2 Bed Terraced House, Refurb/BRRR, Chatham, ME4 5LJ, £187,000

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

Sold STC
Refurb/BRRR
ROI: 4%
~68 m²
+5 photos

ValuationFair Value

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

 

 

Square Metres

~68.11 m²
Price/m²£2.7K/m²

Value Estimate

£187,731

 

 

End Value (After Refurb)

£203,117

Uplift in Value

+4%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,750

Stamp Duty & Legal Fees

£7,050

Refurb Costs

£33,396

Bridging Loan Interest

£4,909

Total Cash In

£93,855

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£203,117

Mortgage (After Refinance)

£152,338

Mortgage LTV

75%

Cash Released

£12,088

Cash Left In

£81,768

Equity

£50,779

Rent Range

£800 - £2,050

Rent Estimate

£1,234

Running Costs/mo

£902

Cashflow/mo

£332

Cashflow/yr

£3,990

ROI

4%

Gross Yield

8%

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 
£210K10/230.06 mi7, Castle Road, Chatham, Medway ME4 5HG2
£160K02/210.08 mi2, Portland Street, Chatham, Medway ME4 5LS2
£140K03/240.09 mi10, Victoria Road, Chatham, Medway ME4 5EY2
£140K03/240.09 mi10, Victoria Road, Chatham, Medway ME4 5EY2
£200K05/210.09 mi13, Cobden Road, Chatham, Medway ME4 5HW2
£225K10/230.09 mi25, Cobden Road, Chatham, Medway ME4 5HW2
£205K01/240.09 mi29, Cobden Road, Chatham, Medway ME4 5HW2
£155K06/210.09 mi79, Castle Road, Chatham, Medway ME4 5HX2
£167K09/210.09 mi84, Castle Road, Chatham, Medway ME4 5HX2
£225K12/220.09 mi92, Castle Road, Chatham, Medway ME4 5HX2
£181K05/210.11 mi53, Gordon Road, Chatham, Medway ME4 5LU2
£205K10/210.11 mi71, Gordon Road, Chatham, Medway ME4 5LU2
£212.5K01/230.13 mi4, Edward Street, Chatham, Medway ME4 5NH2
£240K05/230.14 mi25, Grove Road, Chatham, Medway ME4 5HS2
£212.5K04/230.16 mi160, Castle Road, Chatham, Medway ME4 5HY2
£180K02/240.16 mi116, Castle Road, Chatham, Medway ME4 5HY2
£167K12/200.16 mi6, East Street, Chatham, Medway ME4 5NJ2
£190K05/210.16 mi112, Thorold Road, Chatham, Medway ME5 7DS2
£165K04/230.16 mi101, Thorold Road, Chatham, Medway ME5 7DS2
£218.5K06/230.17 mi22, Dagmar Road, Chatham, Medway ME4 5HB2
£178K01/210.18 mi26, Grange Hill, Chatham, Medway ME5 7AH2
£175K03/210.18 mi17, Grange Hill, Chatham, Medway ME5 7AH2
£175K02/210.18 mi101, Gordon Road, Chatham, Medway ME4 5LX2
£227.5K06/210.18 mi149, Gordon Road, Chatham, Medway ME4 5LX2
£230K05/230.19 mi82, Victoria Road, Chatham, Medway ME4 5EU2
£160.5K11/200.19 mi54, Seymour Road, Chatham, Medway ME5 7AE2
£180K01/210.2 mi271, Luton Road, Chatham, Kent ME4 5BN2
£218K02/240.22 mi19, Alfred Close, Chatham, Medway ME4 5EE2
£230K12/220.22 mi13, Salisbury Road, Chatham, Medway ME4 5NW2
£170K09/210.22 mi9, Thorold Road, Chatham, Medway ME5 7EA2
£190K10/210.22 mi7, Salisbury Road, Chatham, Medway ME4 5NW2
£160K11/200.23 mi171, Castle Road, Chatham, Medway ME4 5HZ2
£216K06/230.23 mi224, Castle Road, Chatham, Medway ME4 5HZ2
£195K11/230.26 mi56, Lester Road, Chatham, Medway ME4 5NP2
£181K03/210.28 mi20, Brisbane Road, Chatham, Medway ME4 5PE2
£157K11/200.28 mi83, Connaught Road, Chatham, Medway ME4 5DH2
£230K01/230.29 mi64, Connaught Road, Chatham, Medway ME4 5DH2
£195K05/210.3 mi88, Glencoe Road, Chatham, Medway ME4 5QG2
£160K02/210.3 mi22, Otway Street, Chatham, Kent ME4 5PG2
£205K10/230.3 mi22, Otway Street, Chatham, Medway ME4 5PG2
£217.6K09/220.31 miHomeside, Albert Road, Chatham, Medway ME4 5PZ2
£165K03/210.31 mi18, Ernest Road, Chatham, Medway ME4 5PT2
£194K12/230.31 mi18, Ernest Road, Chatham, Medway ME4 5PT2
£214.4K01/230.31 mi59, St Johns Road, Gillingham, Medway ME7 5QE2
£203K10/200.32 mi59, Symons Avenue, Chatham, Medway ME4 5UH2
£170K04/210.32 mi71, Symons Avenue, Chatham, Medway ME4 5UH2
£160K03/210.32 mi3, Hartington Street, Chatham, Medway ME4 5PH2
£165K03/210.32 mi359, Luton Road, Chatham, Medway ME4 5BJ2
£165K04/210.32 mi60, Glencoe Road, Chatham, Medway ME4 5QE2
£156.5K02/210.33 mi5, Herman Terrace, Chatham, Medway ME4 5NX2
£205K09/210.33 mi12, Cromwell Terrace, Chatham, Medway ME4 5PQ2

