3 Bed Bungalow, Refurb/BRRR, Letchworth Garden City, SG6 3SE, £480,000

The Meads, Letchworth Garden City, SG6 3SE - 4 months ago

Sold STC
Refurb/BRRR
~66 m²
+6 photos

ValuationOvervalued

Sold Prices£290K - £825K
Sold Prices/m²£3.4K/m² - £8.6K/m²

 

 

Square Metres

~66 m²
Price/m²£7.3K/m²

Value Estimate

£285,577

 

 

End Value (After Refurb)

£475,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£120,000

Stamp Duty & Legal Fees

£39,200

Refurb Costs

£31,454

Bridging Loan Interest

£12,600

Total Cash In

£205,004

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£475,000

Mortgage (After Refinance)

£356,250

Mortgage LTV

75%

Cash Left In

£205,004

Equity

£118,750

Rent Range

£1,300 - £2,400

Rent Estimate

£1,621

Running Costs/mo

£1,829

Cashflow/mo

£-208

Cashflow/yr

£-2,491

Gross Yield

4%

Local Sold Prices

50 sold prices from £290K to £825K, average is £472.5K. £3.4K/m² to £8.6K/m², average is £4.5K/m².

PriceDateDistanceAddressBeds 
£575K03/230.01 mi3, The Meads, Letchworth Garden City, Hertfordshire SG6 3SE3
£470K06/210.05 mi35, Station Way, Letchworth Garden City, Hertfordshire SG6 3SD3
£750K06/230.08 mi24, Broadwater Avenue, Letchworth Garden City, Hertfordshire SG6 3HE3
£495K03/210.08 mi16, Broadwater Avenue, Letchworth Garden City, Hertfordshire SG6 3HE3
£290K03/210.09 mi4, Chagny Close, Letchworth Garden City, Hertfordshire SG6 4BY3
£490K03/210.16 mi131, Icknield Way, Letchworth Garden City, Hertfordshire SG6 4AD3
£433K10/200.17 mi170, Icknield Way, Letchworth Garden City, Hertfordshire SG6 4AE3
£475K02/210.23 mi74, Redhoods Way West, Letchworth Garden City, Hertfordshire SG6 4DD3
£475K06/210.23 mi55, Redhoods Way West, Letchworth Garden City, Hertfordshire SG6 4DD3
£425K01/230.24 mi106, Archers Way, Letchworth Garden City, Hertfordshire SG6 4UJ3
£354K09/210.26 mi13, Burnell Rise, Letchworth Garden City, Hertfordshire SG6 3RN3
£490K08/210.27 mi35, Haselfoot, Letchworth Garden City, Hertfordshire SG6 4DE3
£450K04/230.29 mi71, Lindsell Avenue, Letchworth Garden City, Hertfordshire SG6 4DG3
£435K02/210.3 mi71, Lindsell Avenue, Letchworth Garden City, Hertfordshire SG6 4DG3
£520K06/210.3 mi111, Icknield Way, Letchworth Garden City, Hertfordshire SG6 4AR3
£435K03/210.3 mi8, Lindsell Avenue, Letchworth Garden City, Hertfordshire SG6 4DQ3
£360K04/210.3 mi22, Westbury Place, Letchworth Garden City, Hertfordshire SG6 3SS3
£470K03/210.3 mi119, Icknield Way, Letchworth Garden City, Hertfordshire SG6 4AR3
£442.5K05/230.31 mi33, Campers Road, Letchworth Garden City, Hertfordshire SG6 3QT3
£490K03/210.31 mi16, Rowan Crescent, Letchworth Garden City, Hertfordshire SG6 4EY3
£575K05/230.31 mi2, Rowan Crescent, Letchworth Garden City, Hertfordshire SG6 4EY3
£375K12/200.31 mi12, Campers Avenue, Letchworth Garden City, Hertfordshire SG6 3SR3
£465K03/210.32 mi7, Rowan Crescent, Letchworth Garden City, Hertfordshire SG6 4EY3
£722K11/220.32 mi92, Pixmore Way, Letchworth Garden City, Hertfordshire SG6 3TP3
£665K05/230.34 mi28, Souberie Avenue, Letchworth Garden City, Hertfordshire SG6 3JA3
£605K05/210.35 mi83, Spring Road, Letchworth Garden City, Hertfordshire SG6 3SL3
£770.5K11/220.35 mi81, Cowslip Hill, Letchworth Garden City, Hertfordshire SG6 4EX3
£375K03/230.35 mi33, High Avenue, Letchworth Garden City, Hertfordshire SG6 3QS3
£435K01/230.35 mi41, Redhoods Way East, Letchworth Garden City, Hertfordshire SG6 4DF3
£335K02/210.36 mi8, Martin Way, Letchworth Garden City, Hertfordshire SG6 4XU3
£495K03/210.37 mi6, Lytton Avenue, Letchworth Garden City, Hertfordshire SG6 3HT3
£475K03/230.37 mi7, Lytton Avenue, Letchworth Garden City, Hertfordshire SG6 3HT3
£660K06/210.37 mi8, Lytton Avenue, Letchworth Garden City, Hertfordshire SG6 3HT3
£825K11/220.38 mi23, South View, Letchworth Garden City, Hertfordshire SG6 3JJ3
£520K04/210.39 mi20, Redhoods Way East, Letchworth Garden City, Hertfordshire SG6 4DF3
£365K11/220.39 mi28, Abbotts Road, Letchworth Garden City, Hertfordshire SG6 4UR3
£365K05/230.39 mi20, Abbotts Road, Letchworth Garden City, Hertfordshire SG6 4UR3
£516K12/200.4 mi8, Redhoods Way East, Letchworth Garden City, Hertfordshire SG6 4DF3
£370K10/200.4 mi81, High Avenue, Letchworth Garden City, Hertfordshire SG6 3QR3
£615K09/210.41 mi63, Lytton Avenue, Letchworth Garden City, Hertfordshire SG6 3HY3
£635K11/200.41 mi199, Nevells Road, Letchworth Garden City, Hertfordshire SG6 4TZ3
£655K03/210.42 mi18, Field Lane, Letchworth Garden City, Hertfordshire SG6 3LE3
£540K12/220.42 mi107, Pixmore Way, Letchworth Garden City, Hertfordshire SG6 3TR3
£450K01/210.42 mi59, Bedford Road, Letchworth Garden City, Hertfordshire SG6 4DU3
£410K12/200.42 mi94, Bedford Road, Letchworth Garden City, Hertfordshire SG6 4DU3
£601K03/230.43 mi60, Cowslip Hill, Letchworth Garden City, Hertfordshire SG6 4EZ3
£315K11/200.43 mi38, Chiltern View, Letchworth Garden City, Hertfordshire SG6 3RH3
£434K12/200.43 mi44, Station Road, Letchworth Garden City, Hertfordshire SG6 3BE3
£340K02/210.46 mi47, Hillbrow, Letchworth Garden City, Hertfordshire SG6 3RD3
£318K11/210.47 mi103, Bursland, Letchworth Garden City, Hertfordshire SG6 4UY3

