2 Bed Flat, Refurb/BRRR, Hitchin, SG5 2ED, £270,000

Old Park Road, Hitchin, SG5 2ED - 4 views - a month ago

Leasehold
Refurb/BRRR
~68 m²
+2 photos

ValuationFair Value

Sold Prices£126K - £825K
Sold Prices/m²£2K/m² - £16.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4K/m²

Value Estimate

£275,400

 

 

End Value (After Refurb)

£370,168

Uplift in Value

+37%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£67,500

Stamp Duty & Legal Fees

£15,700

Refurb Costs

£32,168

Bridging Loan Interest

£7,088

Total Cash In

£124,206

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£370,168

Agent Fees (1%)

£3,702

Bridging Loan

£202,500

Bridging Loan Interest

£7,088

Flip Profit

£39,761

Local Sold Prices

50 sold prices from £126K to £825K, average is £275K. £2K/m² to £16.2K/m², average is £4.3K/m².

PriceDateDistanceAddressBeds 
£212.7K11/200.14 mi29, Wratten Road East, Hitchin, Hertfordshire SG5 2AS2
£280K02/230.14 mi24, Wratten Road East, Hitchin, Hertfordshire SG5 2AS2
£265K06/230.17 miFlat 32, Maples Court, Bedford Road, Hitchin, Hertfordshire SG5 1HF2
£387.5K06/210.19 mi94a, Tilehouse Street, Hitchin, Hertfordshire SG5 2DW2
£250K03/210.22 mi23, Grays Lane, Hitchin, Hertfordshire SG5 2HH2
£295K01/210.31 mi3, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£315K07/230.31 mi26, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£280K10/210.31 mi46, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£270K03/210.31 mi18, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£285K10/200.31 mi40, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£288K07/230.31 mi1, Tudor Court, Hitchin, Hertfordshire SG5 2BE2
£305K11/210.36 mi27, William Ransom Way, Hitchin, Hertfordshire SG5 1QX2
£300K12/200.36 mi30, William Ransom Way, Hitchin, Hertfordshire SG5 1QX2
£230K11/200.38 mi47, Garrison Court, Hitchin, Hertfordshire SG4 9AA2
£200K02/210.38 mi39, Garrison Court, Hitchin, Hertfordshire SG4 9AA2
£292K06/230.4 mi51, Peppermint Road, Hitchin, Hertfordshire SG5 1RY2
£295K01/230.4 mi21, Peppermint Road, Hitchin, Hertfordshire SG5 1RY2
£126K04/230.45 mi20, Capswell Court, Hitchin, Hertfordshire SG5 1ET2
£290K05/210.53 miFlat 30, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£257K04/210.53 miFlat 5, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£285K01/210.53 miFlat 36, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£275K08/210.53 miFlat 6, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£275.6K02/230.53 miFlat 8, Starlings Bridge, Nightingale Road, Hitchin, Hertfordshire SG5 1QW2
£235K06/210.54 miFlat 21, Harrison Court, Harrison Close, Hitchin, Hertfordshire SG4 9SG2
£300K06/210.54 miFlat 9, Harrison Court, Harrison Close, Hitchin, Hertfordshire SG4 9SG2
£291K11/220.54 miFlat 19, Harrison Court, Harrison Close, Hitchin, Hertfordshire SG4 9SG2
£230K07/210.54 mi67, Lancaster Avenue, Hitchin, Hertfordshire SG5 1PA2
£220K04/210.54 mi63, Lancaster Avenue, Hitchin, Hertfordshire SG5 1PA2
£297.3K11/200.56 miApartment 2, Caldicott Court, Harrison Close, Hitchin, Hertfordshire SG4 9SL2
£370K02/230.56 miApartment 5, Caldicott Court, Harrison Close, Hitchin, Hertfordshire SG4 9SL2
£275K03/210.56 miApartment 16, Caldicott Court, Harrison Close, Hitchin, Hertfordshire SG4 9SL2
£825K06/210.59 mi21a, Verulam Road, Hitchin, Hertfordshire SG5 1QE2
£590K03/210.6 mi1a, The Avenue, Hitchin, Hertfordshire SG4 9RG2
£336K10/220.63 miFlat 12, Hazel Court, The Avenue, Hitchin, Hertfordshire SG4 9SJ2
£325K03/230.63 miFlat 4, Hazel Court, The Avenue, Hitchin, Hertfordshire SG4 9SJ2
£240K05/230.67 mi19, The Maples, Hitchin, Hertfordshire SG4 9HA2
£275K02/230.67 mi6, The Maples, Hitchin, Hertfordshire SG4 9HA2
£240K08/210.67 mi11, Westmill Road, Hitchin, Hertfordshire SG5 2SB2
£270K09/220.69 mi9, Wedmore Road, Hitchin, Hertfordshire SG4 9JH2
£250K05/230.69 mi13, Frank Young Court, Hitchin, Hertfordshire SG5 2US2
£255K05/230.76 miFlat 59, Sanders Place, Walsworth Road, Hitchin, Hertfordshire SG4 9SY2
£267K06/230.76 miFlat 24, Sanders Place, Walsworth Road, Hitchin, Hertfordshire SG4 9SY2
£225K05/210.76 mi59, Sunnyside Road, Hitchin, Hertfordshire SG4 9JQ2
£195K11/210.78 miFirst Floor Flat, 49, Mattocke Road, Hitchin, Hertfordshire SG5 2PB2
£225K12/220.78 mi62, Mattocke Road, Hitchin, Hertfordshire SG5 2PB2
£218K03/210.78 mi63, Mattocke Road, Hitchin, Hertfordshire SG5 2PB2
£305.5K11/210.85 mi6, King Georges Close, Hitchin, Hertfordshire SG5 2UW2
£220K08/230.85 mi4, King Georges Close, Hitchin, Hertfordshire SG5 2UW2
£290K07/210.85 mi16, King Georges Close, Hitchin, Hertfordshire SG5 2UW2
£207K11/200.92 miFlat 36, Sharps Court, Cooks Way, Hitchin, Hertfordshire SG4 0JG2

