2 Bed Flat, Single Let, Chatham, ME4 6ED, £118,000

Purbeck Road, Chatham, ME4 6ED - 4 views - 6 months ago

Leasehold
BTL
ROI: 11%
~68 m²
+8 photos

ValuationUndervalued

Sold Prices£90K - £260K
Sold Prices/m²£1.3K/m² - £5.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.7K/m²

Value Estimate

£147,500
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£29,500

Stamp Duty & Legal Fees

£7,100

Total Cash In

£36,600

 

 

Cash Out

 

Rent Range

£800 - £1,450

Rent Estimate

£895

Running Costs/mo

£568

Cashflow/mo

£327

Cashflow/yr

£3,927

ROI

11%

Gross Yield

9%

Local Sold Prices

36 sold prices from £90K to £260K, average is £169.3K. £1.3K/m² to £5.1K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£168.5K03/210.19 miFlat 62, Charlesworth House, Balfour Road, Chatham, Kent ME4 6QT2
£134.5K03/210.2 mi69, Dale Street, Chatham, Medway ME4 6QG2
£162.5K02/210.25 mi31, Dale Street, Chatham, Medway ME4 6QE2
£185K11/210.33 mi26, Armada Way, Chatham, Medway ME4 6PH2
£177K09/210.33 mi8, Armada Way, Chatham, Kent ME4 6PH2
£195K01/230.33 mi5, Armada Way, Chatham, Medway ME4 6PH2
£157K12/210.34 miFlat 7, Blenheim Court, Boundary Road, Chatham, Medway ME4 6UJ2
£160K09/210.38 mi40, Jenkins Dale, Chatham, Medway ME4 5RB2
£150K04/210.4 miFlat 8, Lea Court, Huntsmans Close, Rochester, Medway ME1 2RF2
£185K11/230.42 mi30, Port Rise, Chatham, Medway ME4 6NQ2
£205K08/230.42 mi18, Port Rise, Chatham, Medway ME4 6NQ2
£156K01/210.53 mi57, Mary Court, Chatham, Medway ME4 5NT2
£163K10/210.53 mi42, Mary Court, Chatham, Medway ME4 5NT2
£150K11/200.53 mi54, Mary Court, Chatham, Medway ME4 5NT2
£175K12/220.53 mi15, Mary Court, Chatham, Medway ME4 5NT2
£173.5K12/200.53 mi69, Diana Road, Chatham, Medway ME4 5PW2
£170K04/210.53 mi1, Diana Road, Chatham, Medway ME4 5PW2
£160K12/200.53 mi6, Diana Road, Chatham, Medway ME4 5PW2
£121.5K11/200.53 mi73, Diana Road, Chatham, Medway ME4 5PW2
£155K06/210.61 mi38, Steven Close, Chatham, Medway ME4 5NG2
£166.5K12/200.66 miFlat 14b, Spembley House, New Road Avenue, Chatham, Medway ME4 6BA2
£185K05/210.72 mi52b, High Street, Chatham, Medway ME4 4DS2
£175K04/230.75 mi4, Bingley Road, Rochester, Medway ME1 1BZ2
£260K10/230.79 mi7, Five Bells Lane, Rochester, Medway ME1 1BW2
£149K03/230.83 mi123, Maida Road, Chatham, Medway ME4 5ED2
£120K11/220.85 miFlat 1, Royal Oak House, Doust Way, Rochester, Medway ME1 1FF2
£107K12/200.85 mi200a, Luton Road, Chatham, Medway ME4 5BP2
£107K02/210.85 mi198a, Luton Road, Chatham, Medway ME4 5BP2
£170K01/230.86 mi77, Maida Road, Chatham, Medway ME4 5EB2
£90K07/230.87 mi1d, Longley Road, Rochester, Medway ME1 2HD2
£250K11/220.89 mi2, Ross Street, Rochester, Medway ME1 2DF2
£217.5K09/220.93 miFlat 64, Lyon Court, High Street, Rochester, Medway ME1 1HX2
£215K01/210.93 miFlat 35, Lyon Court, High Street, Rochester, Medway ME1 1HX2
£190K08/210.93 miFlat 36, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£195K07/210.93 miFlat 17, The Eye, Barrier Road, Chatham, Medway ME4 4SD2
£202K01/230.95 miFlat 66, The Eye, Barrier Road, Chatham, Medway ME4 4SD2