Local Rents

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

RentDateDistanceAddressBeds 
£1,30008/240.04 miGordon Road Chatham ME42
£1,20006/240.07 miGordon Road, Chatham2
£1,15006/240.07 miGordon Road, Chatham2
£2,05004/240.09 mi-2
£1,45007/240.09 mi-2
£1,45007/240.09 miCastle Road, Chatham, ME42
£1,10001/240.09 mi-2
£1,35005/240.1 mi-2
£1,40006/240.1 mi-2
£1,40004/250.1 mi-2
£1,15007/240.11 miGordon Road, CHATHAM2
£1,25002/250.12 mi-2
£1,20008/240.13 mi-2
£1,20005/240.13 miThorold Road, Chatham, Kent, ME52
£1,05005/240.13 miLuton Road, Chatham2
£1,32504/250.13 mi-2
£1,10005/240.13 miVictoria Road, Chatham2
£1,15007/240.15 miConstitution Road, Chatham, ME52
£1,15007/240.15 miConstitution Road, Chatham, ME52
£1,15008/240.15 mi-2
£1,15012/240.15 mi-2
£1,30002/250.15 mi-2
£1,35004/250.16 mi-2
£1,20007/240.22 mi-2
£95008/240.22 mi-2
£1,20002/250.22 mi-2
£1,15007/240.22 miMary Court, Chatham, ME5 2
£1,15005/240.23 mi-2
£1,40005/240.23 miChatham, ME42
£1,05006/240.26 mi-2
£1,05006/240.26 mi-2
£1,05006/240.26 mi-2
£1,35007/240.27 miErnest Road, Chatham, Kent, ME42
£80008/240.28 miSturla Road, Chatham2
£1,25007/240.28 miGlencoe Road, Chatham, Kent, ME42
£1,40003/250.29 mi-2
£1,39505/240.29 mi-2
£1,40004/250.29 mi-2
£1,25006/240.3 miImperial Road, Gillingham2
£1,30003/250.3 mi-2
£1,25007/240.31 mi-2
£1,30003/250.31 mi-2
£1,45005/240.31 mi-2
£1,20004/250.32 mi-2
£1,30004/250.33 mi-2
£1,30006/240.34 miEdinburgh Road, Chatham, Kent, ME42
£1,04908/240.36 mi-2
£1,20005/240.37 miChatham Hill, Chatham, Kent, ME52
£1,20002/250.38 mi-2
£1,35012/240.38 mi-2
£1,25007/240.38 mi-2
£1,25006/240.38 miChatham Hill, Chatham, ME52

Local Area Statistics

Population in ME4

30,244

Population in Chatham

82,044

Town centre distance

0.58 miles away

Nearest school

0.20 miles away

Nearest train station

0.79 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £187,000

February 20, 2025

Listed for £195,000

February 11, 2025

Description

  • Two Bedrooms +
  • No Onward Chain +
  • Ideal First Time Buy or Investment +
  • Work Required +

Representing an ideal first time buy or investment opportunity is this two bedroom Victorian terraced property, situated in central Chatham therefore convenient for Chatham Town Centre with a wide range of shopping facilities, pubs, bars, cafes and mainline railway station for fast commuter services into London Victoria or highspeed links into St Pancras. Once through the entrance door you will find an open plan lounge/diner, off this is a useful lean-to conservatory, kitchen and a downstairs bathroom. Upstairs are two bedrooms. Outside is a terraced garden to the rear. The property now requires modernisation and improvement and offers no onward chain. Call the friendly sales team at Wright & Co today for your earliest appointment to view.

Entrance Door To:- -

Open Plan Lounge/Diner - 7.7 x 4 (25'3" x 13'1") - Window to front, double doors to lean to, staircase, two double radiators, trap door to cellar, opening to:-

Kitchen - 3.26 x 2.2 (10'8" x 7'2") - Door and window to side, base and eye level cupboard and drawer units with associated work surfaces, inset single one and half bowl single drainer stainless steel sink unit with mixer taps, gas hob (not tested), oven and grill (not tested)

Lean To - 3 x 2 (9'10" x 6'6") - Plumbing for washing machine, door to garden

Bathroom - 2 x 2 (6'6" x 6'6") - Window to rear, white suite with panelled bath, wash hand basin, low level W.C

First Floor Landing -

Bedroom One - 4 x 3.3 (13'1" x 10'9") - Window to front, radiator, cupboard

Bedroom Two - 3.4 x 2.7 (11'1" x 8'10") - Window to rear, radiator, cupboard

Exterior Rear - Terraced rear garden, rear pedestrian access

Agent Details

Wright & Co, Gillingham

01634 563369

Next Steps?

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