3 Bed Detached House, Refurb/BRRR, St Albans, AL4 9NN, £600,000

24 Wheat Close, St. Albans, AL4 9NN - 1 views - 2 months ago

Refurb/BRRR
ROI: 1%
69 m²
+16 photos

ValuationOvervalued

Sold Prices£395K - £1.2M
Sold Prices/m²£4.5K/m² - £11.1K/m²

 

 

Square Metres

69 m²
Price/m²£8.7K/m²

Value Estimate

£442,000

 

 

End Value (After Refurb)

£532,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£150,000

Stamp Duty & Legal Fees

£38,700

Refurb Costs

£34,129

Bridging Loan Interest

£15,750

Total Cash In

£240,329

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£532,500

Mortgage (After Refinance)

£399,375

Mortgage LTV

75%

Cash Left In

£240,329

Equity

£133,125

Rent Range

£1,980 - £5,500

Rent Estimate

£2,459

Running Costs/mo

£2,176

Cashflow/mo

£283

Cashflow/yr

£3,398

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £395K to £1.2M, average is £551K. £4.5K/m² to £11.1K/m², average is £6.5K/m².

PriceDateDistanceAddressBeds 
£475K03/240.03 mi15, Wheat Close, Sandridge, St Albans, Hertfordshire AL4 9NN3
£480K03/210.03 mi25, Wheat Close, Sandridge, St Albans, Hertfordshire AL4 9NN3
£475K05/230.03 mi16, Wheat Close, Sandridge, St Albans, Hertfordshire AL4 9NN3
£475K08/230.05 mi23, Taylor Close, St Albans, Hertfordshire AL4 9YB3
£535K10/220.09 mi29, Field Close, Sandridge, St Albans, Hertfordshire AL4 9NW3
£525K06/210.09 mi10, Field Close, Sandridge, St. Albans, Hertfordshire AL4 9NW3
£555K10/210.1 mi17, Boling Brook, St Albans, Hertfordshire AL4 9NP3
£520K08/210.1 mi5, Boling Brook, St Albans, Hertfordshire AL4 9NP3
£540K02/210.1 mi30, Boling Brook, St Albans, Hertfordshire AL4 9NP3
£738K07/230.1 mi34, Boling Brook, St Albans, Hertfordshire AL4 9NP3
£700K09/220.11 mi16, Laybrook, St Albans, Hertfordshire AL4 9NJ3
£475K03/210.13 mi8, Runcie Close, St. Albans, Hertfordshire AL4 9AX3
£550K10/220.14 mi33, Runcie Close, St Albans, Hertfordshire AL4 9AX3
£655K02/230.18 mi29, Slimmons Drive, St Albans, Hertfordshire AL4 9AW3
£680K08/230.21 mi50, Slimmons Drive, St Albans, Hertfordshire AL4 9AP3
£619K06/210.21 mi38, Slimmons Drive, St. Albans, Hertfordshire AL4 9AP3
£626K03/230.21 mi48, Slimmons Drive, St Albans, Hertfordshire AL4 9AP3
£860K06/240.21 mi91, The Ridgeway, St Albans, Hertfordshire AL4 9NU3
£450K08/230.23 mi188, St Albans Road, Sandridge, St Albans, Hertfordshire AL4 9LP3
£435K02/240.23 mi186, St Albans Road, Sandridge, St Albans, Hertfordshire AL4 9LP3
£655K11/230.26 mi27, Marten Gate, St Albans, Hertfordshire AL4 9NB3
£715K01/240.29 mi10, Chalkdell Fields, St Albans, Hertfordshire AL4 9NA3
£725K01/210.3 mi70, Pondfield Crescent, St Albans, Hertfordshire AL4 9PF3
£701K04/240.3 mi1, St Marys Walk, St Albans, Hertfordshire AL4 9PD3
£731K11/220.31 mi55, Chalkdell Fields, St Albans, Hertfordshire AL4 9LT3
£625K05/230.31 mi53, Chalkdell Fields, St Albans, Hertfordshire AL4 9LT3
£430K02/210.31 mi61, Chalkdell Fields, St Albans, Hertfordshire AL4 9LT3
£500K03/210.31 mi31, Furse Avenue, St Albans, Hertfordshire AL4 9NF3
£520K11/200.37 mi25, Dymoke Green, St Albans, Hertfordshire AL4 9LX3
£520K01/210.37 mi13, Dymoke Green, St. Albans, Hertfordshire AL4 9LX3
£920K01/240.38 mi11, Queens Crescent, St Albans, Hertfordshire AL4 9QG3
£925K11/220.39 mi29, Queens Crescent, St Albans, Hertfordshire AL4 9QG3
£1.2M03/210.41 mi60, Marshalswick Lane, St Albans, Hertfordshire AL1 4XF3
£850K06/210.41 mi22, Skys Wood Road, St. Albans, Hertfordshire AL4 9PG3
£750K02/210.42 mi33, Marshalswick Lane, St Albans, Hertfordshire AL1 4UR3
£395K04/210.44 mi7, Canberra Close, St. Albans, Hertfordshire AL3 6LW3
£406K08/230.45 mi22, Mendip Close, St Albans, Hertfordshire AL4 9SS3
£398K04/210.45 mi26, Mendip Close, St Albans, Hertfordshire AL4 9SS3
£975K01/230.46 mi48, Kingshill Avenue, St Albans, Hertfordshire AL4 9QB3
£470K04/230.47 mi117, Windmill Avenue, St Albans, Hertfordshire AL4 9SL3
£790K04/240.48 mi31, Sherwood Avenue, St Albans, Hertfordshire AL4 9QJ3
£440K06/210.48 mi22, Melbourne Close, St. Albans, Hertfordshire AL3 6LU3
£430K02/210.49 mi27, Melbourne Close, St Albans, Hertfordshire AL3 6LU3
£445K10/200.49 mi24, Melbourne Close, St Albans, Hertfordshire AL3 6LU3
£497K11/200.52 mi26, Hobart Walk, St Albans, Hertfordshire AL3 6LS3
£552K02/230.54 mi35, Windmill Avenue, St Albans, Hertfordshire AL4 9SJ3
£605K08/230.54 mi80, Windmill Avenue, St Albans, Hertfordshire AL4 9SN3
£595K09/230.54 mi86, Windmill Avenue, St Albans, Hertfordshire AL4 9SN3
£920K07/230.54 mi113, The Ridgeway, St Albans, Hertfordshire AL4 9XA3
£480K05/210.54 mi19, Highfield Road, Sandridge, St. Albans, Hertfordshire AL4 9BU3

