5 Bed HMO, Chelmsford, CM1 2AJ £340,000

Warwick Square, Chelmsford, Essex, CM1 2AJ - 9 views - 10 months ago
Under Offer
HMO
ROI: 7%
~178 m²
Property image
Property image
Property image
Property image
Property image
+1 photos

ValuationUndervalued

Sold Prices£246K - £1.6M
Sold Prices/m²£3.4K/m² - £7.8K/m²

 

 

Square Metres

~178.28 m²
Price/m²£1.9K/m²

Value Estimate

£446,400
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£85,000

Stamp Duty & Legal Fees

£17,500

Total Cash In

£102,500

 

 

Cash Out

 

Room Rate

£582

Gross Rent

£2,910

Running Costs/mo

£2,254

Cashflow/mo

£656

Cashflow/yr

£7,873

ROI

8%

Gross Yield

10%

Local Sold Prices

36 sold prices from £246K to £1.6M, average is £793.5K. £3.4K/m² to £7.8K/m², average is £4.3K/m².

Price
Date
Distance
Address
Beds
 
£602.5K09/210.2 mi8, St Fabians Drive, Chelmsford, Essex CM1 2PR5
£932.9K03/250.21 mi15, St Fabians Drive, Chelmsford CM1 2PR5
£850K06/210.31 mi2b, Fitzwalter Place, Chelmsford, Essex CM1 2LX5
£850K05/230.36 mi2, Highfield Road, Chelmsford, Essex CM1 2NQ5
£1.4M05/250.49 mi32, Chignal Road, Chelmsford CM1 2JB5
£1.4M05/250.49 mi32, Chignal Road, Chelmsford CM1 2JB5
£740K03/230.54 mi93, Chignal Road, Chelmsford, Essex CM1 2JA5
£246K03/230.66 mi21, Nabbott Road, Chelmsford, Essex CM1 2SW5
£980K01/250.99 mi112, Patching Hall Lane, Chelmsford CM1 4DB5
£880K09/211.04 mi218, Chignal Road, Chelmsford, Essex CM1 4SS5
£916.5K10/211.09 mi167, New London Road, Chelmsford, Essex CM2 0AE5
£435K06/231.12 mi20, Cumberland Crescent, Chelmsford, Essex CM1 4AJ5
£675K09/211.18 mi82, Berwick Avenue, Chelmsford, Essex CM1 4BD5
£860K10/211.19 mi5, York Road, Chelmsford, Essex CM2 0AH5
£787K09/211.23 mi112, Moulsham Street, Chelmsford, Essex CM2 0JN5
£690K06/231.3 mi37, Telford Place, Chelmsford, Essex CM1 7QZ5
£930K06/211.3 mi12, Dalrymple Close, Chelmsford, Essex CM1 7RF5
£950K01/231.3 mi16a, Green Close, Chelmsford, Essex CM1 7SL5
£681K09/211.39 mi51, Torquay Road, Chelmsford, Essex CM1 7NX5
£705K06/211.43 mi140, Vicarage Road, Chelmsford, Essex CM2 9BT5
£1.6M01/231.44 miFairfield, Mounthill Avenue, Chelmsford, Essex CM2 6DB5
£800K05/211.45 mi12, Roselawn Fields, Broomfield, Chelmsford, Essex CM1 7GB5
£550K01/251.46 mi25, Sandford Road, Chelmsford CM2 6DE5
£733.5K05/231.46 mi11, Redgates Place, Chelmsford, Essex CM2 6BG5
£837.5K06/251.48 mi23, Redgates Place, Chelmsford CM2 6BG5
£837.5K06/251.48 mi23, Redgates Place, Chelmsford CM2 6BG5
£675K02/251.55 mi100, Bodmin Road, Chelmsford CM1 6LL5
£655K03/251.76 mi5, The Cedars, Chelmsford CM2 6BL5
£850K07/231.78 mi2, The Cedars, Chelmsford, Essex CM2 6BL5
£700K11/221.79 mi12, The Leys, Chelmsford, Essex CM2 6AU5
£771.4K02/231.8 mi113, Ongar Road, Writtle, Chelmsford, Essex CM1 3ND5
£505K08/251.85 mi1, Edward Drive, Chelmsford CM2 9ER5
£630K02/231.88 mi1, Bawden Way, Chelmsford, Essex CM2 9GY5
£800K05/251.93 mi114, Long Brandocks, Writtle, Chelmsford CM1 3JR5
£800K05/251.93 mi114, Long Brandocks, Writtle, Chelmsford CM1 3JR5
£425K05/231.96 mi101, Beardsley Drive, Chelmsford, Essex CM1 6GJ5

Local Area Statistics

Population in CM1

62,615

Population in Chelmsford

174,693

Town centre distance

0.50 miles away

Nearest school

0.10 miles away

Nearest train station

0.65 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-6%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Price changed to £340,000

February 28, 2025

Price changed to £345,000

February 16, 2025

Price changed to £355,000

January 31, 2025

Listed for £360,000

January 13, 2025

Description

  • Buy-to-Let Opportunity +
  • 5 Bedroom HMO +
  • Driveway +
  • Rear Garden Space +
  • Easy Access to Local Amenities +
  • INVESTMENT POTENTIAL DETAILED BELOW (Let Property Pack) +

This is a 5 bedroom HMO in Chelmsford. With valuable amenities in close proximity, rewarding rental returns and a tenant currently situated, this is a fantastic opportunity for investors looking to expand their portfolio!

The well-kept home features 5 bedrooms, three-piece bathroom and wc, lounge, kitchen, driveway and rear garden space.

Investment Details

It currently produces an annual gross income of £34,920 which could be increased by the new owner to a market rate of £36,000 with tenants currently situated. Considering the purchase price, this will make for a worthwhile addition to an investors property portfolio.

For greater detail on this property's investment potential, please see the Let Property Pack linked below.

If you are interested, please call us.

Tenancy Details

The current tenants have lived in the property and consistently paid their rent for the duration of their stay. They do not have any intentions to move out so hope to remain in the property.

Let Property Sales are committed to facilitating a smooth transaction process and to allow for maximum commitment to the sale from both parties, a fully refundable buyers premium may apply to secure a property. This amount is not an additional cost and is refunded in the event of non completion.

Agent Details

Let Property Sales & Management, Glasgow

0141 673 7973

Next Steps?

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