2 Bed Terraced House, Refurb/BRRR, Billericay, CM12 0EA, £350,000

Carpenter Close, Billericay, Essex, CM12 0EA - 2 views - 4 months ago

Refurb/BRRR
ROI: 1%
~68 m²
+1 photos

ValuationFair Value

Sold Prices£130K - £550K
Sold Prices/m²£2K/m² - £8.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£5.1K/m²

Value Estimate

£350,000

 

 

End Value (After Refurb)

£369,276

Uplift in Value

+6%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£33,513

Bridging Loan Interest

£9,188

Total Cash In

£148,651

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£369,276

Mortgage (After Refinance)

£276,957

Mortgage LTV

75%

Cash Released

£14,457

Cash Left In

£134,194

Equity

£92,319

Rent Range

£1,300 - £2,100

Rent Estimate

£1,616

Running Costs/mo

£1,497

Cashflow/mo

£119

Cashflow/yr

£1,426

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £130K to £550K, average is £340K. £2K/m² to £8.2K/m², average is £6K/m².

PriceDateDistanceAddressBeds 
£316K11/200 mi25, Carpenter Close, Billericay, Essex CM12 0EA2
£427K12/220 mi28, Carpenter Close, Billericay, Essex CM12 0EA2
£375K11/210.13 mi48, Perry Street, Billericay, Essex CM12 0NA2
£500K04/210.16 mi5, Ricketts Drive, Billericay, Essex CM12 0HH2
£390K11/200.16 mi14, Ricketts Drive, Billericay, Essex CM12 0HH2
£375K04/230.17 mi4, Warrington Square, Billericay, Essex CM12 0XD2
£370K10/220.17 mi16, Warrington Square, Billericay, Essex CM12 0XD2
£335K11/200.17 mi5, Warrington Square, Billericay, Essex CM12 0XD2
£365K06/210.17 mi16, Magenta Close, Billericay, Essex CM12 0LF2
£398K06/230.17 mi16, Magenta Close, Billericay, Essex CM12 0LF2
£294K10/200.17 mi28, Lancer Way, Billericay, Essex CM12 0XA2
£315K12/200.21 mi3, Leveller Row, Billericay, Essex CM12 0XE2
£365K05/210.22 mi7, Invicta Court, Billericay, Essex CM12 0LR2
£415K09/220.23 mi9, Whitesmith Drive, Billericay, Essex CM12 0FP2
£322.5K09/210.23 mi59, Whitesmith Drive, Billericay, Essex CM12 0FP2
£340K05/210.23 mi30, Whitesmith Drive, Billericay, Essex CM12 0FP2
£385K04/230.23 mi30, Whitesmith Drive, Billericay, Essex CM12 0FP2
£330K04/210.23 mi31, Whitesmith Drive, Billericay, Essex CM12 0FP2
£320K06/210.23 mi4, Whitesmith Drive, Billericay, Essex CM12 0FP2
£340K02/210.23 mi35, Whitesmith Drive, Billericay, Essex CM12 0FP2
£303K10/200.23 mi53, Whitesmith Drive, Billericay, Essex CM12 0FP2
£344.5K03/230.23 mi61, Whitesmith Drive, Billericay, Essex CM12 0FP2
£385K09/220.24 mi71, Whitesmith Drive, Billericay, Essex CM12 0FP2
£357.5K03/230.26 mi11, Langley Place, Billericay, Essex CM12 0FR2
£325K11/200.27 mi31, Langley Place, Billericay, Essex CM12 0FR2
£342.5K03/210.27 mi33, Langley Place, Billericay, Essex CM12 0FR2
£326K07/210.27 mi25, Langley Place, Billericay, Essex CM12 0FR2
£246.4K06/210.27 mi24, Cornflower Gardens, Billericay, Essex CM12 0TQ2
£340K06/230.27 mi14, Cornflower Gardens, Billericay, Essex CM12 0TQ2
£400K04/210.28 mi58, Brightside, Billericay, Essex CM12 0LE2
£360K04/230.3 mi8, The Foxgloves, Billericay, Essex CM12 0TE2
£312K06/210.3 mi10, The Foxgloves, Billericay, Essex CM12 0TE2
£335K12/220.32 mi40, The Foxgloves, Billericay, Essex CM12 0TE2
£285K04/230.32 mi2, Rosebay Avenue, Billericay, Essex CM12 0SY2
£130K02/210.33 mi1, Allysum Walk, Billericay, Essex CM12 0SS2
£365K11/220.33 mi3, Allysum Walk, Billericay, Essex CM12 0SS2
£350K02/230.34 mi40, Harebell Close, Billericay, Essex CM12 0TB2
£315K06/210.34 mi32, Harebell Close, Billericay, Essex CM12 0TB2
£330K11/220.34 mi27, Harebell Close, Billericay, Essex CM12 0TB2
£300K06/230.34 mi6, Buttercup Close, Billericay, Essex CM12 0SX2
£275K03/230.35 mi8, Allysum Walk, Billericay, Essex CM12 0SR2
£550K04/210.36 mi34, West Park Avenue, Billericay, Essex CM12 9EF2
£307.5K02/210.39 mi19, Dolphin Gardens, Billericay, Essex CM12 0XH2
£307K12/200.4 mi19, Montpelier Close, Billericay, Essex CM12 0UH2
£395K07/230.43 mi22, York Road, Billericay, Essex CM12 0XG2
£315K02/230.44 mi16, York Road, Billericay, Essex CM12 0XG2
£340K08/220.53 mi52, Connaught Way, Billericay, Essex CM12 0UN2
£290K11/200.53 mi38, Connaught Way, Billericay, Essex CM12 0UN2
£345K06/210.56 mi10, Rutherford Close, Billericay, Essex CM12 0YR2
£370K12/200.56 mi3, Rutherford Close, Billericay, Essex CM12 0YR2

