3 Bed Detached House, Refurb/BRRR, Derby, DE22 2AE, £270,000

Cadgwith Drive, Derby, DE22 2AE - 3 views - 5 months ago

Refurb/BRRR
~93 m²
+13 photos

ValuationUndervalued

Sold Prices£153.5K - £460K
Sold Prices/m²£2.2K/m² - £5.5K/m²

 

 

Square Metres

~93 m²
Price/m²£2.9K/m²

Value Estimate

£285,600
BMV2%

 

 

End Value (After Refurb)

£300,248

Uplift in Value

+7%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£67,500

Stamp Duty & Legal Fees

£11,100

Refurb Costs

£37,600

Bridging Loan Interest

£7,088

Total Cash In

£125,038

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£300,248

Mortgage (After Refinance)

£225,186

Mortgage LTV

75%

Cash Released

£22,686

Cash Left In

£102,352

Equity

£75,062

Rent Range

£875 - £1,400

Rent Estimate

£1,177

Running Costs/mo

£1,194

Cashflow/mo

£-17

Cashflow/yr

£-200

Gross Yield

5%

Local Sold Prices

50 sold prices from £153.5K to £460K, average is £283.5K. £2.2K/m² to £5.5K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£331.7K02/210 mi4, Cadgwith Drive, Derby, City Of Derby DE22 2AE3
£300K05/230.05 mi13, Pentewan Close, Darley Abbey, Derby, City Of Derby DE22 2BL3
£380K07/230.06 mi6, Windermere Crescent, Allestree, Derby, City Of Derby DE22 2SE3
£335K03/230.09 mi5, Chatsworth Crescent, Allestree, Derby, City Of Derby DE22 2AP3
£205K07/210.1 mi22, Rannoch Close, Allestree, Derby, City Of Derby DE22 2SJ3
£232K03/210.11 mi44, Ferrers Way, Derby, City Of Derby DE22 2BA3
£242.5K06/210.11 mi46, Ferrers Way, Derby, City Of Derby DE22 2BA3
£263K07/210.11 mi42, Ferrers Way, Derby, City Of Derby DE22 2BA3
£222K10/210.11 mi93, Portreath Drive, Allestree, Derby, City Of Derby DE22 2SA3
£315K12/220.15 mi59, Ferrers Way, Derby, City Of Derby DE22 2BB3
£228K06/210.17 mi195, Birchover Way, Allestree, Derby, Derbyshire DE22 2RU3
£279K01/230.2 mi24, Finningley Drive, Allestree, Derby, City Of Derby DE22 2XP3
£246K01/210.2 mi30, Finningley Drive, Allestree, Derby, City Of Derby DE22 2XP3
£310K08/210.21 mi13, Abbey Hill Road, Allestree, Derby, City Of Derby DE22 2PT3
£300K06/210.21 mi243, Birchover Way, Allestree, Derby, City Of Derby DE22 2RS3
£265K07/230.21 mi245, Birchover Way, Allestree, Derby, City Of Derby DE22 2RS3
£220.5K05/230.22 mi180, Birchover Way, Allestree, Derby, City Of Derby DE22 2RT3
£210K11/200.23 mi30, Clifton Road, Allestree, Derby, City Of Derby DE22 2PH3
£196K12/200.23 mi33, Clifton Road, Allestree, Derby, City Of Derby DE22 2PJ3
£227K05/210.23 mi5, Buttermere Drive, Allestree, Derby, City Of Derby DE22 2SP3
£327K03/230.23 mi7, Causeway, Darley Abbey, Derby, City Of Derby DE22 2BW3
£212K11/200.24 mi56, Buttermere Drive, Allestree, Derby, City Of Derby DE22 2SN3
£215K12/200.26 mi137, Portreath Drive, Allestree, Derby, City Of Derby DE22 2SB3
£205K09/210.26 mi123, Portreath Drive, Allestree, Derby, City Of Derby DE22 2SB3
£248K05/210.28 mi101, Allestree Lane, Allestree, Derby, Derbyshire DE22 2HS3
£337K09/210.29 mi10, Devonshire Avenue, Allestree, Derby, City Of Derby DE22 2AT3
£153.5K12/200.32 mi8, Church Lane North, Darley Abbey, Derby, City Of Derby DE22 1EU3
£330K03/210.34 mi34, Allestree Lane, Allestree, Derby, City Of Derby DE22 2HR3
£460K03/210.35 mi372, Duffield Road, Allestree, Derby, City Of Derby DE22 1ER3
£331K07/210.36 mi23, Sycamore Avenue, Allestree, Derby, Derbyshire DE22 2HZ3
£217.5K03/210.36 mi5, Sycamore Avenue, Allestree, Derby, City Of Derby DE22 2HZ3
£245K08/210.36 mi12, Plough Gate, Darley Abbey, Derby, City Of Derby DE22 1FH3
£270K03/230.39 mi173, Allestree Lane, Allestree, Derby, City Of Derby DE22 2PG3
£331K10/210.39 mi19, Harewood Road, Allestree, Derby, City Of Derby DE22 2JP3
£335K03/230.39 mi11, Alstonfield Drive, Allestree, Derby, City Of Derby DE22 2XF3
£288K03/230.39 mi22, Alstonfield Drive, Allestree, Derby, City Of Derby DE22 2XF3
£300K12/200.39 mi1, Alstonfield Drive, Allestree, Derby, City Of Derby DE22 2XF3
£325.5K01/210.39 mi8, Harewood Road, Allestree, Derby, Derbyshire DE22 2JN3
£233.5K07/210.4 mi2, Welwyn Avenue, Allestree, Derby, City Of Derby DE22 2JQ3
£275K08/210.42 mi63, Birchover Way, Allestree, Derby, City Of Derby DE22 2QH3
£335.1K08/210.44 mi46, Church Lane, Darley Abbey, Derby, City Of Derby DE22 1EY3
£335K12/220.44 mi180, Blenheim Drive, Allestree, Derby, City Of Derby DE22 2GN3
£374K03/210.45 mi4, Haddon Drive, Allestree, Derby, City Of Derby DE22 2LT3
£374K03/210.45 mi4, Haddon Drive, Allestree, Derby, City Of Derby DE22 2LT3
£340K05/210.45 mi4, Lanscombe Park Road, Allestree, Derby, City Of Derby DE22 2XL3
£325K11/200.45 mi78, Darley Abbey Drive, Darley Abbey, Derby, Derbyshire DE22 1EF3
£240K04/210.45 mi84, Darley Abbey Drive, Darley Abbey, Derby, City Of Derby DE22 1EF3
£342.5K06/230.45 mi90, Darley Abbey Drive, Darley Abbey, Derby, City Of Derby DE22 1EF3
£296K03/230.45 mi32, Darley Abbey Drive, Darley Abbey, Derby, City Of Derby DE22 1EF3
£242K12/200.46 mi8, Blenheim Drive, Allestree, Derby, City Of Derby DE22 2LB3

