3 Bed Terraced House, Single Let, Chatham, ME5 7QW, £230,000

Spitfire Close, Chatham, Kent, ME5 7QW - 2 months ago

Auction
BTL
ROI: 6%
~89 m²
+11 photos

ValuationUndervalued

Sold Prices£216K - £400K
Sold Prices/m²£2.3K/m² - £6.5K/m²

 

 

Square Metres

~89 m²
Price/m²£2.6K/m²

Value Estimate

£278,300
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£14,800

Total Cash In

£72,300

 

 

Cash Out

 

Rent Range

£675 - £2,000

Rent Estimate

£1,350

Running Costs/mo

£1,009

Cashflow/mo

£341

Cashflow/yr

£4,095

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £216K to £400K, average is £294K. £2.3K/m² to £6.5K/m², average is £3.7K/m².

PriceDateDistanceAddressBeds 
£285K05/230 mi1, Spitfire Close, Chatham, Medway ME5 7QW3
£240K04/210 mi17, Spitfire Close, Chatham, Medway ME5 7QW3
£232.5K01/210.04 mi23, Halifax Close, Chatham, Kent ME5 7QR3
£395K03/230.12 mi2, Defoe Close, Chatham, Medway ME5 7TJ3
£375K01/230.12 mi2, Emily Road, Chatham, Medway ME5 7LF3
£300K06/210.13 mi9, Emily Road, Chatham, Medway ME5 7LF3
£312.5K12/200.14 mi65, Christie Close, Chatham, Medway ME5 7NQ3
£248K04/210.22 mi46, Mermaid Close, Chatham, Medway ME5 7PT3
£385K03/210.23 mi4, Stanley Road, Chatham, Medway ME5 8LN3
£250K03/210.26 mi43, Stag Road, Chatham, Medway ME5 8LG3
£285K09/210.26 mi25, Stag Road, Chatham, Kent ME5 8LG3
£255K04/210.27 mi96, Heron Way, Chatham, Kent ME5 7RH3
£370K07/230.27 mi33, Wittersham Close, Chatham, Medway ME5 7NA3
£282.5K03/230.27 mi41, Wittersham Close, Chatham, Medway ME5 7NA3
£290K03/210.28 mi47, Illustrious Close, Chatham, Medway ME5 7RW3
£332K04/230.3 mi32, Raleigh Close, Chatham, Medway ME5 7SB3
£345K11/200.3 mi328, Lords Wood Lane, Chatham, Kent ME5 8JT3
£280K11/210.3 mi63, Winchelsea Road, Chatham, Kent ME5 7LT3
£229K04/210.3 mi32, Chaffinch Close, Chatham, Kent ME5 7RG3
£298K04/210.31 mi6, Resolution Close, Chatham, Medway ME5 7RJ3
£380K03/230.31 mi342a, Lords Wood Lane, Chatham, Medway ME5 8JT3
£340K11/210.31 mi8, Tyne Close, Chatham, Medway ME5 8JQ3
£330K01/230.32 mi34, Sheridan Close, Chatham, Medway ME5 7NS3
£248K05/210.32 mi23, Sheridan Close, Chatham, Medway ME5 7NS3
£270K11/200.34 mi8, Goose Close, Chatham, Medway ME5 7SX3
£267.5K01/210.35 mi33, Freshwater Road, Chatham, Medway ME5 7SZ3
£225K03/210.35 mi14, Fisher Road, Chatham, Medway ME5 7RU3
£235K07/210.36 mi35, Heritage Road, Chatham, Medway ME5 7SQ3
£300K01/230.38 mi215, Churchill Avenue, Chatham, Medway ME5 0DQ3
£282K07/230.39 mi139, Churchill Avenue, Chatham, Medway ME5 0DG3
£233K04/210.39 mi99, Churchill Avenue, Chatham, Medway ME5 0DG3
£216K12/200.4 mi18, Vulcan Close, Chatham, Kent ME5 7RR3
£260K01/210.41 mi38, Churchill Avenue, Chatham, Medway ME5 0DL3
£280K05/210.42 mi114, Churchill Avenue, Chatham, Medway ME5 0DH3
£390K03/230.44 mi3, Glamis Close, Chatham, Medway ME5 7QQ3
£235K12/200.45 mi15, Hampshire Close, Chatham, Medway ME5 7SG3
£312K11/200.45 mi34, Limetree Close, Chatham, Medway ME5 0DR3
£380K07/230.45 mi12, Limetree Close, Chatham, Medway ME5 0DR3
£310K02/230.45 mi20, Wordsworth Close, Chatham, Medway ME5 7NU3
£245K11/210.45 mi23, Wordsworth Close, Chatham, Medway ME5 7NU3
£330K04/210.46 mi22, Bronington Close, Chatham, Medway ME5 7RA3
£322.5K03/230.46 mi2, Bronington Close, Chatham, Medway ME5 7RA3
£400K11/220.46 mi6, Bronington Close, Chatham, Medway ME5 7RA3
£300K07/230.46 mi11, Bilsington Close, Chatham, Medway ME5 7NE3
£270K03/230.46 mi3, Bilsington Close, Chatham, Medway ME5 7NE3
£265K04/210.47 mi16, Montgomery Avenue, Chatham, Medway ME5 0HA3
£320K07/230.47 mi12, Montgomery Avenue, Chatham, Medway ME5 0HA3
£349K03/210.49 mi6, Downland Walk, Chatham, Medway ME5 8AF3
£360K03/230.5 mi35, Fallowfield, Chatham, Medway ME5 0DX3
£360K02/230.5 mi5, Chevening Close, Chatham, Medway ME5 7PZ3

