House
£360K	02/23	0.32 mi	5, Chevening Close, Chatham, Medway ME5 7PZ	-	-	3	Detached House
£349K	03/21	0.32 mi	6, Downland Walk, Chatham, Medway ME5 8AF	£4,058	86	3	Detached House
£312K	02/21	0.32 mi	8, Repton Way, Chatham, Medway ME5 9AY	£3,852	81	3	Semi-Detached House
£350K	04/23	0.32 mi	12, Smith Road, Chatham, Medway ME5 8DR	£4,375	80	3	Semi-Detached House
£380K	04/23	0.32 mi	6, Oakland Close, Chatham, Medway ME5 9AW	-	-	3	Semi-Detached House
£390K	12/20	0.33 mi	80, Dargets Road, Chatham, Medway ME5 8BL	£4,286	91	3	Detached House
£490K	03/21	0.33 mi	62, Dargets Road, Chatham, Medway ME5 8BL	£4,188	117	3	Semi-Detached House
£385K	05/21	0.33 mi	72, Dargets Road, Chatham, Medway ME5 8BL	-	-	3	Detached House
£300K	04/23	0.33 mi	47, Prince Charles Avenue, Chatham, Medway ME5 8EY	-	-	3	Detached House
£335K	12/20	0.33 mi	55, Prince Charles Avenue, Chatham, Medway ME5 8EY	£3,526	95	3	Detached House
£292.5K	11/20	0.33 mi	12, Mossbank, Chatham, Medway ME5 8AB	£6,500	45	3	Semi-Detached House
£330K	04/21	0.35 mi	22, Bronington Close, Chatham, Medway ME5 7RA	£3,976	83	3	Detached House
£322.5K	03/23	0.35 mi	2, Bronington Close, Chatham, Medway ME5 7RA	-	-	3	Semi-Detached House
£400K	11/22	0.35 mi	6, Bronington Close, Chatham, Medway ME5 7RA	-	-	3	Detached House

Local Rents

20 rents from £1.2K/mo to £2K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,400	07/24	0.03 mi	Sussex Drive, Chatham , Kent	3	Semi-Detached House
£1,550	12/24	0.2 mi	-	3	Terraced House
£1,900	03/25	0.21 mi	-	3	Terraced House
£1,400	06/24	0.21 mi	Sundridge Drive, Walderslade, Chatham, Kent, ME5	3	Terraced House
£1,400	06/24	0.21 mi	Sundridge Drive, Walderslade, Chatham, Kent, ME5	3	Terraced House
£1,400	07/24	0.21 mi	Sundridge Drive, Walderslade, Chatham, Kent, ME5	3	Terraced House
£1,400	07/24	0.21 mi	Sundridge Drive, Walderslade, Chatham, Kent, ME5	3	Terraced House
£1,550	01/25	0.29 mi	-	3	Semi-Detached House
£1,200	07/24	0.43 mi	Admirals Walk, Lordswood, ME5	3	Flat
£1,550	06/24	0.47 mi	Bromley Close, Chatham, Kent, ME5	3	Terraced House
£2,000	12/24	0.48 mi	-	3	Detached House
£1,450	05/24	0.48 mi	-	3	Semi-Detached House
£1,700	03/25	0.48 mi	-	3	Terraced House
£1,400	05/24	0.52 mi	-	3	Semi-Detached House
£1,450	11/24	0.55 mi	-	3	Semi-Detached House
£1,200	05/24	0.58 mi	Kellaway Road, Chatham, Kent, ME5	3	Terraced House
£1,300	05/24	0.58 mi	Meadside Walk, Walderslade	3	Terraced House
£1,500	06/24	0.59 mi	Quickthorn Crescent, Walderslade, Chatham, Kent, ME5	3	Semi-Detached House
£1,400	06/24	0.59 mi	King George Road, Chatham, Kent, ME5	3	Terraced House
£1,450	05/24	0.6 mi	-	3	Semi-Detached House

Local Area Statistics

Population in ME5	51,76451,764
Population in Chatham	82,04482,044
Town centre distance	1.58 miles away1.58 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	2.44 miles away2.44 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 £290,000

October 17, 2024

Floor Plans

Description

3 Bedroom Detached House +
Garage To Rear +
Downstairs W/C +
Popular Location +
In Need of Modernisation +
No Chain +

Guide Price £290,000 - £300,000

Robinson, Michael & Jackson are delighted to offer this three bedroom family home in a popular part of Walderslade.

Although in need of modernisation we feel this property will make a great family home and briefly comprises entrance hall, lounge, dining room, kitchen and w.c on the ground floor with three bedrooms and the bathroom upstairs.

Externally there are front and rear gardens and overlooks a green making it safe for the kids to play outside.

There is also a garage to the rear.

Sussex drive is a popular residential location and offers good access to local amenities including being in walking distance of primary and secondary schools.

OFFERED TO THE MARKET WITH NO ONWARD CHAIN.

Exterior
Rear Garden: (Approx 30ft) Patio area, remainder laid to lawn.

Garage to rear