2 Bed Flat, Refurb/BRRR, Hitchin, SG4 9AA, £220,000

Garrison Court, Hitchin, SG4 9AA - 2 views - 4 months ago

Sold STC
Leasehold
Refurb/BRRR
~68 m²
+5 photos

ValuationFair Value

Sold Prices£126K - £825K
Sold Prices/m²£2K/m² - £16.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.2K/m²

Value Estimate

£220,000

 

 

End Value (After Refurb)

£404,501

Uplift in Value

+84%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Refurb Costs

£32,460

Bridging Loan Interest

£5,775

Total Cash In

£102,785

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£404,501

Agent Fees (1%)

£4,045

Bridging Loan

£165,000

Bridging Loan Interest

£5,775

Flip Profit

£132,671

Local Sold Prices

50 sold prices from £126K to £825K, average is £275K. £2K/m² to £16.2K/m², average is £4.3K/m².

PriceDateDistanceAddressBeds 
£230K11/200.01 mi47, Garrison Court, Hitchin, Hertfordshire SG4 9AA2
£200K02/210.01 mi39, Garrison Court, Hitchin, Hertfordshire SG4 9AA2
£305K11/210.15 mi27, William Ransom Way, Hitchin, Hertfordshire SG5 1QX2
£300K12/200.15 mi30, William Ransom Way, Hitchin, Hertfordshire SG5 1QX2
£292K06/230.2 mi51, Peppermint Road, Hitchin, Hertfordshire SG5 1RY2
£295K01/230.2 mi21, Peppermint Road, Hitchin, Hertfordshire SG5 1RY2
£297.3K11/200.2 miApartment 2, Caldicott Court, Harrison Close, Hitchin, Hertfordshire SG4 9SL2
£370K02/230.2 miApartment 5, Caldicott Court, Harrison Close, Hitchin, Hertfordshire SG4 9SL2
£275K03/210.2 miApartment 16, Caldicott Court, Harrison Close, Hitchin, Hertfordshire SG4 9SL2
£235K06/210.22 miFlat 21, Harrison Court, Harrison Close, Hitchin, Hertfordshire SG4 9SG2
£300K06/210.22 miFlat 9, Harrison Court, Harrison Close, Hitchin, Hertfordshire SG4 9SG2
£291K11/220.22 miFlat 19, Harrison Court, Harrison Close, Hitchin, Hertfordshire SG4 9SG2
£336K10/220.26 miFlat 12, Hazel Court, The Avenue, Hitchin, Hertfordshire SG4 9SJ2
£325K03/230.26 miFlat 4, Hazel Court, The Avenue, Hitchin, Hertfordshire SG4 9SJ2
£590K03/210.27 mi1a, The Avenue, Hitchin, Hertfordshire SG4 9RG2
£387.5K06/210.3 mi94a, Tilehouse Street, Hitchin, Hertfordshire SG5 2DW2
£825K06/210.33 mi21a, Verulam Road, Hitchin, Hertfordshire SG5 1QE2
£290K05/210.36 miFlat 30, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£257K04/210.36 miFlat 5, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£285K01/210.36 miFlat 36, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£275K08/210.36 miFlat 6, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£275.6K02/230.37 miFlat 8, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£212.7K11/200.39 mi29, Wratten Road East, Hitchin, Hertfordshire SG5 2AS2
£280K02/230.39 mi24, Wratten Road East, Hitchin, Hertfordshire SG5 2AS2
£126K04/230.4 mi20, Capswell Court, Hitchin, Hertfordshire SG5 1ET2
£270K09/220.4 mi9, Wedmore Road, Hitchin, Hertfordshire SG4 9JH2
£255K05/230.43 miFlat 59, Sanders Place, Walsworth Road, Hitchin, Hertfordshire SG4 9SY2
£267K06/230.43 miFlat 24, Sanders Place, Walsworth Road, Hitchin, Hertfordshire SG4 9SY2
£265K06/230.43 miFlat 32, Maples Court, Bedford Road, Hitchin, Hertfordshire SG5 1HF2
£275K02/230.47 mi6, The Maples, Hitchin, Hertfordshire SG4 9HA2
£240K05/230.47 mi19, The Maples, Hitchin, Hertfordshire SG4 9HA2
£225K05/210.49 mi59, Sunnyside Road, Hitchin, Hertfordshire SG4 9JQ2
£250K03/210.59 mi23, Grays Lane, Hitchin, Hertfordshire SG5 2HH2
£225K11/210.64 miFlat 29, Sharps Court, Cooks Way, Hitchin, Hertfordshire SG4 0JG2
£162K03/210.64 miFlat 46, Sharps Court, Cooks Way, Hitchin, Hertfordshire SG4 0JG2
£207K11/200.64 miFlat 36, Sharps Court, Cooks Way, Hitchin, Hertfordshire SG4 0JG2
£222.5K01/210.64 miFlat 5, Sharps Court, Cooks Way, Hitchin, Hertfordshire SG4 0JG2
£221K04/210.64 miFlat 38, Sharps Court, Cooks Way, Hitchin, Hertfordshire SG4 0JG2
£295K01/210.66 mi3, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£315K07/230.67 mi26, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£280K10/210.67 mi46, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£270K03/210.67 mi18, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£285K10/200.67 mi40, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£288K07/230.67 mi1, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£230K07/210.68 mi67, Lancaster Avenue, Hitchin, Hertfordshire SG5 1PA2
£220K04/210.68 mi63, Lancaster Avenue, Hitchin, Hertfordshire SG5 1PA2
£215K09/200.69 mi40, Wedgewood Road, Hitchin, Hertfordshire SG4 0EX2
£200K09/220.7 mi6, Holdbrook, Hitchin, Hertfordshire SG4 9QW2
£293K11/220.72 mi14, Bramfield, Hitchin, Hertfordshire SG4 9QA2
£245K01/230.73 mi61, Wedgewood Road, Hitchin, Hertfordshire SG4 0HB2

