2 Bed Terraced House, Refurb/BRRR, Chatham, ME4 5HT, £165,000

64 Watling Street, Gillingham, Kent, ME7 2YN - 10 views - 3 months ago

Sold STC
Refurb/BRRR
ROI: 4%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£140K - £240K
Sold Prices/m²£1.7K/m² - £5.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.4K/m²

Value Estimate

£177,500

 

 

End Value (After Refurb)

£202,587

Uplift in Value

+14%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£6,525

Refurb Costs

£33,396

Bridging Loan Interest

£4,331

Total Cash In

£87,253

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£202,587

Mortgage (After Refinance)

£151,940

Mortgage LTV

75%

Cash Released

£28,190

Cash Left In

£59,063

Equity

£50,647

Rent Range

£800 - £2,050

Rent Estimate

£1,229

Running Costs/mo

£899

Cashflow/mo

£330

Cashflow/yr

£3,961

ROI

5%

Gross Yield

9%

Local Sold Prices

51 sold prices from £140K to £240K, average is £190K. £1.7K/m² to £5.3K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£200K05/210.03 mi13, Cobden Road, Chatham, Medway ME4 5HW2
£225K10/230.03 mi25, Cobden Road, Chatham, Medway ME4 5HW2
£205K01/240.03 mi29, Cobden Road, Chatham, Medway ME4 5HW2
£140K03/240.04 mi10, Victoria Road, Chatham, Medway ME4 5EY2
£140K03/240.04 mi10, Victoria Road, Chatham, Medway ME4 5EY2
£240K05/230.05 mi25, Grove Road, Chatham, Medway ME4 5HS2
£155K06/210.08 mi79, Castle Road, Chatham, Medway ME4 5HX2
£167K09/210.08 mi84, Castle Road, Chatham, Medway ME4 5HX2
£225K12/220.08 mi92, Castle Road, Chatham, Medway ME4 5HX2
£230K05/230.09 mi82, Victoria Road, Chatham, Medway ME4 5EU2
£210K10/230.1 mi7, Castle Road, Chatham, Medway ME4 5HG2
£218.5K06/230.11 mi22, Dagmar Road, Chatham, Medway ME4 5HB2
£218K02/240.12 mi19, Alfred Close, Chatham, Medway ME4 5EE2
£181.5K10/200.13 mi14, Alfred Close, Chatham, Medway ME4 5EE2
£212.5K04/230.13 mi160, Castle Road, Chatham, Medway ME4 5HY2
£180K02/240.13 mi116, Castle Road, Chatham, Medway ME4 5HY2
£181K05/210.13 mi53, Gordon Road, Chatham, Medway ME4 5LU2
£205K10/210.13 mi71, Gordon Road, Chatham, Medway ME4 5LU2
£180K01/210.14 mi271, Luton Road, Chatham, Kent ME4 5BN2
£160K02/210.14 mi2, Portland Street, Chatham, Medway ME4 5LS2
£175K02/210.18 mi101, Gordon Road, Chatham, Medway ME4 5LX2
£227.5K06/210.18 mi149, Gordon Road, Chatham, Medway ME4 5LX2
£157K11/200.18 mi83, Connaught Road, Chatham, Medway ME4 5DH2
£230K01/230.19 mi64, Connaught Road, Chatham, Medway ME4 5DH2
£160K11/200.2 mi171, Castle Road, Chatham, Medway ME4 5HZ2
£216K06/230.2 mi224, Castle Road, Chatham, Medway ME4 5HZ2
£178K01/210.22 mi26, Grange Hill, Chatham, Medway ME5 7AH2
£175K03/210.22 mi17, Grange Hill, Chatham, Medway ME5 7AH2
£212.5K01/230.22 mi4, Edward Street, Chatham, Medway ME4 5NH2
£190K05/210.24 mi112, Thorold Road, Chatham, Medway ME5 7DS2
£165K04/230.24 mi101, Thorold Road, Chatham, Medway ME5 7DS2
£165K03/210.24 mi359, Luton Road, Chatham, Medway ME4 5BJ2
£170K01/210.25 mi6, Edinburgh Road, Chatham, Kent ME4 5BY2
£167K12/200.26 mi6, East Street, Chatham, Medway ME4 5NJ2
£160.5K11/200.27 mi54, Seymour Road, Chatham, Medway ME5 7AE2
£197.5K05/210.28 mi23, Upper Luton Road, Chatham, Medway ME5 7BH2
£214.4K01/230.32 mi59, St Johns Road, Gillingham, Medway ME7 5QE2
£170K09/210.32 mi9, Thorold Road, Chatham, Medway ME5 7EA2
£198K11/230.32 mi33, First Avenue, Chatham, Medway ME4 5AT2
£230K12/220.32 mi13, Salisbury Road, Chatham, Medway ME4 5NW2
£190K10/210.33 mi7, Salisbury Road, Chatham, Medway ME4 5NW2
£165K01/210.33 mi401, Luton Road, Chatham, Medway ME4 5BH2
£153K06/210.33 mi405, Luton Road, Chatham, Medway ME4 5BH2
£203K10/200.33 mi59, Symons Avenue, Chatham, Medway ME4 5UH2
£170K04/210.33 mi71, Symons Avenue, Chatham, Medway ME4 5UH2
£195K05/210.33 mi88, Glencoe Road, Chatham, Medway ME4 5QG2
£220K03/230.36 mi44, Haig Avenue, Chatham, Medway ME4 5UE2
£181K03/210.36 mi20, Brisbane Road, Chatham, Medway ME4 5PE2
£195K11/230.36 mi56, Lester Road, Chatham, Medway ME4 5NP2
£165K04/210.37 mi60, Glencoe Road, Chatham, Medway ME4 5QE2
£217.6K09/220.37 miHomeside, Albert Road, Chatham, Medway ME4 5PZ2

