3 Bed Semi-Detached House, Refurb/BRRR, Colchester, CO4 5LQ, £325,000

Defoe Crescent, Colchester, Essex, CO4 5LQ - 4 views - 3 months ago

Sold STC

Refurb/BRRR

Planning

ROI: 5%

~93 m²

+11 photos

ValuationOvervalued

Sold Prices	£225K - £515K
Sold Prices/m²	£2.9K/m² - £5.9K/m²

Square Metres	~93 m²
Price/m²	£3.5K/m²
Value Estimate	£311,505£311,505

End Value (After Refurb)	£319,172£319,172

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£81,250£81,250
Stamp Duty & Legal Fees	£14,700£14,700
Refurb Costs	£44,000£44,000
Bridging Loan Interest	£8,531£8,531
Total Cash In	£150,231£150,231

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£319,172£319,172
Mortgage (After Refinance)	£239,379£239,379
Mortgage LTV	75%75%
Cash Left In	£150,231£150,231
Equity	£79,793£79,793
Rent Range	£1,350 - £3,500£1,350 - £3,500
Rent Estimate	£2,058
Running Costs/mo	£1,429£1,429
Cashflow/mo	£629£629
Cashflow/yr	£7,548£7,548
ROI	5%5%
Gross Yield	8%8%

Local Sold Prices

50 sold prices from £225K to £515K, average is £303.8K. £2.9K/m² to £5.9K/m², average is £3.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£305K	10/21	0.06 mi	76, Nayland Road, Mile End, Colchester, Essex CO4 5EW	£4,011	76	3	Terraced House
£350K	05/23	0.11 mi	4, Defoe Crescent, Colchester, Essex CO4 5LG	£3,571	98	3	Semi-Detached House
£350K	04/23	0.13 mi	47, Defoe Crescent, Colchester, Essex CO4 5LQ	-	-	3	Semi-Detached House
£270K	03/23	0.13 mi	59, Defoe Crescent, Colchester, Essex CO4 5LQ	£3,803	71	3	Semi-Detached House
£345K	04/21	0.17 mi	3a, Studds Lane, Colchester, Essex CO4 5EJ	£3,350	103	3	Semi-Detached House
£244K	01/21	0.24 mi	2, Link Close, Colchester, Essex CO4 5EH	£3,089	79	3	Semi-Detached House
£515K	02/21	0.28 mi	2, Borges Gardens, Mile End, Colchester, Essex CO4 5EF	£5,598	92	3	Semi-Detached House
£325K	02/21	0.41 mi	12, Thornwood, Colchester, Essex CO4 5LR	£4,333	75	3	Semi-Detached House
£375K	01/23	0.41 mi	29, Beaumont Close, Colchester, Essex CO4 5XE	£4,683	80	3	Detached House
£335K	06/23	0.43 mi	21, Shepherd Drive, Colchester, Essex CO4 5FA	£4,664	72	3	Terraced House
£302.5K	11/20	0.43 mi	23, Shepherd Drive, Colchester, Essex CO4 5FA	£3,735	81	3	Semi-Detached House
£360K	12/20	0.44 mi	38, Turner Road, Colchester, Essex CO4 5LB	£3,258	110	3	Detached House
£340K	06/23	0.45 mi	197, Mill Road, Mile End, Colchester, Essex CO4 5LP	-	-	3	Detached House
£345K	06/23	0.46 mi	273, Mile End Road, Colchester, Essex CO4 5DZ	£3,224	107	3	Semi-Detached House
£320K	02/21	0.47 mi	4, Posford Court, Colchester, Essex CO4 5LY	£3,274	98	3	Terraced House
£292.5K	02/21	0.48 mi	11, Stow Court, Colchester, Essex CO4 5LU	£3,362	87	3	Terraced House
£292.5K	05/23	0.48 mi	3, Stow Court, Colchester, Essex CO4 5LU	£3,362	87	3	Terraced House
£355K	06/23	0.48 mi	24, Stammers Road, Colchester, Essex CO4 5LX	-	-	3	Detached House
£350K	05/23	0.51 mi	13, Rudkin Road, Colchester, Essex CO4 5LT	£4,268	82	3	Semi-Detached House