Local Rents

17 rents from £675/mo to £2K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,35005/240.04 miHalifax Close Chatham ME53
£1,60001/250.09 mi-3
£1,50005/240.16 miChristie Close , Chatham , Kent 3
£1,40005/240.29 mi-3
£1,52507/240.33 mi-3
£2,00012/240.37 mi-3
£1,35008/240.39 mi-3
£1,35007/240.39 miHeritage Road, Chatham, ME53
£1,65007/240.45 miMountbatten Avenue, Chatham, Kent 3
£1,45005/240.48 mi-3
£67507/240.52 mi-3
£1,50005/240.55 miWayfield Road, Chatham, Kent, ME53
£1,50005/240.56 miChurchill Avenue, Chatham, Kent, ME53
£1,50005/240.56 miChurchill Avenue Chatham ME53
£1,50005/240.56 miChurchill Avenue, Chatham, Kent, ME53
£1,35005/240.6 miWalderslade, ME53
£1,80012/240.62 mi-3

Local Area Statistics

Population in ME5

51,764

Population in Chatham

82,044

Town centre distance

1.02 miles away

Nearest school

0.20 miles away

Nearest train station

1.91 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £230,000

February 19, 2025

Floor Plans

Description

  • Chain Free +
  • Generous Room Sizes +
  • Downstairs W/C +

* CHAIN FREE * INVESTMENT *

Mann bring to the market this generous 3 bedroom family home, with plenty of potential to put your own stamp on it and make it truly yours. This property must be viewed to fully appreciate all it has to offer.
As you enter the property into the wide hallway, you have a convenient downstairs toilet to your left and the living room door just along from this. The kitchen is at the end of the hallway with access into the dining room. The reception rooms have been opened out making it a fantastic social space, with the dining area benefiting from sliding doors into the low-maintenance garden.
Upstairs you will find two double bedrooms and the generous third bedroom as well as the family bathroom.
Situated in a popular area, the property benefits from excellent motorway access including the M2 and M20, as well as high-speed train links to London. There are a number of Good - Excellent Ofsted rated primary and secondary schools within the area, as well as a university campus, making this property and it's location perfect for families of any size. There are a plethora of other amenities in the area too, including supermarkets, gyms, pubs, restaurants, a cinema to name a few.

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

Agent Details

Mann, Chatham

01634 563802

Next Steps?

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