Lizaveta Herman
A bay-fronted terrace in Dartford with a long garden and a brick outbuilding at the end. The asking price is £350,000 for 88 m².
Our model shows a 5.6% gross yield and a 6.9% IRR. Inside, you find polystyrene ceiling tiles, a coloured bathroom suite and an old gas heater in the dining room.
Property Overview
For SaleTorquity rates appeal at 3.8 out of 10 and condition as poor. Every room needs work, and the garden and outbuilding have run wild. The bay front, conservatory and plot length hold the score up.
On these numbers the house barely pays its way in year one. Cash-on-cash reaches 2.54% and the cap rate 4.09%. DSCR sits at 1.45x, so the rent covers the mortgage with some margin.
Rent Estimates
Based on 10 comparablesOur model puts rent at £1,626 a month, or £18 per m². The range runs from £1,355 to £1,896. The comps sit 894 m away on average, further than in our London deals.
The estimate looks low. All ten comps let for £22 to £34 per m². Gordon Road, a smaller three-bed of 69 m², already fetches £1,600.
The model prices the house as it stands. Tenants pay less for worn carpets and a coloured bathroom suite, and the gap shows here.
Financial Projection
10-year holdOver 10 years, the model shows £165,103 in profit and a 2.12x return on your money. The 9.61% IRR includes the refurbishment. Without it, the IRR falls to 6.94%.
That gap tells the story of this house. If you let it as it is, the numbers stay thin. The refurbishment turns it into a workable buy-to-let.
Comparable Properties
10 foundThe model found ten rentals, with an average match of 33%. Two developments supply six of them: The Parklands on Truman Way and 57-59 Lowfield Street.
Three-beds of 87 to 100 m² let for £2,225 to £2,760. Only Park Road, a 67 m² two-bed, sits within 400 m. It lets for £1,600.
None of the comps offers a period terrace with a long garden. A family tenant may pay more for the plot, and the model cannot price that.
Renovation Analysis
11 rooms scoredThe model gives this house 8 out of 10 for upside. A £25,800 refurbishment could lift rent by 42%, to about £2,310 a month.
Before
After
Kitchen — Replace dated dark wood cabinetry with modern grey shaker-style units (£7,500)
Our renovation model scores this property 8/10 for upside, projecting a 42% rent uplift after refurbishment.
- KitchenReplace dated dark wood cabinetry with modern grey shaker-style units£7,500
- KitchenInstall white quartz-effect laminate countertops£1,300
- Primary BedroomRemove polystyrene ceiling tiles and plaster-finish ceiling£1,100
- BathroomReplace dated colored bathtub and toilet with modern white porcelain suite£3,000
- Dining RoomRemove dated gas heater and repair wall surface£600
- Living RoomStrip textured wallpaper and repaint in neutral off-white£600
- Bedroom 2 · Bedroom 3 · Dining Room · Hallway · Living Room · Primary BedroomReplace worn carpet with neutral thick-pile carpet throughout£5,000
- HallwayRemove surface trunking and replace plain stair spindles£900
- Private GardenClear overgrown lawn and repair brick boundary walls£1,800
- Storage RoomReplace dilapidated storage room roof and repaint concrete blocks£3,500
- ConservatoryConceal exposed wiring and paint conservatory timber framing£500
Start with safety. Removing the polystyrene tiles costs £1,100 and taking out the gas heater £600. The kitchen takes £8,800, carpets £5,000 and the bathroom suite £3,000.
The outbuilding roof needs £3,500. The model sees developement potential in it, so ask Dartford Borough Council what planning allows before you spend.
This uplift looks realistic. £2,310 means £26 per m², inside the range of the local comps. The extra £680 a month pays back the refurb in just over three years.
Strengths & Weaknesses
- Significant garden length
- Large brick outbuilding with development potential
- Traditional bay-fronted layout
- Includes a conservatory for additional living space
- Internally dated throughout needing total modernization
- Overgrown and unmaintained garden areas
- Dilapidated state of the outbuilding
- Presence of polystyrene ceiling tiles which are a fire hazard
As a buy-to-let, it works only as a refurb project. At the asking price, a 2.54% cash-on-cash leaves little room for a void or a rate rise. The poor condition gives you grounds to negotiate.
Ask for the current EPC rating and the heating type before you offer. Rented homes in England need band C by 1 October 2030.
Hidden gems
- A long garden and a large brick outbuilding
- A bay-fronted layout with a conservatory
- A rent estimate below every local comp per m²
- A refurb uplift that stays inside the comp range
Pitfalls
- Poor condition in every room
- Polystyrene ceiling tiles, a fire hazard until removed
- 2.54% cash-on-cash before the refurb
- Comps 894 m away on average, six of them in two developments
- Outbuilding planning and the EPC rating need checking
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