£263K	01/21	0.59 mi	22, Hakewill Way, Colchester, Essex CO4 5GU	-	-	3	Terraced House
£270K	11/21	0.59 mi	124, Turner Road, Colchester, Essex CO4 5JT	-	-	3	Semi-Detached House
£425K	08/23	0.6 mi	2a, Kingswood Road, Colchester, Essex CO4 5JX	-	-	3	Detached House
£300K	02/21	0.6 mi	10, Kingswood Road, Colchester, Essex CO4 5JX	£5,869	51	3	Detached House
£380K	01/23	0.61 mi	268, Mill Road, Mile End, Colchester, Essex CO4 5JQ	-	-	3	Detached House
£275K	10/21	0.64 mi	193, Mile End Road, Colchester, Essex CO4 5DB	£3,438	80	3	Semi-Detached House
£270K	05/23	0.64 mi	11, Lufkin Road, Colchester, Essex CO4 5JN	-	-	3	Terraced House
£345K	01/23	0.65 mi	125, Hakewill Way, Colchester, Essex CO4 5GX	£3,594	96	3	Semi-Detached House
£300K	06/23	0.69 mi	2, Knevett Close, Colchester, Essex CO4 5HQ	-	-	3	Semi-Detached House
£250K	04/21	0.71 mi	51, Cowper Crescent, Colchester, Essex CO4 5XT	£2,991	84	3	Terraced House
£267.5K	04/21	0.72 mi	65, Hollymead Close, Colchester, Essex CO4 5UU	£2,908	92	3	Semi-Detached House
£251K	03/21	0.74 mi	89, Weetmans Drive, Colchester, Essex CO4 9EA	£3,746	67	3	Terraced House
£330K	06/21	0.75 mi	74, Mile End Road, Colchester, Essex CO4 5BY	£3,882	85	3	Semi-Detached House
£465K	01/21	0.77 mi	The Laurels, Nayland Road, Great Horkesley, Colchester, Essex CO6 4HA	£3,843	121	3	Detached House
£425K	06/21	0.77 mi	Moncrieff, Nayland Road, Great Horkesley, Colchester, Essex CO6 4HA	-	-	3	Detached House
£386.5K	02/23	0.79 mi	47, Prior Way, Colchester, Essex CO4 5DH	£5,019	77	3	Semi-Detached House
£250K	06/21	0.8 mi	214, Bergholt Road, Colchester, Essex CO4 5AS	£2,976	84	3	Semi-Detached House
£290K	12/22	0.8 mi	7, Otho Drive, Highwoods, Colchester, Essex CO4 9ES	£3,867	75	3	Terraced House
£260K	04/21	0.81 mi	3, Enid Way, Colchester, Essex CO4 5DL	-	-	3	Semi-Detached House
£232K	11/20	0.81 mi	7, Stanford Road, Colchester, Essex CO4 5NF	£2,864	81	3	Terraced House
£270K	03/21	0.83 mi	1, Bluebell Way, Colchester, Essex CO4 5UH	£3,699	73	3	Detached House
£225K	02/21	0.83 mi	321, Mill Road, Mile End, Colchester, Essex CO4 5GQ	£3,629	62	3	Terraced House
£240K	05/21	0.83 mi	327, Mill Road, Mile End, Colchester, Essex CO4 5GQ	£3,243	74	3	Terraced House
£270K	04/21	0.83 mi	174, Bergholt Road, Colchester, Essex CO4 5AJ	-	-	3	Detached House
£322.5K	03/21	0.84 mi	48, Jade Gardens, Colchester, Essex CO4 5FG	£2,879	112	3	Terraced House
£278K	04/21	0.84 mi	15, Fernlea, Colchester, Essex CO4 5UA	£3,519	79	3	Semi-Detached House
£282K	06/21	0.86 mi	1, Lavender Way, Colchester, Essex CO4 5UE	-	-	3	Semi-Detached House
£350K	11/21	0.86 mi	49, Tufnell Way, Colchester, Essex CO4 5AP	£4,545	77	3	Terraced House
£440K	01/21	0.86 mi	8, Brick Kiln Lane, Great Horkesley, Colchester, Essex CO6 4EU	-	-	3	Detached House
£285K	02/21	0.86 mi	18, Hurrell Down, Highwoods, Colchester, Essex CO4 9TP	-	-	3	Semi-Detached House
£307K	09/21	0.87 mi	17, Fernlea, Colchester, Essex CO4 5UA	-	-	3	Semi-Detached House

Local Rents

18 rents from £1.4K/mo to £3.5K/mo, average is £1.8K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,650	12/24	0.28 mi	Leda Way, Colchester, Essex, CO4	3	Flat
£1,835	12/24	0.3 mi	Chesterwell, Mile End, Colchester, Essex, CO4	3	Detached House
£1,885	12/24	0.3 mi	Chesterwell, Mile End, Colchester, Essex, CO4	3	Detached House
£1,835	12/24	0.3 mi	Chesterwell, Mile End, Colchester, Essex, CO4	3	Detached House
£1,735	12/24	0.3 mi	Chesterwell, Elina Road, Colchester, Essex, CO4	3	Detached House
£1,675	12/24	0.33 mi	Kirby Drive, Colchester	3	Detached House
£1,700	12/24	0.34 mi	-	3	Detached House
£1,795	12/24	0.34 mi	Mandarin Way, Colchester, CO4	3	Detached House
£1,600	12/24	0.34 mi	St. Michaels Close, Colchester, Essex, CO4	3	Detached House
£1,350	04/25	0.35 mi	-	3	Semi-Detached House
£1,500	12/24	0.36 mi	Cambie Crescent, Colchester, Essex, CO4	3	Terraced House
£1,650	12/24	0.42 mi	-	3	Semi-Detached House
£1,700	12/24	0.42 mi	Sapphire Crescent, Colchester, Essex, CO4	3	Flat
£1,875	02/25	0.45 mi	-	3	Detached House
£3,500	02/24	0.45 mi	-	3	Semi-Detached House
£3,500	04/25	0.45 mi	-	3	Semi-Detached House
£3,200	04/25	0.45 mi	-	3	Semi-Detached House
£3,500	12/24	0.45 mi	Lilianna Road, Colchester, CO4	3	Detached House

Local Area Statistics

Population in CO4	47,78947,789
Population in Colchester	214,734214,734
Town centre distance	1.90 miles away1.90 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	1.05 miles away1.05 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-16%-16%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+16%+16%

Property History

Listed for £325,000

January 31, 2025

Floor Plans

Description

Semi Detached House +
Three Bedrooms +
Two Reception Rooms +
Cloakroom +
Off Road Parking +
Close To Amenities +

GUIDE PRICE £325,000 - £350,000 Situated in Mile End to north of Colchester sits this good size three bedroom semi detached family home, positioned on an exception corner plot with ample space to extend and improve subject to planning permission.

Located within easy access of the Hospital and mainline Station, the ground floor features an entrance hallway, good size lounge, fitted kitchen and additional dining room with a lobby to the side including cloakroom. The first floor offers three good size bedrooms and family bathroom.

To the front of the property is a hardstanding area which could be used for off road parking subject to obtaining a dropped kerb.

Requiring light modernisation in places, we are expecting considerable demand an as such recommend an early enquiry to avoid disappointment.

Entrance Hallway Entrance door, stairs rising to the first floor landing, radiator, doors leading off

Kitchen 3.45m x 2.8m (11' 4" x 9' 2") Double glazed window to rear, wall and base level units, stainless steel sink and drainer with mixer tap over, oven and hob, extractor fan, worktops, space for washing machine

Lobby Access to:

Cloakroom Double glazed window to rear, low level WC

Dining Room 3.28m x 2.97m (10' 9" x 9' 9") Double glazed window to front, radiator

Lounge 3.89m x 3.89m (12' 9" x 12' 9") Double glazed patio doors to rear, double glazed window to front, radiator

First Floor Landing Double glazed window, loft access, doors leading off

Master Bedroom 4m x 3.96m (13' 1" x 13' 0") Double glazed windows to front and rear, radiator

Bedroom Two 3.35m x 2.97m (11' 0" x 9' 9") Double glazed window to front, radiator

Bedroom Three 3.38m x 2.24m (11' 1" x 7' 4") Double glazed window to rear, radiator

Bathroom 1.96m x 1.7m (6' 5" x 5' 7") Double glazed window to rear, low level WC, pedestal wash hand basin, panelled enclosed bath with shower over

Front of Property Hard standing area for off road parking

Rear Garden Fully enclosed and private, large corner plot, laid to lawn, outbuilding, side access

Agent Details

Harris + Wood, Chesterwell

01206 636476

Next Steps?

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