Local Rents

50 rents from £1.1K/mo to £1.7K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,25008/240.02 miGarrison Court, Hitchin, SG42
£1,37508/240.06 miQueen Street, Hitchin, SG42
£1,39502/250.06 mi-2
£1,37512/240.14 miWhinbush Road, HITCHIN2
£1,39508/240.14 miWhinbush Road, Hitchin, SG52
£1,50008/240.15 miSt Andrews Place, Hitchin, SG42
£1,40012/240.16 mi-2
£1,10008/240.18 miChurchyard, Hitchin, SG52
£1,30008/240.19 miPeppermint Road, HITCHIN, SG52
£1,40012/240.2 miPeppermint Road, HITCHIN2
£1,50012/240.2 miPeppermint Road, SG52
£1,45012/240.2 miPeppermint Road, Hitchin2
£1,30008/240.24 miBancroft, Hitchin, SG52
£1,40012/240.25 miCoopers Yard, Paynes Park, Hitchin2
£1,37512/240.25 miCoopers Yard, Paynes Park, Hitchin2
£1,25008/240.25 miBucklersbury, Hitchin, SG52
£1,40008/240.3 miPaynes Park, Hitchin, SG52
£1,50012/240.3 miPaynes Park, Hitchin, SG52
£1,30001/250.3 mi-2
£1,30008/240.31 mi-2
£1,70012/240.31 mi-2
£1,70002/250.31 mi-2
£1,30008/240.32 miTilehouse Street, Hitchin, SG52
£1,65002/240.32 mi-2
£1,20008/240.32 miKempe Mews, Tilehouse Street, Hitchin, SG52
£1,50008/240.33 miPaynes Park, HITCHIN, SG52
£1,25008/240.33 miBancroft, Hitchin, SG52
£1,60008/240.35 miRadcliffe Road, Hitchin, SG52
£1,20008/240.35 miTilehouse Street, Hitchin, SG52
£1,50008/240.38 miNightingale Road2
£1,39508/240.38 miVerulam Road, Hitchin, SG52
£1,10008/240.39 miPark Close, Wratten Road East, Hitchin2
£1,20008/240.39 miSt Annes Road, Hitchin, SG52
£1,65002/240.4 mi-2
£1,15008/240.42 miWalsworth Road, Hitchin, Hertfordshire, SG42
£1,07503/250.42 mi-2
£1,16502/240.42 mi-2
£1,20002/240.42 mi-2
£1,29508/240.42 mi-2
£1,35003/250.43 mi-2
£1,45002/250.43 mi-2
£1,30012/240.43 miSanders Place, Walsworth Road, Hitchin2
£1,35012/240.43 miSanders Place, Walsworth Road, Hitchin, SG42
£1,20008/240.44 miFishponds Road, Hitchin, SG52
£1,25008/240.44 miNightingale Road, Hitchin, SG52
£1,20008/240.44 miLatchmore Close, Hitchin, Hitchin, SG42
£1,30012/240.48 miLyon Court, Walsworth Road, Hitchin, SG42
£1,45012/240.48 miLyon Court, Walsworth Road, Hitchin, SG42
£1,25012/240.49 mi-2
£1,32501/250.49 mi-2

Local Area Statistics

Population in SG4

28,864

Population in Hitchin

60,216

Town centre distance

0.30 miles away

Nearest school

0.10 miles away

Nearest train station

0.58 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+22%

Property History

Listed for £220,000

November 2, 2024

Sold for £125,000

2006

Floor Plans

Description

  • EXTENDED LEASE with PEPPERCORN GROUND RENT +
  • WOULD BENEFIT FROM FULL MODERNISATION +
  • Permit parking (costed) available +
  • 0.2 miles to Hitchin Town Centre +
  • 0.6 miles to Hitchin Train station +
  • NO ONWARD CHAIN +

EXTENDED LEASE (at a cost of £39,000). Peppercorn Ground Rent. This two bedroom ground floor flat is vacant and ready for someone to go in and refurbish throughout. All rooms would benefit from modernisation and re-decoration. What a great opportunity this offers in such a central location. Parking permits are purchasable and with a peppercorn ground rent and a very reasonable service charge (under £1500 per annum) this is great value for money. NO ONWARD CHAIN. These particulars are intended to give a fair and reliable description of the property but no responsibility for any inaccuracy or error can be accepted and do not constitute an offer or contract. We have not tested any services or appliances (including central heating if fitted) referred to in these particulars and the purchasers are advised to satisfy themselves as to the working order and condition. If a property is unoccupied at any time there may be reconnection charges for any switched off/disconnected or drained services or appliances. All measurements are approximate.

Agent Details

Wellington Evans, Hitchin

01462 229555

Next Steps?

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