2 Bed Terraced House, Refurb/BRRR, Letchworth Garden City, SG6 4QB, £290,000

Maycroft, Letchworth Garden City, SG6 4QB - 5 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~65 m²
+6 photos

ValuationFair Value

Sold Prices£215K - £655K
Sold Prices/m²£3.6K/m² - £7.5K/m²

 

 

Square Metres

~64.70 m²
Price/m²£4.5K/m²

Value Estimate

£294,240

 

 

End Value (After Refurb)

£260,505

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£72,500

Stamp Duty & Legal Fees

£20,200

Refurb Costs

£30,834

Bridging Loan Interest

£7,613

Total Cash In

£132,897

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£260,505

Mortgage (After Refinance)

£195,379

Mortgage LTV

75%

Cash Left In

£132,897

Equity

£65,126

Rent Range

£565 - £1,795

Rent Estimate

£1,198

Running Costs/mo

£1,074

Cashflow/mo

£124

Cashflow/yr

£1,492

ROI

1%

Gross Yield

5%

Local Sold Prices

37 sold prices from £215K to £655K, average is £315K. £3.6K/m² to £7.5K/m², average is £4.8K/m².

PriceDateDistanceAddressBeds 
£330K11/200.06 mi51, Eastern Way, Letchworth Garden City, Hertfordshire SG6 4PG2
£299.2K04/210.1 mi52, Sparhawke, Letchworth Garden City, Hertfordshire SG6 4PX2
£300K06/210.17 mi61, Gaunts Way, Letchworth Garden City, Hertfordshire SG6 4PL2
£290K06/210.27 mi50, Ordelmere, Letchworth Garden City, Hertfordshire SG6 4QR2
£310K11/200.3 mi34, Northfields, Letchworth Garden City, Hertfordshire SG6 4QS2
£300K05/230.33 mi95, Gaunts Way, Letchworth Garden City, Hertfordshire SG6 4PP2
£455K04/230.39 mi9, Westholm, Letchworth Garden City, Hertfordshire SG6 4JB2
£320K03/210.41 mi15, Woodhurst, Letchworth Garden City, Hertfordshire SG6 4LX2
£298K05/210.48 mi10, Woodhurst, Letchworth Garden City, Hertfordshire SG6 4LY2
£325K12/200.56 mi172, Glebe Road, Letchworth Garden City, Hertfordshire SG6 1DY2
£260K05/210.58 mi193, Glebe Road, Letchworth Garden City, Hertfordshire SG6 1DZ2
£315K07/230.58 mi203, Glebe Road, Letchworth Garden City, Hertfordshire SG6 1DZ2
£303K03/210.62 mi64, Kristiansand Way, Letchworth Garden City, Hertfordshire SG6 1UE2
£250K06/230.62 mi23, Tabbs Close, Letchworth Garden City, Hertfordshire SG6 1DW2
£257K04/230.62 mi22, Tabbs Close, Letchworth Garden City, Hertfordshire SG6 1DW2
£220K06/210.63 mi87, Pascal Way, Letchworth Garden City, Hertfordshire SG6 1DL2
£215K07/210.63 mi2, Pascal Way, Letchworth Garden City, Hertfordshire SG6 1DL2
£255K04/230.63 mi65, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LQ2
£275K06/210.64 mi118, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LH2
£330K12/220.67 mi15, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LJ2
£269K08/210.67 mi3, Swift Close, Letchworth Garden City, Hertfordshire SG6 4LJ2
£400K03/210.69 mi1, Wheat Hill, Letchworth Garden City, Hertfordshire SG6 4HH2
£385K11/210.69 mi20, Wheat Hill, Letchworth Garden City, Hertfordshire SG6 4HJ2
£250K03/210.7 mi61, Sanderling Close, Letchworth Garden City, Hertfordshire SG6 4HZ2
£260K06/210.71 mi31, Sanderling Close, Letchworth Garden City, Hertfordshire SG6 4HY2
£300K07/210.78 mi28, Kite Way, Letchworth Garden City, Hertfordshire SG6 4YQ2
£655K11/220.85 miGreenways, Nevells Green, Letchworth Garden City, Hertfordshire SG6 4UA2
£425K03/210.86 mi11, Longmead, Letchworth Garden City, Hertfordshire SG6 4HW2
£435K11/200.86 mi3, Longmead, Letchworth Garden City, Hertfordshire SG6 4HW2
£430K06/230.91 mi34, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PN2
£430K06/230.91 mi34, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PN2
£360K12/200.91 mi42, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PN2
£430K02/210.92 mi51, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£475K12/200.92 mi43, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£428K06/210.92 mi45, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£465K02/210.92 mi23, Longmead, Letchworth Garden City, Hertfordshire SG6 4HP2
£380K12/200.94 mi98, Ridge Road, Letchworth Garden City, Hertfordshire SG6 1PT2