Local Rents

52 rents from £800/mo to £2K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,25002/250.02 mi-2
£1,10005/240.04 miVictoria Road, Chatham2
£1,20008/240.07 mi-2
£1,45007/240.08 mi-2
£1,45007/240.08 miCastle Road, Chatham, ME42
£1,10001/240.09 mi-2
£1,20006/240.11 miGordon Road, Chatham2
£1,15006/240.11 miGordon Road, Chatham2
£1,30008/240.11 miGordon Road Chatham ME42
£2,05004/240.11 mi-2
£1,05005/240.12 miLuton Road, Chatham2
£1,15007/240.13 miGordon Road, CHATHAM2
£1,35005/240.15 mi-2
£1,40006/240.15 mi-2
£1,15007/240.16 miConstitution Road, Chatham, ME52
£1,15007/240.16 miConstitution Road, Chatham, ME52
£1,15008/240.16 mi-2
£1,35003/250.17 mi-2
£1,20005/240.18 miThorold Road, Chatham, Kent, ME52
£1,30002/250.2 mi-2
£1,40003/250.21 mi-2
£1,05006/240.22 mi-2
£1,05006/240.22 mi-2
£1,05006/240.22 mi-2
£1,30006/240.24 miEdinburgh Road, Chatham, Kent, ME42
£1,15012/240.25 mi-2
£1,20007/240.28 mi-2
£95008/240.28 mi-2
£1,20002/250.28 mi-2
£1,15007/240.28 miMary Court, Chatham, ME5 2
£1,45005/240.28 mi-2
£1,25006/240.3 miImperial Road, Gillingham2
£1,25007/240.32 miGlencoe Road, Chatham, Kent, ME42
£1,20005/240.33 miChatham Hill, Chatham, Kent, ME52
£1,15005/240.33 mi-2
£1,35007/240.33 miErnest Road, Chatham, Kent, ME42
£1,40005/240.34 miChatham, ME42
£80008/240.34 miSturla Road, Chatham2
£1,20005/240.34 miUpper Luton Road, Chatham, Kent, ME52
£1,20006/240.34 miUpper Luton Road, Chatham, Kent, ME52
£1,25007/240.34 mi-2
£1,25006/240.34 miChatham Hill, Chatham, ME52
£1,25007/240.34 miChatham Hill, Chatham, ME52
£1,15007/240.34 miUpper Luton Road, Chatham, Kent, ME52
£1,10005/240.35 miChatham Hill, Chatham2
£1,39505/240.38 mi-2
£1,25007/240.39 mi-2
£1,30003/250.39 mi-2
£1,30003/250.4 mi-2
£1,20004/250.4 mi-2
£1,30012/240.4 mi-2
£1,04908/240.43 mi-2

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

0.56 miles away

Nearest school

0.30 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £165,000

March 8, 2025

Price changed to £175,000

February 8, 2025

Listed for £177,500

January 9, 2025

Description

  • Two Bedroom +
  • No Chain +
  • Refurbishment required +
  • Ideal investment/first time purchase +

This two bedroom terraced house is situated within easy reach of Chatham mainline railway station for fast commuter services into London and high speed links to St Pancras/Kings Cross and the busy high street where you will find an array of shops, bars, pubs, cafes, restaurants etc. Offered for sale with NO CHAIN this property now requires modernisation and updating. An excellent investment opportunity or first time buy. Once through the front door you will find a living room, dining room, kitchen and utility room on the ground floor. Upstairs are two bedrooms and a bathroom/W.C. Outside there is a garden to the rear. Contact the sales team at Wright & Co for book your appointment to view!

Entrance Door To:- -

Entrance Hall - Stair case to first floor, radiator

Lounge - 3.5 x 2.75 (11'5" x 9'0") - Double glazed bay window to front, double radiator

Dining Room - 3.7 x 3.6 (12'1" x 11'9") - Window to rear, double radiator

Kitchen - 3 x 2 (9'10" x 6'6") - Window to side, base and eye level cupboard and drawer units with worktops, inset single drainer stainless steel sink unit, built in oven/hob (not tested), door to:-

Utility Room - 2.3 x 1.5 (7'6" x 4'11") - Half double glazed door to garden, wall mounted gas fired boiler for domestic hot water supply and central heating (not tested)

First Floor Landing - Access to roof space, doors to:-

Bedroom One - 3.7 x 3 (12'1" x 9'10") - Two double glazed windows to front, double radiator

Bedroom Two - 3.65 x 2.3 (11'11" x 7'6") - Double glazed window to rear, double radiator

Bathroom - 3 x 2 (9'10" x 6'6") - Double glazed window to rear, white suite with panelled bath and mixer taps, pedestal wash hand basin, low level W.C, tiled walls, heated towel rail

Exterior Rear - Overgrown garden

Agent Details

Wright & Co, Gillingham

01634 563369

Next Steps?

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