# 2 bedroom flat for sale (CT9 4GN) ## Property Details | Key | Value | |-----|-------| | Address | Bayer Street, Margate, Kent, CT9, CT9 4GN | | Price | £60,000 | | Bedrooms | 2 | | Bathrooms | 1 | | Council tax | B | | Last sold | £75,250 | ## Description Modern Two-Bedroom Second Floor Apartment – Chain Free | 35% Shared Ownership with Orbit Homes Offered chain free, this well-presented two-bedroom purpose-built second floor apartment is an excellent opportunity for first-time buyers or anyone seeking affordable, modern living. The property features two generously sized double bedrooms, including a principal bedroom. A modern family bathroom and a bright open-plan kitchen, dining, and living area provide a comfortable and functional living space, with direct access to a private balcony. Additional benefits include a private parking space and a secure entry system. The apartment is offered on a 35% shared ownership basis with Orbit Homes, with the remaining 65% share subject to rent and service charge, totalling £420.70 per month. Identification checks If an offer is accepted on a property marketed by Miles & Barr, all purchasers are required to complete ID verification checks. This is a legal obligation under Anti-Money Laundering Regulations. We use a specialist third-party company to carry out these checks. The fee is £60 (including VAT) per person or £120 (including VAT) if purchasing under a company name, payable once the offer is agreed and before the sales memorandum is issued. Please note that this charge is non-refundable Location Margate is a fantastic seaside town and contains the areas of Cliftonville, Garlinge, Palm Bay and Westbrook. The energy surrounding Margate is excellent, it holds the likes of a world class Art Gallery, the UK's original pleasure park 'Dreamland', fast Rail links into London and of course not forgetting the stunning sandy beaches and sparkling bays. You are within a 10 minute drive to the neighbouring towns which are Broadstairs, Ramsgate and Birchington. There are also good road links to London via the A299 Thanet Way and M2 Motorway. ## Property Photos - ![Picture 1](/listings/photos/171940958/1054624) - Picture 1 - ![Picture 2](/listings/photos/171940958/1054625) - Picture 2 - ![Picture 3](/listings/photos/171940958/1054626) - Picture 3 - ![Picture 4](/listings/photos/171940958/1054628) - Picture 4 - ![Picture 5](/listings/photos/171940958/1054630) - Picture 5 - ![Picture 6](/listings/photos/171940958/1054633) - Picture 6 - ![Picture 7](/listings/photos/171940958/1054634) - Picture 7 - ![Picture 8](/listings/photos/171940958/1054635) - Picture 8 - ![Picture 9](/listings/photos/171940958/1054637) - Picture 9 - ![Picture 10](/listings/photos/171940958/1054639) - Picture 10 ## Floorplans - ![Picture 11](/listings/photos/171940958/1054641) - Picture 11 ## EPC Graphs - ![Picture 12](/listings/photos/171940958/1054646) - Picture 12 ## Sold Comparables *Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.* | Address | Price | Date | Type | |---------|-------|------|------| | 26 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £153,000 | 19/09/2024 | Flat | | [Same street] 1 FLAT 3 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £75,250 | 17/11/2023 | Flat | | [Same street] 1 FLAT 6 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £75,250 | 10/11/2023 | Flat | | [Same street] 1 FLAT 2 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £105,000 | 27/10/2023 | Flat | | [Same street] 1 FLAT 4 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £161,250 | 19/10/2023 | Flat | | 3 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £168,000 | 17/10/2023 | Flat | | [Same street] 2 FLAT 6 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £75,250 | 28/07/2023 | Flat | | [Same street] 3 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £98,000 | 20/07/2023 | Flat | | [Same street] 2 FLAT 5 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £86,000 | 14/07/2023 | Flat | | [Same street] 1 FLAT 1 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £120,000 | 13/07/2023 | Flat | | [Same street] 2 FLAT 3 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £96,750 | 30/06/2023 | Flat | | [Same street] 2 FLAT 2 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £80,000 | 02/06/2023 | Flat | | [Same street] 4 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £104,000 | 11/05/2023 | Flat | | [Same street] 10 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £114,000 | 31/03/2023 | Terraced | | [Same street] 7 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £157,500 | 31/03/2023 | Terraced | | [Same street] 8 BAYER STREET, MARGATE, THANET, KENT, CT9 4GN | £156,750 | 31/03/2023 | Terraced | | 36 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £175,000 | 08/12/2022 | Flat | | 3 FLAT 6 CASTLE DRIVE, MARGATE, THANET, KENT, CT9 4FN | £187,500 | 08/11/2022 | Flat | | 3 FLAT 5 CASTLE DRIVE, MARGATE, THANET, KENT, CT9 4FN | £183,000 | 30/09/2022 | Flat | | 2 MANSTON WAY, MARGATE, THANET, KENT, CT9 4FH | £260,000 | 26/08/2022 | Flat | | 1 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £170,000 | 19/04/2022 | Flat | | 8 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £175,000 | 13/04/2022 | Flat | | 50 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £160,000 | 28/02/2022 | Flat | | 17 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £164,000 | 26/11/2021 | Flat | | 3 FLAT 11 CASTLE DRIVE, MARGATE, THANET, KENT, CT9 4FN | £168,000 | 10/09/2021 | Flat | | 36 WHERRY CLOSE, MARGATE, THANET, KENT, CT9 4BP | £158,000 | 06/09/2021 | Flat | **Street average:** £107,500 (14 sales) **Area average:** £176,792 (12 sales) ## Price vs local average *Outcode + property type (HousePrices, last 2 years).* - **Local average:** £171,426 (55 Flat, CT9, 2024–2026) - **Deviation:** -65% ## Rental Range *ONS Price Index of Private Rents (South East). Low / Realistic / Optimistic = conservative / average / best case.* - **Low:** £1,276/mo - **Realistic:** £1,418/mo - **Optimistic:** £1,560/mo ## LHA (Local Housing Allowance) *VOA 30th percentile rent floor for Thanet (Apr 2025 – Mar 2026).* - **LHA floor (this property size):** £748/mo ## Rental Comparables *Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.* | Title | Rent | Beds | Distance | As seen on | |------|------|------|------|------| | 2 Bed Maisonette, Ramsgate Road, CT9 | £1,125/mo | 2 | 0.99 miles | OpenRent | **Average rent: £1,125/mo (1 listing)** ## 1% Rule - **Rent ratio:** 1.88% (strong) - **Max investor price (0.8%):** £140,625 - **Target investor price (1%):** £112,500 *Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.* ## Rent-driven metrics *Based on OpenRent comparables (median £1,125/mo).* - **Gross yield:** 22.5% - **Cost-to-rent:** 4.4× - **Monthly cashflow:** £751/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** 51.8% *Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).* ## Capital growth trend *Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.* - **5y growth:** -19.6% - **10y growth:** 28.6% ## House Price Index (HM Land Registry) *Official index for South East; Flats and maisonettes series; as of April 2026.* - **1y growth (index):** -0.7% - **5y growth (index):** 1.1% - **10y growth (index):** 12.2% ## Flood risk - **Zone:** 1 - **Risk:** Low - **Source:** Job (default Low) [Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)