Local Rents

16 rents from £565/mo to £1.8K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,25008/240.57 miGlebe Road, Letchworth Garden City2
£1,20011/230.6 mi-2
£1,07008/240.6 mi-2
£1,15008/240.71 mi-2
£1,35008/240.92 mi-2
£1,79503/250.94 mi-2
£1,42503/251.03 mi-2
£1,30012/241.03 miWissen Drive, Letchworth Garden City, SG62
£1,40012/241.04 miPix Road, Letchworth Garden City, SG62
£1,45002/251.11 mi-2
£1,25001/241.13 mi-2
£1,25001/241.13 mi-2
£56502/231.15 mi-2
£58512/241.15 mi-2
£1,05008/241.18 mi-2
£1,07511/231.23 mi-2

Local Area Statistics

Population in SG6

33,166

Population in Letchworth Garden City

33,209

Town centre distance

1.39 miles away

Nearest school

0.20 miles away

Nearest train station

0.98 miles away

 

 

Rental growth (12m)

+12%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £290,000

November 30, 2024

Floor Plans

Description

  • Affordable Price Point – A rare opportunity to purchase for under £350k in this sought-after area +
  • CHAIN FREE - potential quick move! +
  • Requires MODERNISATION - So much potential to create a home with your taste and design. Opportunity to add value! - hence the marketing price +
  • Potential to Reconfigure – Many similar properties have been converted into three bedrooms +
  • Generous Living Room – Front window and French doors create a light and airy space with garden access +
  • Large Kitchen - Plenty of storage, work surfaces and natural light with views of the rear garden +
  • Great-Sized Plot – West-facing rear garden with space for entertaining, storage and more +
  • Just a stones throw from The Greenway - a 13.5 mile circuit for walkers / runners / cyclists to take in the beautiful North Hertfordshire countryside +
  • Just over a mile (25 mins walk) to Letchworth MAINLINE STATION and town centre +
  • Great road links for those commuting by road - just a couple of mile to A1(M) - North and South. 30 minute drive to London Luton Airport +

**Make It Your Own or Flip It – The Choice Is Yours!  **Whether you’re a first-time buyer ready to roll up your sleeves and create a home that’s truly your own, an investor looking to add value and rent or resell, or a family seeking spacious living with potential to grow, this house has something for everyone. This generously sized two-bedroom end-of-terrace home offers a fantastic opportunity to update, improve, and modernise. With a layout that lends itself to reconfiguration (many similar properties have been converted to three bedrooms), this could be the perfect blank canvas for your vision. The original windows and kitchen are ready for a refresh, and the bathroom offers scope for a stylish upgrade. With a little TLC, this could become your dream home or a smart investment. The living room is a great space with plenty of room for a large sofa, armchairs and other furniture. There's an abundance of natural light from the window to the front and French doors to bring the garden into the living space in summer months. The kitchen is also a great size with lots of natural light coming from the large window looking over the rear garden and easy to clean flooring. You may well want to consider updating the cabinets and décor but with plenty of space for storage and work surfaces, you'll never have to worry about clutter or cramped cooking conditions. When it's time to relax and re-charge your batteries there are two DOUBLE bedrooms upstairs - both with carpets so no cold feet on winter mornings. While it may not be the latest in modern design, the bathroom offers the option of a soothing bath at the end of a challenging day and a shower over provides the option of a revitalizing morning shower. Like a lot of 1960's built properties this home has a great sized plot. To the rear there's a great sized garden which, once cleared, will be great for the summer BBQ's or catching the evening sun with a glass of wine. Plenty of space for a shed to store garden tools / furniture.  Within a mile from Norton Common and the beautiful North Hertfordshire countryside, with a short walk to access Letchworth Greenway - ideal for dog owners, walkers, joggers and cyclists alike. A great town, popular with commuters and those looking for a mix of town and country life. From Letchworth mainline station you can be in the centre of London in less than 45 minutes. If you fancy a trip to the seaside you can stay on for just over an hour longer and be in Brighton. For those commuting by road the A1(M) and A10 take you North and South. Great affordable homes like this get snapped up fast! DO NOT miss out - Give the Leysbrook team a call today and book your viewing before someone else buys! | ADDITIONAL INFORMATION Council Tax Band - C EPC Rating - D | GROUND FLOOR Living Room: Approx 18' 5" x 10' 9" MAX (5.61m x 3.28m) Kitchen: Approx 14' 2" x 13' 8" MAX (4.32m x 4.17m)  | FIRST FLOOR Bedroom One: Approx 18' 5" x 10' 8" (5.61m x 3.25m)  Bedroom Two: Approx 12' 6" x 10' 8" (3.81m x 3.25m)  Bathroom: Approx 5' 5" x 4' 7" (1.65m x 1.40m)  Separate Toilet: Approx 4' 5" x 2' 7" (1.35m x 0.79m)  | OUTSIDE West facing rear garden with gated access to the front

Agent Details

Leysbrook, Letchworth

01462 416614

Next Steps?

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