Local Rents

14 rents from £1.3K/mo to £2.1K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,40012/240 mi-2
£1,45003/250 mi-2
£1,40012/240.2 miLeveller Row, Billericay2
£1,47012/240.26 mi-2
£1,40012/240.28 miThe Foxgloves, CM122
£1,60001/250.32 mi-2
£1,95012/240.33 miPark View, 30 Radford Way, CM122
£2,10012/240.36 miPark View, 30 Radford Way, CM122
£2,05012/240.36 miPark View, 30 Radford Way, CM122
£1,45012/240.43 mi-2
£1,66512/240.49 mi-2
£1,45012/240.57 miRadford Court, Billericay, Essex, CM122
£1,45212/240.57 miBerkeley Drive, BILLERICAY, Essex, CM122
£1,30003/250.57 mi-2

Local Area Statistics

Population in CM12

20,042

Population in Billericay

39,325

Town centre distance

1.65 miles away

Nearest school

0.30 miles away

Nearest train station

0.59 miles away

 

 

Rental growth (12m)

-13%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £350,000

December 11, 2024

Sold for £208,000

2011

Sold for £79,000

1998

Floor Plans

Description

Situated on the highly sought-after Mayflower Park development, this two-bedroom mid-terrace house offers a fantastic opportunity for those looking to add their personal touch and modernise a property in a prime location just a 14 minute walk mile from Billericay Mainline Railway Station.

With its 48ft south-east facing garden, two parking bays directly opposite, and the added benefit of a modern Worcester Greenstar combination boiler, this home is brimming with potential for the right buyer.

The property is ideally positioned just 0.7 miles of Billericay Railway Station, making it perfect for commuters, offering quick and easy access into London.

For those who enjoy the outdoors, Lake Meadow Park is just a short stroll away, local shops are 'just around the corner' and Billericay High Street is only 0.8 mile, offering an excellent range of independent shops, cafés and restaurants, bars and pubs and the central Waitrose Store.

Whilst the house does require modernisation, its layout and potential make it an exciting project for those with an eye for design. The property's proximity to local amenities, transport links, and green spaces makes it a great prospect for first-time buyers, Investors or those looking to downsize in a sought after area.

The Accommodation

HALL

With doors off to the Kitchen and Lounge/Diner and stairs ahead rising to the 1st floor.

LOUNGE 12ft 6" (3.81m) x 12ft 6" (3.81m)

Perfectly square, this rear lounge has a set of patio doors opening out to the garden.

Note, we understand from the Vendor that the stain on the ceiling was caused by a previous bath leak - this now all sorted.

KITCHEN 9ft 5" (2.87m) x 5ft 3" (1.60m)

Dated but functional kitchen units incorporate a built-in Gas Hob with Oven below and recesses for a freestanding fridge/freezer and washing machine.

In the corner is the Worcester Greenstar 25i ErP combination boiler.

Stairs from Hall to:

1st FLOOR LANDING

With the original boiler replaced with a combination boiler, there is now no hot water cylinder in the airing cupboard, freeing it up to be used as pure storage facility with a nice touch in that a small radiator has been added to enable it to continue its use as an 'airing' cupboard.

MASTER BEDROOM 12ft 6" (3.81m) narrowing to 9ft 3" (2.82m) x 9ft 10" (3.00m)

A front-facing bedroom with two windows for maximum light and with the measurements incorporating a built-in double wardrobe.

BEDROOM TWO 12ft 3" (3.73m) x 6ft 4" (1.93m)

A quiet rear-facing bedroom.

BATHROOM 5ft 9" (1.75m) x 5ft 10" (1.78m)

Fitted with a modern white suite with a shower over the bath, a side-facing window providing natural light.

GARDEN

South-east facing with a shed at the end.

FRONT GARDEN

With a central path up to the front door.

Built-in full-height cupboard by the front door provides bin storage et cetera.

PARKING BAYS

Directly opposite is the parking for this row of houses, with this property having two of the six spaces.

Agent Details

Henton Kirkman Residential, Billericay

01277 674669

Next Steps?

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