2 Bed Bungalow, Refurb/BRRR, Derby, DE73 6XD, £210,000

Lockington Close, Chellaston, DE73 6XD - 2 views - 2 months ago

Refurb/BRRR
ROI: 1%
~68 m²
+5 photos

ValuationOvervalued

Sold Prices£115K - £325K
Sold Prices/m²£2K/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.1K/m²

Value Estimate

£173,930

 

 

End Value (After Refurb)

£168,994

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£52,500

Stamp Duty & Legal Fees

£7,500

Refurb Costs

£26,710

Bridging Loan Interest

£5,513

Total Cash In

£93,973

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£168,994

Mortgage (After Refinance)

£126,746

Mortgage LTV

75%

Cash Left In

£93,973

Equity

£42,249

Rent Range

£725 - £875

Rent Estimate

£822

Running Costs/mo

£713

Cashflow/mo

£109

Cashflow/yr

£1,314

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £115K to £325K, average is £167.5K. £2K/m² to £3.8K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£193K11/230.02 mi36, Lockington Close, Chellaston, Derby, City Of Derby DE73 6XD2
£158K01/210.02 mi20, Lockington Close, Chellaston, Derby, City Of Derby DE73 6XD2
£190K06/230.02 mi28, Lockington Close, Chellaston, Derby, City Of Derby DE73 6XD2
£115K12/200.06 mi10, Maple Drive, Chellaston, Derby, City Of Derby DE73 6RD2
£138K03/210.1 mi9, Newbold Close, Chellaston, Derby, City Of Derby DE73 6RY2
£260K09/210.11 mi4, Birchfield Close, Chellaston, Derby, City Of Derby DE73 6SS2
£160K01/210.17 mi8, Middlebeck Close, Chellaston, Derby, City Of Derby DE73 5QN2
£155K08/230.17 mi1, Simcoe Leys, Chellaston, Derby, City Of Derby DE73 6XL2
£181.5K04/230.17 mi66, Simcoe Leys, Chellaston, Derby, City Of Derby DE73 6XL2
£180K09/230.17 mi52, Simcoe Leys, Chellaston, Derby, City Of Derby DE73 6XL2
£157K09/230.18 mi1, Lincoln Green, Chellaston, Derby, City Of Derby DE73 5QP2
£235K04/210.19 mi4, Penhaligans Close, Chellaston, Derby, City Of Derby DE73 5QG2
£140K10/200.19 mi2, Langsett Drive, Chellaston, Derby, City Of Derby DE73 6XG2
£185K07/230.22 mi47, Hollymoor Drive, Chellaston, Derby, City Of Derby DE73 5QF2
£140K10/200.22 mi52, Hollymoor Drive, Chellaston, Derby, City Of Derby DE73 5QF2
£148K04/210.24 mi22, Mill Moor Close, Chellaston, Derby, City Of Derby DE73 5QL2
£141K08/230.26 mi130, Parkway, Chellaston, Derby, City Of Derby DE73 5QA2
£315K01/230.29 mi3, Edge Hill, Chellaston, Derby, City Of Derby DE73 6RP2
£174.9K01/230.29 mi30, Alonso Close, Chellaston, Derby, City Of Derby DE73 5AX2
£155K10/200.29 mi56, Alonso Close, Chellaston, Derby, City Of Derby DE73 5AX2
£157K05/210.29 mi28, Alonso Close, Chellaston, Derby, City Of Derby DE73 5AX2
£140K04/210.29 mi90, High Street, Chellaston, Derby, City Of Derby DE73 6TG2
£315K10/220.3 mi29, Chapel Lane, Chellaston, Derby, City Of Derby DE73 6TJ2
£125K04/210.3 mi7, Small Meer Close, Chellaston, Derby, City Of Derby DE73 5QQ2
£125K08/210.3 mi19, Small Meer Close, Chellaston, Derby, City Of Derby DE73 5QQ2
£155K08/220.3 mi15, Thurstone Furlong, Chellaston, Derby, City Of Derby DE73 5PZ2
£139.9K10/200.31 mi33, Thurstone Furlong, Chellaston, Derby, City Of Derby DE73 5PZ2
£170K09/230.31 mi17, Thurstone Furlong, Chellaston, Derby, City Of Derby DE73 5PZ2
£215K12/210.31 mi27, Green Avenue, Chellaston, Derby, City Of Derby DE73 6TE2
£325K08/210.32 mi19, Station Road, Chellaston, Derby, City Of Derby DE73 5SU2
£150K12/200.33 mi17, Davids Close, Chellaston, Derby, City Of Derby DE73 5SY2
£167.5K11/200.34 mi71, Fellow Lands Way, Chellaston, Derby, City Of Derby DE73 6SW2
£244K07/230.35 mi3, Groves Nook, Chellaston, Derby, City Of Derby DE73 5QH2
£155K12/200.35 mi7, Groves Nook, Chellaston, Derby, City Of Derby DE73 5QH2
£160.5K11/200.35 mi6, Groves Nook, Chellaston, Derby, City Of Derby DE73 5QH2
£165K09/210.35 mi5, Groves Nook, Chellaston, Derby, City Of Derby DE73 5QH2
£167.5K11/200.35 mi71, Fellow Lands Way, Chellaston, Derby, City Of Derby DE73 6SW2
£172K10/220.35 mi4, Leys Field Gardens, Chellaston, Derby, City Of Derby DE73 6PL2
£174K08/220.35 mi15, Falstaff Court, Chellaston, Derby, City Of Derby DE73 5BA2
£260K09/220.36 mi210, Derby Road, Chellaston, Derby, City Of Derby DE73 6RQ2
£195K08/230.38 mi8, Station Close, Chellaston, Derby, City Of Derby DE73 5SZ2
£150K09/220.39 mi5, Montague Way, Chellaston, Derby, City Of Derby DE73 5AS2
£158K02/210.4 mi20, Leveret Close, Chellaston, Derby, City Of Derby DE73 6PQ2
£200K09/220.4 mi3, Leveret Close, Chellaston, Derby, City Of Derby DE73 6PQ2
£220K09/210.44 mi21, Woodminton Drive, Chellaston, Derby, City Of Derby DE73 6RZ2
£179.5K11/220.45 mi10, Rose Close, Chellaston, Derby, City Of Derby DE73 5XP2
£158K05/210.46 mi12, Rose Close, Chellaston, Derby, City Of Derby DE73 5XP2
£174K11/220.46 mi14, Rose Close, Chellaston, Derby, City Of Derby DE73 5XP2
£207.5K02/210.48 mi5, Chestnut Avenue, Chellaston, Derby, City Of Derby DE73 6RW2
£215K02/230.48 mi9, Chestnut Avenue, Chellaston, Derby, City Of Derby DE73 6RW2

