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Chapel Street, Newhaven

South East

£325,000
Listed on 28/09/2024

Property Details

Bedrooms
2
Type
Semi-detached house
Area
926 sqft

Description

This charming semi-detached Georgian house offers significant renovation and investment potential, nestled in a serene cul-de-sac just a stone's throw from Newhaven Harbour and the town center. The property spans three floors and features two spacious bedrooms, making it a promising candidate for both personal residence and investment. Upon entering, you are welcomed by an original entrance hall that leads to a through sitting room. This living space boasts traditional sash windows and a classic cast iron fireplace, creating a warm atmosphere with plenty of natural light. The adjacent fitted kitchen is functional but may benefit from updating to enhance its appeal further. The second floor hosts a generously sized master bedroom with double-aspect windows facing south and west, offering delightful views of the harbour. Exposed beams add character, while the sloping ceilings provide unique architectural charm. A second double bedroom on the first floor also features dual aspects towards both Chapel Street and the harbour, complemented by original fireplace details. A modern bathroom on this level is equipped with essential amenities; however, there is scope for renovation that could elevate its style and functionality significantly. The property's outdoor space is equally compelling. It includes a large rear garden that opens to the south, potentially allowing for off-street parking with appropriate planning permission. In addition to green space ideal for outdoor enjoyment, there’s a substantial studio outbuilding equipped with water and power – an excellent opportunity for those looking to establish a home office or creative workspace. Location-wise, this property benefits from being close to local amenities including supermarkets and Newhaven train station which provides efficient transport links to key areas such as Lewes and Brighton. The nearby coastal paths offer scenic walks along the harbour and seafront. Overall, this property presents an attractive opportunity for those willing to invest in renovations while benefiting from its prime location near essential services and recreational areas. With thoughtful updates, it could transform into an exceptionally desirable home or rental property in this thriving community.

Investment Analysis

(BN9 area)

Above Market Value

This property is priced +7.9% above area average per sq ft

+7.9%
This Property
£351/sq ft
Area Average
£325/sq ft
Avg Rent (weekly)
£234
Avg Yield
3.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £60,000
Target Value
£331,351
10% above area average per sq ft
Potential ROI
-13.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
11
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (BN9)

Area prices are stable by +1.7% over the last 12 months
3 year growth: -0.3%
5 year growth: 19.7%
Investment Disclaimer: Analysis based on BN9 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

Chapel Street, Newhaven
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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
£1,191
Based on a loan of £243,750 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