Local Rents

15 rents from £1.3K/mo to £2.4K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,60008/240.06 miStation Way, Letchworth Garden City3
£1,40012/240.09 miChagny Close, Letchworth Garden City, SG63
£1,49508/240.3 miCampers Road, Letchworth Garden City, SG63
£1,70003/250.35 mi-3
£2,40012/240.37 miThe Quadrant, Letchworth, Hertfordshire3
£1,55008/240.38 mi-3
£1,45008/240.39 miHillbrow, Letchworth Garden City3
£1,50001/240.42 mi-3
£1,49512/240.43 miStation Road, Letchworth Garden City, SG63
£1,35003/250.44 mi-3
£1,79503/250.45 mi-3
£1,40012/240.5 miWarren Close, Letchworth Garden City, SG63
£1,67512/230.52 mi-3
£1,30008/240.55 miHall Mead, Letchworth Garden City, SG63
£2,20003/230.58 mi-3

Local Area Statistics

Population in SG6

33,166

Population in Letchworth Garden City

33,209

Town centre distance

0.45 miles away

Nearest school

0.40 miles away

Nearest train station

0.34 miles away

 

 

Rental growth (12m)

+12%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £480,000

December 26, 2024

Floor Plans

Description

  • Chain free +
  • Refurbishment opportunity +
  • Close to town and mainline station +
  • Peaceful residential area +
  • Generous garden space +
  • Spacious accommodation +
  • Freehold +
  • EPC rating D. Council tax band D +

A rare opportunity to own a spacious three-bedroom detached bungalow located just a short stroll from the town centre, offering both convenience and tranquillity in a desirable residential area. This property is brimming with potential, featuring a flexible layout that can be tailored to your needs and a generously sized garden, perfect for outdoor activities, gardening, or simply unwinding in your private sanctuary. While the bungalow is in need of refurbishment, it provides an exciting blank canvas for those looking to modernise or redesign to their personal taste. With its single-level living, the home is ideal for families, downsizers, or investors seeking a rewarding renovation project with excellent potential for added value. Set in a peaceful and well-connected neighbourhood, the property combines the benefits of easy access to local shops, schools, transport links, and amenities with the charm of a quiet, established community. This is a fantastic chance to transform a property into your dream home in a prime location. Don’t miss out on this exceptional opportunity!

Agent Details

Satchells Estate Agents, Letchworth

01462 415925

Next Steps?

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