Local Rents

50 rents from £900/mo to £1.7K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,50008/240.05 miPaynes Park, HITCHIN, SG52
£1,65002/240.06 mi-2
£1,70012/240.07 mi-2
£1,70002/250.07 mi-2
£1,20008/240.09 miKempe Mews, Tilehouse Street, Hitchin, SG52
£1,30008/240.09 miTilehouse Street, Hitchin, SG52
£1,40008/240.11 miPaynes Park, Hitchin, SG52
£1,50012/240.11 miPaynes Park, Hitchin, SG52
£1,25008/240.13 miBucklersbury, Hitchin, SG52
£1,37512/240.13 miCoopers Yard, Paynes Park, Hitchin2
£1,40012/240.13 miCoopers Yard, Paynes Park, Hitchin2
£1,20008/240.14 miTilehouse Street, Hitchin, SG52
£1,10008/240.14 miPark Close, Wratten Road East, Hitchin2
£1,30008/240.15 miBancroft, Hitchin, SG52
£1,10008/240.19 miChurchyard, Hitchin, SG52
£1,40008/240.22 miGrays Lane, Hitchin, SG52
£1,69512/240.26 mi-2
£1,60012/240.26 miBedford Street, Hertfordshire, Hitchin, SG52
£1,39502/250.32 mi-2
£1,37508/240.33 miQueen Street, Hitchin, SG42
£1,25008/240.38 miGarrison Court, Hitchin, SG42
£1,37512/240.39 miWhinbush Road, HITCHIN2
£1,25008/240.39 miBancroft, Hitchin, SG52
£1,39508/240.39 miWhinbush Road, Hitchin, SG52
£1,40012/240.4 mi-2
£1,30008/240.4 miPeppermint Road, HITCHIN, SG52
£1,20012/240.4 mi-2
£1,20012/240.4 miVictoria Road, Hitchin, SG52
£1,40012/240.4 miPeppermint Road, HITCHIN2
£1,50012/240.4 miPeppermint Road, SG52
£1,50008/240.4 miSt Andrews Place, Hitchin, SG42
£1,45012/240.41 miPeppermint Road, Hitchin2
£1,20008/240.47 miFishponds Road, Hitchin, SG52
£1,50012/240.49 miSymonds Road, Hitchin, SG52
£1,30001/250.51 mi-2
£1,07503/250.52 mi-2
£1,20012/240.52 miChestnut Court, Bedford Road, Hitchin2
£1,35003/250.52 mi-2
£1,16502/240.52 mi-2
£1,20002/240.52 mi-2
£1,29512/240.53 miChestnut Court, Hitchin, SG52
£1,45002/250.53 mi-2
£1,00008/240.54 miLancaster Avenue, Hitchin, SG52
£1,39508/240.6 miVerulam Road, Hitchin, SG52
£1,29508/240.6 mi-2
£1,50008/240.6 miNightingale Road2
£90008/240.6 miRedhill Road, HITCHIN2
£1,20008/240.62 miLatchmore Close, Hitchin, Hitchin, SG42
£1,30008/240.62 mi-2
£1,70012/240.62 miBearton Road, Hitchin, SG5 1UE2