Local Rents

13 rents from £2K/mo to £5.5K/mo, average is £2.4K/mo.

RentDateDistanceAddressBeds 
£3,00012/240.22 miThe Ridgeway, St Albans, Herts, AL43
£2,10012/240.53 miTewin Close, St. Albans, Hertfordshire, AL43
£5,50004/250.61 mi-3
£2,20012/240.67 miBeech Road, St. Albans, Hertfordshire, AL3 5AW3
£1,98004/250.67 mi-3
£2,85012/240.7 miLangham Close, St. Albans, Hertfordshire3
£2,65001/240.75 mi-3
£2,00012/241 miGladeside3
£2,25012/241.1 miLaurel Edge, Avenue Road, St. Albans, Hertfordshire3
£2,20012/241.11 miSummerhill Court, Avenue Road, St Albans, AL13
£3,10012/241.11 mi-3
£2,35012/241.21 miGreen Lane, St. Albans, Hertfordshire3
£2,35012/241.21 miGreen Lane3

Local Area Statistics

Population in AL4

27,203

Population in St Albans

114,693

Town centre distance

2.19 miles away

Nearest school

0.10 miles away

Nearest train station

1.63 miles away

 

 

Rental growth (12m)

-12%

Sales demand

Balanced market

Capital growth (5yrs)

+22%

Property History

Price changed to £600,000

March 28, 2025

Listed for £625,000

February 18, 2025

Floor Plans

Description

This charming three-bedroom detached home set in a quite cul-de-sac, offers a fantastic opportunity for those looking to create their ideal living space including an attached garage and a private driveway. Inside, the property is ready for modernisation, offering great potential to update and personalise to your own taste and style.

The accommodation begins with a welcoming porch leading into a generous living room and stairs to the first floor with a lounge and dining area with dual aspect front window and rear French doors opening out onto a well presented rear garden and patio. The kitchen offers shaker style base units complimented by quarts worktops including recesses for appliances and an electric freestanding oven and hob.

To the first floor there are three good sized bedrooms and a family bathroom with a three piece white suite and a bath with a shower above.

The well-maintained, mature rear garden provides a tranquil outdoor retreat, perfect for family gatherings or simply relaxing in the fresh air.

Whether you’re looking to add your own finishing touches or undertake a full renovation, this home is full of promise and waiting for its new owners to make it their own. Ideal for those looking to invest in a property with both space and potential, this home is not to be missed.

Wheat Close is conveniently located in the popular Jersey Farm development close to a parade of local shops including a Tesco, local doctors, pharmacy and a friendly pub. There are also several sought-after local schools close by and St Albans City centre and mainline train station are easily accessible and the green space of Heartwood Forrest and countryside within walking distance.

Accommodation -

Porch -

Living Room - 7.19m x 3.68m (23'7 x 12'1) -

Kitchen - 3.18m x 2.69m (10'5 x 8'10) -

First Floor -

Bedroom - 3.84m x 2.67m (12'7 x 8'9) -

Bedroom - 3.25m x 2.67m (10'8 x 8'9) -

Bedroom - 2.34m x 1.78m (7'8 x 5'10) -

Family Bathroom -

External -

Garage -

Driveway -

Rear Garden -

Agent Details

Paul Barker Estate Agents, St Albans

01727 222064

Next Steps?

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

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