4 Bed Detached House, Refurb/BRRR, Chelmsford, CM2 0EZ, £600,000

Grove Road, Chelmsford, CM2 0EZ - 2 views - 2 months ago

Refurb/BRRR
~129 m²
+11 photos

ValuationOvervalued

Sold Prices£207.5K - £895K
Sold Prices/m²£2.8K/m² - £8K/m²

 

 

Square Metres

~129.26 m²
Price/m²£4.6K/m²

Value Estimate

£528,891

 

 

End Value (After Refurb)

£621,188

Uplift in Value

+4%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£150,000

Stamp Duty & Legal Fees

£36,700

Refurb Costs

£63,200

Bridging Loan Interest

£15,750

Total Cash In

£267,400

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£621,188

Mortgage (After Refinance)

£465,891

Mortgage LTV

75%

Cash Released

£15,891

Cash Left In

£251,509

Equity

£155,297

Rent Range

£1,350 - £4,500

Rent Estimate

£2,366

Running Costs/mo

£2,434

Cashflow/mo

£-68

Cashflow/yr

£-821

Gross Yield

5%

Local Sold Prices

50 sold prices from £207.5K to £895K, average is £537.5K. £2.8K/m² to £8K/m², average is £4.3K/m².

PriceDateDistanceAddressBeds 
£766K03/230.03 mi68, Mildmay Road, Chelmsford, Essex CM2 0DZ4
£420K12/200.1 mi39, Hamlet Road, Chelmsford, Essex CM2 0EU4
£450K02/230.1 mi77, Manor Road, Chelmsford, Essex CM2 0ER4
£491.8K01/210.11 mi2, Manor Road, Chelmsford, Essex CM2 0ER4
£678K01/210.18 mi30, Lady Lane, Chelmsford, Essex CM2 0TQ4
£690K06/230.21 mi31, Lynmouth Avenue, Chelmsford, Essex CM2 0TP4
£535K06/210.3 mi128, Moulsham Street, Chelmsford, Essex CM2 0JW4
£770K06/230.3 mi117a, Moulsham Street, Chelmsford, Essex CM2 0JW4
£715K12/200.32 mi28, St Johns Avenue, Chelmsford, Essex CM2 0UB4
£735K01/210.32 mi18, St Johns Avenue, Chelmsford, Essex CM2 0UB4
£470K11/200.33 mi28, Fortinbras Way, Chelmsford, Essex CM2 9PA4
£675K02/230.35 mi86, Moulsham Drive, Chelmsford, Essex CM2 9PY4
£631K07/230.35 mi52, Moulsham Drive, Chelmsford, Essex CM2 9PY4
£372.5K06/230.35 mi10, Lower Anchor Street, Chelmsford, Essex CM2 0AS4
£526.5K08/210.36 mi5, Fortinbras Way, Chelmsford, Essex CM2 9JA4
£723K01/230.37 mi100, Vicarage Road, Chelmsford, Essex CM2 9BP4
£532K06/210.38 mi2, Amcotes Place, Chelmsford, Essex CM2 9HZ4
£595K03/210.4 mi5, Van Diemans Lane, Chelmsford, Essex CM2 9QJ4
£625K08/230.4 mi5, Van Diemans Lane, Chelmsford, Essex CM2 9QJ4
£730K11/200.41 mi112, Vicarage Road, Chelmsford, Essex CM2 9BS4
£472.5K09/210.43 mi100, Burghley Way, Chelmsford, Essex CM2 9LQ4
£450K04/230.43 mi128, Burghley Way, Chelmsford, Essex CM2 9LQ4
£207.5K01/230.43 mi32, Burghley Way, Chelmsford, Essex CM2 9LQ4
£540K12/200.45 mi37, Finchley Avenue, Chelmsford, Essex CM2 9BX4
£590K07/230.46 mi138, Moulsham Drive, Chelmsford, Essex CM2 9QA4
£895K03/230.46 mi39, Finchley Avenue, Chelmsford, Essex CM2 9BX4
£465K03/210.47 mi150, Fortinbras Way, Chelmsford, Essex CM2 9UL4
£575K03/210.47 mi142, Fortinbras Way, Chelmsford, Essex CM2 9UL4
£600K09/210.5 mi76, Waterson Vale, Chelmsford, Essex CM2 9PB4
£840K08/210.51 miFoxwood, Moulsham Street, Chelmsford, Essex CM2 0JJ4
£480K02/210.53 mi24, Lister Tye, Chelmsford, Essex CM2 9LS4
£565K12/200.53 mi21, Lister Tye, Chelmsford, Essex CM2 9LS4
£570K08/230.59 mi26, Weight Road, Chelmsford, Essex CM2 6LE4
£350K03/210.63 mi36, Meadgate Avenue, Chelmsford, Essex CM2 7LQ4
£476.5K01/210.63 mi6, Gunson Gate, Chelmsford, Essex CM2 9NZ4
£350K04/210.65 mi328, Gloucester Avenue, Chelmsford, Essex CM2 9LJ4
£560K01/230.66 mi46, Hillside Grove, Chelmsford, Essex CM2 9DA4
£544K11/210.66 mi8, Hillside Grove, Chelmsford, Essex CM2 9DA4
£500K06/210.66 mi6, Bawden Way, Chelmsford, Essex CM2 9GY4
£440K01/230.67 mi44, Parkinson Drive, Chelmsford, Essex CM1 3GH4
£423K08/230.68 mi57, Coval Lane, Chelmsford, Essex CM1 1TG4
£347.5K11/200.68 mi57, Coval Lane, Chelmsford, Essex CM1 1TG4
£440K04/210.69 mi77, Parkinson Drive, Chelmsford, Essex CM1 3GU4
£445K12/220.7 mi20, Rosseter Close, Chelmsford, Essex CM2 9GL4
£432K03/210.78 mi24, Chelwater, Great Baddow, Chelmsford, Essex CM2 7UQ4
£420K11/200.79 mi2, Bruce Grove, Chelmsford, Essex CM2 9AX4
£600K11/200.8 mi28, Avenue Road, Chelmsford, Essex CM2 9TY4
£565K05/230.8 mi6, Byron Road, Chelmsford, Essex CM2 6EP4
£571K12/200.8 mi115, Waterhouse Lane, Chelmsford, Essex CM1 2RY4
£450K03/210.8 mi113, Waterhouse Lane, Chelmsford, Essex CM1 2RY4

Local Rents

50 rents from £1.4K/mo to £4.5K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£4,50003/240.05 mi-3
£4,50002/250.05 mi-3
£1,75004/240.08 miHamlet Road, Chelmsford, CM24
£1,80003/240.09 miGrove Road, Chelmsford3
£1,69503/240.1 miManor Road, Old Moulsham3
£1,65003/240.13 miMews Court, Chelmsford, CM2 9PF3
£1,75005/240.13 miBouverie Road, Chelmsford, CM23
£1,75001/250.14 mi-3
£1,75002/250.14 mi-3
£1,75003/240.14 miBouverie Road, Chelmsford, CM23
£1,78004/240.14 mi-3
£1,69505/240.27 miRedcliffe Road, CHELMSFORD3
£1,69512/240.27 miRedcliffe Road, CHELMSFORD3
£1,35003/240.28 miHayes Close, Chelmsford, CM23
£1,75004/240.28 miSt Johns Road, Chelmsford, CM23
£2,30005/240.31 miLady Lane, Chelmsford, CM25
£1,85004/250.38 mi-3
£3,50004/250.41 mi-3
£1,85004/240.41 miWharf Road, Chelmsford3
£1,85004/240.41 miWharf Road, Chelmsford3
£2,69505/240.44 miWharf Road, Chelmsford, CM25
£2,95005/240.44 mi-5
£2,69505/240.44 mi-5
£1,70004/250.45 mi-3
£1,89703/240.45 miWharf Road, Chelmsford, Essex, CM23
£1,88204/240.45 miWharf Road, Chelmsford, Essex, CM23
£2,12003/240.45 miWharf Road, One Canalside, Chelmsford, CM23
£2,22004/240.45 miWharf Road, Chelmsford, Essex, CM23
£4,50002/240.48 mi-3
£4,50003/240.48 mi-3
£4,50004/250.48 mi-3
£1,55003/250.48 mi-3
£1,55004/240.49 miUpper Bridge Road, Chelmsford, CM23
£1,55004/240.49 mi-3
£2,69504/240.49 miMoulsham Street, CM24
£3,20004/240.49 miVicarage Road, CHELMSFORD4
£2,20004/240.5 miWaterson Vale, Chelmsford4
£1,65005/240.53 miWaltham Glen, Chelmsford, Essex, CM2 9EL3
£1,75003/240.54 miCannon Mews, CHELMSFORD3
£3,30002/240.56 mi-3
£3,25003/240.56 mi-3
£3,25001/250.56 mi-3
£3,20004/250.56 mi-3
£1,65002/240.58 mi-3
£1,72503/250.58 mi-3
£3,00004/250.59 mi-4
£1,89504/240.59 miParkinson Drive, Chelmsford4
£1,69504/240.6 miRose Glen, Chelmsford, Essex, CM23
£1,55001/250.61 mi-3
£2,30004/240.61 mi104 Marconi Plaza, Chelmsford, Essex, CM13

Local Area Statistics

Population in CM2

58,244

Population in Chelmsford

174,693

Town centre distance

0.74 miles away

Nearest school

0.30 miles away

Nearest train station

0.61 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £600,000

February 13, 2025

Floor Plans

Description

  • No Onward Chain +
  • Over 2000 Sqft +
  • Detached House +
  • Gated Driveway +
  • Dating Back To 1849 +
  • Viewing Advised +

Wave Cottage – A Unique & Historic Home in Prime Old Moulsham Location Dating back to 1847, Wave Cottage is a truly one-of-a-kind property that beautifully blends historic charm with modern versatility. Originally believed to be a pair of semi-detached homes, it has been thoughtfully reconfigured to accommodate multi-generational living while retaining its period character. One of the standouts features of this home is its generously sized rooms with impressively high ceilings, true to the architectural style of its era. These grand proportions create a wonderful sense of space and light throughout the home. While the property is clean and tidy, it does require some modernisation and general improvements throughout, making it a fantastic opportunity for those looking to put their own stamp on a historic home. With some updates, it has the potential to become the perfect family residence. The accommodation includes: • First Floor: Three spacious bedrooms, a family bathroom, and a fully equipped kitchen. • Ground Floor: An additional bedroom with an en-suite, a large kitchen/breakfast room, a separate dining room, and a generous living room. • Basement: A versatile space that can be used for storage, a home cinema, games room, or playroom. Throughout the property, you’ll find original character features, adding to its charm and warmth. While not a listed property, Wave Cottage is a rare opportunity to own a home rich in history, with endless potential for a growing family or an investment opportunity such as an HMO. Externally, the home benefits from a gated driveway – a highly sought-after feature in this prime location, just a stone’s throw from Moulsham Street. Please note that part of the land has been sold off previously, and while the garages to the rear are not included in the sale, there is a small private garden area at the rear of the hallway. Offered with no onward chain, this is a truly special property that must be viewed in person to be fully appreciated. Whether you’re searching for a characterful family home or a fantastic investment opportunity, Wave Cottage presents an exciting chance to renovate and enhance a unique home in the heart of Chelmsford. Viewings by appointment only – contact us today!

Agent Details

McCartney Estate Agents, Chelmsford

01245 945622

Next Steps?

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