52 The Street, Latchingdon, Chelmsford, CM3 6JR

Description

A Detached Bungalow requiring modernisation with accommodation comprising: Entrance Hall, Living Room, Kitchen, Bedroom (One), Bedroom (Two), Bathroom/WC and Conservatory. Front Forecourt Providing Off-Street Parking, Front Garden and Garden at Rear.

Accommodation

Entrance Hall; Living Room; Kitchen; Bedroom (One); Bedroom (Two); Bathroom/WC; Conservatory.

Location

Situated on The Street, close to the amenities available in Latchingdon Village and travelling facilities including Althorne and North Farmbridge Train Stations.

Tenure / Property Information

Investment Analysis

Land Registry evidence shows detached freehold sales on the same street ranging from £295,000 to £422,700, excluding the materially higher £695,000 sale as an outlier. The closest recent evidence is £295,000 at No. 40 in June 2026 and £322,000 at No. 54 in August 2024. However, the comparables do not provide bedroom count, floor area, condition or confirmation that they are bungalows, so the GDV range is indicative only. A base GDV of £322,000 is used, with low and high scenarios of £295,000 and £370,000 respectively.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a detailed inspection, refurbishment quotation and review of the special conditions. The guide-price rent indication is attractive, but the unknown modernisation cost prevents a reliable BTL, BRRR or flip profit assessment.

Works Required

Modernisation is required, but the evidence does not specify the extent of works. Obtain a full inspection and contractor quotations before budgeting for kitchen, bathroom, finishes, services, heating or other items.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £322,000 base GDV, 75% refinance would be approximately £241,500. The project may have substantial apparent equity after refurbishment, but cash left in cannot be calculated without a verified purchase price, refurbishment budget, acquisition costs and finance assumptions. The £1,500 buyer premium is known, while additional seller fees may apply.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,350 pcm for a two-bedroom property in CM3; it is not an achieved rent. At the £140,000 guide, this indicates £16,200 annual gross rent and a gross yield of approximately 11.57%, before refurbishment, finance, maintenance, voids, management, insurance and tax. A yield on total project cost cannot be established because refurbishment costs and any seller completion fees are unknown.

Flip Analysis

The indicative base GDV is £322,000, supported by nearby same-street sales but weakened by the lack of comparable size, bedroom, bungalow and condition data. A flip surplus cannot be calculated because refurbishment costs, resale costs and any applicable seller fees are not supplied.

Investor Risks & Due Diligence

• The bungalow requires modernisation, but no scope or cost estimate is provided.

• Comparable sales lack bedroom, floor-area, bungalow and condition details, making GDV uncertain.

• The rental figure is an advertised asking rent rather than an achieved rent.

• Additional seller fees may be payable under the special conditions.

• Finance, resale, maintenance, void and management costs are not supplied.

Recommendation

Proceed only subject to a detailed inspection, refurbishment quotation and review of the special conditions. The guide-price rent indication is attractive, but the unknown modernisation cost prevents a reliable BTL, BRRR or flip profit assessment.

Strategy Rating

Analysis Confidence

Same-street completed sales and one local advertised rent are available, but comparable specifications, property condition, floor area, refurbishment costs, finance costs and possible seller fees are incomplete.