Local Rents

10 rents from £875/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,00012/240.03 miCadgwith Drive, Allestree, Derby3
£1,20012/240.26 miPortreath Drive, Allestree, Derby3
£1,10012/240.31 miThe Crest, Darley Abbey, Derby, Derbyshire3
£1,00012/240.32 miDrum Close, Allestree3
£1,19512/240.37 mi3 Bedroom Detached House, Plough Gate, Darley Abbey3
£1,40012/240.39 miCrabtree Hill, Allestree DE22 2SR3
£1,35012/240.39 miCrabtree Hill Drive, DE22 2SR3
£87512/240.48 miLavender Row, Darley Abbey, Derby3
£1,35012/240.5 miLawn Avenue, Allestree3
£1,30011/230.5 mi-3

Local Area Statistics

Population in DE22

46,001

Population in Derby

308,324

Town centre distance

2.33 miles away

Nearest school

0.30 miles away

Nearest train station

2.44 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+2%

Sales demand

Seller's market

Capital growth (5yrs)

+15%

Property History

Price changed to £270,000

January 3, 2025

Listed for £280,000

November 8, 2024

Floor Plans

Description

  • No upward chain +
  • Three bedrooms +
  • Spacious lounge +
  • In need of modernising +
  • Driveway and garage +

SUMMARY
Situated on Cadgwith Drive in the popular suburb of Allestree, this three-bedroom property presents an excellent opportunity to create a family home tailored to your taste

DESCRIPTION
Situated on Cadgwith Drive in the popular suburb of Allestree, this three-bedroom property presents an excellent opportunity to create a family home tailored to your taste. While it does require some modernisation, this home offers generous living spaces and a highly desirable location, making it perfect for those looking to add value. On the ground floor, you'll find a spacious lounge leading to a dedicated dining area, ideal for family meals or entertaining. The kitchen diner provides plenty of space for cooking and casual dining, while a convenient downstairs shower room adds extra practicality. Upstairs, there are three well-sized bedrooms and a family bathroom. Outside, the property includes a private driveway with off-road parking, a garage, and a good-sized rear garden that offers plenty of potential for landscaping or outdoor entertaining.

Located in Allestree, this property enjoys access to a wealth of local amenities. The area boasts several well-regarded schools, parks, and the popular Markeaton Park, making it a favored choice for families. The Park Farm Shopping Centre, with a range of shops, cafes, and essentials, is within easy reach, as are larger retail stores nearby. Commuters will appreciate the excellent transport links, with quick access to the A38 and A52, providing routes to Derby city centre, surrounding towns, and major motorway connections. Regular bus services also make getting into Derby and nearby areas convenient.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Hall & Benson, Allestree

01332 215559

Next Steps?

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