2 Bed Terraced House, Refurb/BRRR, Chatham, ME4 5PQ, £145,000

Cromwell Terrace, Chatham, Kent, ME4 5PQ - 11 views - 2 months ago

Auction
Refurb/BRRR
ROI: 6%
~68 m²
+7 photos

ValuationFair Value

Sold Prices£132.5K - £307.5K
Sold Prices/m²£1.8K/m² - £5.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£147,900

 

 

End Value (After Refurb)

£190,880

Uplift in Value

+32%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£36,250

Stamp Duty & Legal Fees

£5,550

Refurb Costs

£33,396

Bridging Loan Interest

£3,806

Total Cash In

£80,753

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£190,880

Mortgage (After Refinance)

£143,160

Mortgage LTV

75%

Cash Released

£34,410

Cash Left In

£46,342

Equity

£47,720

Rent Range

£800 - £2,050

Rent Estimate

£1,273

Running Costs/mo

£871

Cashflow/mo

£402

Cashflow/yr

£4,823

ROI

6%

Gross Yield

11%

Local Sold Prices

50 sold prices from £132.5K to £307.5K, average is £192K. £1.8K/m² to £5.3K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£190K01/210.02 mi21, Herbert Road, Chatham, Medway ME4 5PN2
£166K03/210.02 mi7, Herbert Road, Chatham, Medway ME4 5PN2
£160K03/210.05 mi3, Hartington Street, Chatham, Medway ME4 5PH2
£160K09/210.05 mi16, Leopold Road, Chatham, Medway ME4 5SX2
£160K11/200.06 mi62, Hartington Street, Chatham, Medway ME4 5PJ2
£270K04/230.06 mi12, Chalkpit Hill, Chatham, Medway ME4 5TA2
£205K09/210.08 mi12, Cromwell Terrace, Chatham, Medway ME4 5PQ2
£215K08/230.08 mi31, Cromwell Terrace, Chatham, Medway ME4 5PQ2
£205K10/230.08 mi22, Otway Street, Chatham, Medway ME4 5PG2
£160K02/210.08 mi22, Otway Street, Chatham, Kent ME4 5PG2
£238K10/210.09 miHolmside, Chalkpit Hill, Chatham, Medway ME4 5SU2
£181K03/210.09 mi20, Brisbane Road, Chatham, Medway ME4 5PE2
£156.5K02/210.1 mi5, Herman Terrace, Chatham, Medway ME4 5NX2
£194K12/230.11 mi18, Ernest Road, Chatham, Medway ME4 5PT2
£165K03/210.11 mi18, Ernest Road, Chatham, Medway ME4 5PT2
£190K11/230.14 mi40, Jenkins Dale, Chatham, Medway ME4 5RB2
£217.6K09/220.14 miHomeside, Albert Road, Chatham, Medway ME4 5PZ2
£200K11/230.14 mi4, Natal Road, Chatham, Medway ME4 5PS2
£215K12/220.16 mi15, Glencoe Road, Chatham, Medway ME4 5QB2
£190K06/210.18 mi64, Mount Road, Chatham, Medway ME4 5RP2
£200K12/200.18 mi46, Mount Road, Chatham, Medway ME4 5RP2
£190K10/210.19 mi7, Salisbury Road, Chatham, Medway ME4 5NW2
£230K12/220.2 mi13, Salisbury Road, Chatham, Medway ME4 5NW2
£167K12/200.2 mi6, East Street, Chatham, Medway ME4 5NJ2
£200K01/230.21 mi8, Southill Road, Chatham, Medway ME4 5SA2
£215K04/230.21 mi24, Southill Road, Chatham, Medway ME4 5SA2
£165K04/210.21 mi60, Glencoe Road, Chatham, Medway ME4 5QE2
£195K11/230.21 mi56, Lester Road, Chatham, Medway ME4 5NP2
£208K11/210.21 mi114, Mount Road, Chatham, Medway ME4 5RR2
£212.5K01/230.24 mi4, Edward Street, Chatham, Medway ME4 5NH2
£195K05/210.24 mi88, Glencoe Road, Chatham, Medway ME4 5QG2
£229K07/230.25 mi86, Charter Street, Chatham, Medway ME4 5RZ2
£190K06/210.26 mi106, Holcombe Road, Chatham, Kent ME4 5RX2
£307.5K06/230.26 mi98, Port Rise, Chatham, Medway ME4 6QA2
£188K02/210.29 mi23, Ingle Road, Chatham, Medway ME4 5SD2
£132.5K10/200.31 mi107, Charter Street, Chatham, Medway ME4 5RY2
£160K02/210.31 mi2, Portland Street, Chatham, Medway ME4 5LS2
£170K04/210.32 mi71, Symons Avenue, Chatham, Medway ME4 5UH2
£203K10/200.32 mi59, Symons Avenue, Chatham, Medway ME4 5UH2
£205K10/210.33 mi71, Gordon Road, Chatham, Medway ME4 5LU2
£181K05/210.33 mi53, Gordon Road, Chatham, Medway ME4 5LU2
£170K09/210.34 mi9, Thorold Road, Chatham, Medway ME5 7EA2
£175K02/210.34 mi101, Gordon Road, Chatham, Medway ME4 5LX2
£227.5K06/210.34 mi149, Gordon Road, Chatham, Medway ME4 5LX2
£247K01/230.35 mi14, Scotts Terrace, Chatham, Medway ME4 6QF2
£185K10/200.35 mi10, Scotts Terrace, Chatham, Medway ME4 6QF2
£220K03/230.37 mi44, Haig Avenue, Chatham, Medway ME4 5UE2
£167K09/210.38 mi84, Castle Road, Chatham, Medway ME4 5HX2
£225K12/220.38 mi92, Castle Road, Chatham, Medway ME4 5HX2
£155K06/210.38 mi79, Castle Road, Chatham, Medway ME4 5HX2