Local Area Statistics

Population in SG5

31,306

Population in Hitchin

60,216

Town centre distance

0.47 miles away

Nearest school

0.20 miles away

Nearest train station

0.91 miles away

 

 

Rental demand

Landlord's market

Sales demand

Balanced market

Capital growth (5yrs)

+13%

Property History

Listed for £270,000

February 21, 2025

Floor Plans

Description

  • Guide Price £270k to £290k. First-Time Buyer Appeal – A perfect start on the property ladder with no stamp duty for eligible buyers +
  • Move-In Ready Condition – No need for renovations; simply bring your furniture and settle in +
  • Spacious Ground-Floor Living – Enjoy the convenience of single-level living with generous room sizes throughout +
  • Modern Fitted Kitchen – Cook with ease using the built-in oven and hob, with plenty of space for your essentials +
  • Flexible Living Room Space – Arrange your furniture to suit your lifestyle, whether relaxing or entertaining +
  • Two Versatile Bedrooms – A double bedroom with built in wardrobes and single room ideal for guests, an office, or a nursery +
  • Convenient Bathroom with Shower Over Bath – Quick mornings or relaxed evening soaks; options to suit your lifestyle +
  • Private Allocated Parking – Always have a space waiting for you, right outside +
  • Great for Investors – Achieve a strong 5% rental yield with an estimated income of £15,000 per year +
  • Great location - just a 5 minute walk to Hitchin town centre. Great road links - short drive to A1(M). Just 20 mins to London Luton Airport +

Guide Price £270k to £290k.  Great Ground-Floor Flat For First-Time Buyers, Downsizers, And Investors For That Price?  Don't miss out to someone else!  This spacious ground-floor apartment, with no stamp duty for eligible first-time buyers, offers an excellent opportunity, whether you’re starting out, downsizing, or investing.  Investors will appreciate there is no need for any upfront work, ensuring quick occupancy - with an expected annual income of £15,000, providing a good return from the start.  Downsizers, too, will find it’s got just the right amount of space and ease of living.  There is also a good length of lease remaining. With your own entrance from the carpark, directly into the living space you do not need to worry about carrying heavy shopping or navigating internal hallways to get in. An open plan living space is a generous size, giving you the freedom to set it up to suit your lifestyle, whether that’s a comfortable space for relaxation or a welcoming spot to gather with friends. There is plenty of space for a large sofa and other furniture - just add soft furnishings and décor to your taste. The hard flooring not only looks great but is easy to maintain. The kitchen is fitted with modern white glossy units and contrasting worktops, a built-in oven and hob, integrated fridge / freeezer and room for everything you need, making it easy to enjoy home-cooked meals or quick bites on busy days. When it’s time relax and re-charge your batteries, you’ll find two bedrooms - A good size double with built in wardrobes and a single bedroom - perfect for guests, an office space if you’re working from home, or perhaps a nursery. You'll love the bathroom with a shower over the bath - ready for both quick invigorating mornings and relaxing soaks in the evenings after a hard day. Got a car? Parking is sorted, with private allocated parking Located in a well-connected part of Hitchin, this flat benefits from easy access to open green spaces, including Bancroft Recreation Ground and Oughtonhead Common. Whether it’s a morning jog, a weekend stroll, or a spot to relax, nature is always close by. If you’re ready to move, this flat is ready for you!  Bring your furniture and start settling in. | ADDITIONAL INFORMATION Council Tax Band - B EPC Rating - E Lease Length -  118 years remaining Ground Rent - £300.00 P.A Service Charge - £900.00 every six months Electric heating | GROUND FLOOR Open plan living space: 20' 8" MAX x 14' 1" (6.30m x 4.30m)  Bedroom One: Approx 14' 7" x 8' 6" (4.45m x 2.60m)  Bedroom Two: 11' 2" MAX x 7' 3" (3.40m x 2.20m)  Bathroom: Approx   7' 3" x 5' 11" (2.2m x 1.8m)             | OUTSIDE Allocated off road parking space

Agent Details

Leysbrook, Letchworth

01462 416614

Next Steps?

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