Local Rents

10 rents from £725/mo to £875/mo, average is £838/mo.

RentDateDistanceAddressBeds 
£80003/240.02 miLockington Close, Chellaston2
£85003/240.17 miSimcoe Leys, Chellaston, Derby2
£82503/240.17 miSimcoe Leys, Chellaston2
£85003/240.21 miGreen Avenue, Chellaston, Derby, DE73 6TE2
£85012/240.23 mi-2
£85002/250.28 mi-2
£79504/240.29 miAlonso Close, Chellaston2
£79503/240.31 miThurstone Furlong, Chellaston2
£72503/240.39 miPrestwick Way, Chellaston, Derby, DE732
£87503/240.46 miRose Close, Chellaston, Derby, Derbyshire, DE73 5XP2

Local Area Statistics

Population in DE73

19,040

Population in Derby

308,324

Town centre distance

3.35 miles away

Nearest school

0.10 miles away

Nearest train station

2.31 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+20%

Sales demand

Seller's market

Capital growth (5yrs)

+24%

Property History

Listed for £210,000

January 27, 2025

Floor Plans

Description

  • Two-Bedroom, Semi-Detached Bungalow Of Standard Construction +
  • EPC Rating D +
  • Council Tax Band B +
  • Detached Garage & Driveway Parking +
  • No Onward Chain +
  • Freehold +
  • Would Benefit From Some Light Renovation +
  • Convenient For Excellent Local Amenities +
  • Pleasant Cul-de-Sac Location +

PREMIER PROPERTY NO ONWARD CHAIN Situated close to the heart of Chellaston on a pleasant cul-de-sac, this two-bedroom, semi-detached bungalow is perfect for a first time buyer or those looking to downsize. The property benefits from uPVC double glazing, gas central heating by way of a combination boiler, off road parking and a good size detached garage!

The accommodation briefly comprises: Entrance hallway with storage cupboard housing the combination boiler; spacious lounge/diner; fitted kitchen; inner hall (with storage cupboard) leading to two bedrooms (a well proportioned double bedroom and good size single bedroom, which has twin French doors opening out onto the rear elevation); fitted shower room.

Outside, to the front of the property is a low maintenance forecourt providing ample off road parking and gated access to the rear garden, with lawn, patio seating area, detached garage and fence boundaries.

Lockington Close is conveniently situated for local amenities and well-regarded schools together with good road links with the A50, A52, access for East Midlands Airport and the M1 motorway.

This property would benefit from some light renovation and internal viewings are highly recommended to fully appreciate the size of the accommodation and the location of the property on offer.

Agent Details

Hannells Estate Agents, Chellaston

01332 215260

Next Steps?

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