Local Rents

50 rents from £800/mo to £2K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,30003/250.07 mi-2
£1,20004/250.07 mi-2
£1,30003/250.08 mi-2
£1,25007/240.08 mi-2
£1,04908/240.11 mi-2
£1,35007/240.14 miErnest Road, Chatham, Kent, ME42
£80008/240.14 miSturla Road, Chatham2
£1,08507/240.15 mi-2
£1,08506/240.15 miWellington Court, Chatham, ME42
£1,20002/250.16 mi-2
£1,35012/240.17 mi-2
£1,15007/240.2 miMary Court, Chatham, ME5 2
£95008/240.2 mi-2
£1,20007/240.2 mi-2
£1,20002/250.2 mi-2
£1,15005/240.2 mi-2
£1,15012/240.21 mi-2
£1,25007/240.23 miPort Rise, Chatham2
£1,25007/240.23 miGlencoe Road, Chatham, Kent, ME42
£1,30002/250.27 mi-2
£1,20005/240.28 miMaidstone Road, Chatham2
£1,15005/240.28 miMary Court, Chatham, Kent, ME42
£1,45008/240.28 miChatham Waters, South House, Gillingham Gate Road, Gillingham, ME42
£1,40005/240.28 miChatham, ME42
£1,30003/250.31 mi-2
£1,35003/250.32 mi-2
£1,25007/240.33 miNew Road, Chatham, Kent, ME42
£1,15007/240.33 miGordon Road, CHATHAM2
£1,30007/240.34 miNew Road, Chatham2
£1,10005/240.34 mi-2
£2,05004/240.34 mi-2
£1,30008/240.34 miGordon Road Chatham ME42
£1,39505/240.34 mi-2
£1,20006/240.34 miGordon Road, Chatham2
£1,15006/240.34 miGordon Road, Chatham2
£1,35005/240.35 mi55 Cross Street Chatham ME42
£1,45007/240.38 miCastle Road, Chatham, ME42
£1,45007/240.38 mi-2
£1,25002/250.4 mi-2
£1,40006/240.43 mi-2
£1,35005/240.43 mi-2
£1,45005/240.44 mi-2
£1,29506/240.44 mi-2
£1,20005/240.44 miThorold Road, Chatham, Kent, ME52
£1,10005/240.45 miVictoria Road, Chatham2
£1,10001/240.46 mi-2
£1,15006/240.46 mi-2
£1,15006/240.46 miTop Purbeck Road, Chatham, ME42
£1,19504/250.46 mi-2
£1,25002/250.47 mi-2

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

0.57 miles away

Nearest school

0.20 miles away

Nearest train station

0.43 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £145,000

January 29, 2025

Description

  • Being Sold via Secure Sale Online Bidding, Terms & Conditions Apply +
  • Separate lounge and large kitchen +
  • Immediate exchange of contracts available +
  • Close to schools and transport links +
  • Garden +

Pattinson are pleased to offer this 2-bedroom semi-detached property is perfect for a couple, a young family, or a buy-to-let investor looking to expand their portfolio.

The ground floor boasts a separate lounge and a great-sized kitchen, offering plenty of space for daily living.

There is also a family bathroom conveniently located on this level.

Upstairs, you'll find two generously sized double bedrooms, providing ample space and comfort.

While the property is in need of modernisation, mainly cosmetic, it offers excellent potential to create a home tailored to your tastes.

The cosy garden at the rear provides a peaceful outdoor space to relax or entertain.

Situated in a good location, this home is within walking distance of the town centre and railway station, with excellent access to local schools and major road and rail links.

Whether you're searching for a property to move straight into or a smart investment opportunity, this house is a fantastic choice!

Council Tax Band: B
Tenure: Freehold

Agent Details

Pattinson Estate Agents, Auction

0191 625 0242

Next Steps?

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