Local Rents

39 rents from £800/mo to £1.4K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,15006/240.02 miTop Purbeck Road, Chatham, ME42
£1,15006/240.02 mi-2
£1,25002/250.16 mi-2
£1,25007/240.19 miCharlesworth House, Balfour Road, Chatham, Kent, ME42
£1,25005/240.2 miRosebery Road, Chatham, Kent, ME42
£99005/240.21 mi-2
£1,15006/240.26 mi-2
£1,15006/240.26 miBrenchley Close, Rochester, ME12
£1,20005/240.33 miMaidstone Road, Chatham2
£1,35012/240.37 mi-2
£1,20002/250.38 mi-2
£1,04908/240.4 mi-2
£1,25007/240.42 miPort Rise, Chatham2
£1,40005/240.43 miHaig Avenue, Rochester2
£1,20004/250.47 mi-2
£1,30003/250.47 mi-2
£1,25007/240.47 miGlencoe Road, Chatham, Kent, ME42
£1,25007/240.47 mi-2
£80008/240.48 miSturla Road, Chatham2
£1,20005/240.49 miWilson Avenue Rochester ME12
£1,35007/240.49 miErnest Road, Chatham, Kent, ME42
£1,10005/240.51 mi-2
£1,25001/250.53 mi-2
£1,40004/250.53 mi-2
£1,25007/240.53 miPortside Close, Rochester, Kent, ME1 2FG2
£1,15007/240.53 miMary Court, Chatham, ME5 2
£95008/240.53 mi-2
£1,20007/240.53 mi-2
£1,20002/250.53 mi-2
£1,30003/250.53 mi-2
£1,15005/240.54 miMary Court, Chatham, Kent, ME42
£1,45008/240.54 miChatham Waters, South House, Gillingham Gate Road, Gillingham, ME42
£1,30007/240.56 miNew Road, Chatham2
£1,25007/240.57 miNew Road, Chatham, Kent, ME42
£1,45005/240.59 mi-2
£1,30002/250.6 mi-2
£1,08507/240.6 mi-2
£1,08506/240.6 miWellington Court, Chatham, ME42
£1,35004/250.62 mi-2

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

0.48 miles away

Nearest school

0.10 miles away

Nearest train station

0.52 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £118,000

December 19, 2024

Price changed to £120,000

December 12, 2024

Listed for £122,000

October 27, 2024

Description

  • Buy-to-Let Opportunity +
  • Long Term Tenant Currently Situated +
  • Likely to attract enquiries from Serious Investors & Developers +
  • Spacious room +
  • Garden Ground Space +
  • INVESTMENT POTENTIAL DETAILED BELOW (Let Property Pack) +

Our latest listing is a 2 bedroom flat located in Chatham. It is in close proximity to valuable amenities, is able to generate rewarding rental returns and has a tenant currently situated.

For investors looking to expand their portfolio, this is a fantastic opportunity!

This well-kept home features 2 bedrooms, lounge, kitchen, bathroom and rear garden space.

Investment details

It currently produces an annual gross income of £10,740 which could be increased by the new owner to a market rate of £14,220 with long term tenants currently situated. Considering the purchase price, this will make for a worthwhile addition to an investors property portfolio.

For greater detail on this property's investment potential, please see the Let Property Pack linked below.

If you are interested, please call us.

Tenancy Details

The current tenants have lived in the property for several years and have consistently paid their rent for the duration of their stay. They do not have any intentions to move out so hope to remain in the property.

Let Property Sales are committed to facilitating a smooth transaction process and to allow for maximum commitment to the sale from both parties, a fully refundable buyers premium may apply to secure a property. This amount is not an additional cost and is refunded in the event of non completion.

Agent Details

Let Property Sales & Management, Glasgow

0141 673 7973

Next Steps?

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