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Starr Road, Henham, Essex, CM22 - Image 1
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Starr Road, Henham, Essex, CM22

East of England

£700,000
Listed on 02/07/2024

Property Details

Bedrooms
3
Type
Detached house
Area
1722 sqft

Description

This Grade II Listed thatched cottage, known as Starr House, dates back to the 16th century and offers a unique opportunity for renovation and investment. The property features three bedrooms located on the first floor, complemented by essential living spaces on the ground floor, including a kitchen/breakfast room, dining room, sitting room, and a bathroom. Significantly, planning permission has been granted for the demolition of an outdated garage building at the rear of the property. This allows for the construction of two new single-storey dwellings, each featuring two bedrooms and a study, along with a kitchen and living area. These additions not only enhance the site's value but also create additional rental or resale opportunities. The approved plans include designated parking for both new homes as well as Starr House. The recent diversion of a footpath previously crossing the property has opened up more of the plot for potential development or landscaping, making it an even more attractive investment prospect. Located in Henham—a charming village in North Essex—Starr House is within close proximity to essential amenities such as a primary school, church, public house, village shop, and Post Office run by local volunteers. Recreational facilities like a tennis club and gym further enrich community life. Just 7 miles away lies Bishop’s Stortford, offering extensive social and educational resources along with convenient access to the M11 motorway connecting to London and beyond. The mainline railway station at Bishop's Stortford provides regular services to London Liverpool Street; however, Elsenham station is closer for those residing in Henham. With its historical character and ample development potential, Starr House presents an exciting project for those looking to invest in real estate while making their mark on this picturesque village setting.

Investment Analysis

(CM22 area)

Below Market Value

This property is priced -1.8% below area average per sq ft

-1.8%
Potential saving
This Property
£407/sq ft
Area Average
£414/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£100,000 - £150,000
Target Value
£784,483
10% above area average per sq ft
Potential ROI
-7.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
12
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (CM22)

Area prices are falling by +4.0% over the last 12 months
3 year growth: -6.0%
5 year growth: 5.3%
Investment Disclaimer: Analysis based on CM22 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Starr Road, Henham, Essex, CM22
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,564
Based on a loan of £525,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE