2 Bed Flat, Potential PLO/LOA, Eastleigh, SO50 4BW, £141,000

57 Alexander Square, Eastleigh, Hampshire, SO50 4BW - 6 views - 3 years ago

Under Offer
Leasehold
Auction
Negative Equity
ROI: 13%
~62 m²
+10 photos

ValuationUndervalued

Sold Prices£92.5K - £250K
Sold Prices/m²£1.4K/m² - £3.5K/m²

 

 

Square Metres

~62.40 m²
Price/m²£2.3K/m²

Value Estimate

£171,352
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£35,250

Stamp Duty & Legal Fees

£5,430

Total Cash In

£40,680

 

 

Cash Out

 

Rent Range

£895 - £1,350

Rent Estimate

£1,119

Running Costs/mo

£684

Cashflow/mo

£435

Cashflow/yr

£5,215

ROI

13%

Gross Yield

10%

Local Sold Prices

50 sold prices from £92.5K to £250K, average is £185K. £1.4K/m² to £3.5K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£168.5K03/230.01 mi69, Alexander Square, Eastleigh, Hampshire SO50 4BW2
£185K03/230.04 mi160, Alexander Square, Eastleigh, Hampshire SO50 4BX2
£200K07/230.09 mi134, Twyford Road, Eastleigh, Hampshire SO50 4HN2
£175K05/210.22 miFlat 11, Rossetti Court, Byron Road, Eastleigh, Hampshire SO50 4FL2
£180K01/210.22 miFlat 18, Rossetti Court, Byron Road, Eastleigh, Hampshire SO50 4FL2
£190K05/230.22 miFlat 35, Rossetti Court, Byron Road, Eastleigh, Hampshire SO50 4FL2
£185K03/230.22 miFlat 19, Rossetti Court, Byron Road, Eastleigh, Hampshire SO50 4FL2
£165K01/210.29 mi5, Salisbury Court, Eastleigh, Hampshire SO50 9BP2
£167.5K06/230.29 mi5, Salisbury Court, Eastleigh, Hampshire SO50 9BP2
£175K07/210.43 mi23, Selwyn Gardens, Boyatt Wood, Eastleigh, Hampshire SO50 4PX2
£218K05/210.49 mi37, Asford Grove, Eastleigh, Hampshire SO50 6BG2
£242K06/230.49 mi36, Asford Grove, Bishopstoke, Eastleigh, Hampshire SO50 6BG2
£190K02/210.5 miFlat 4, Bowman Lodge, Shakespeare Road, Eastleigh, Hampshire SO50 4QR2
£200K07/230.5 miFlat 4, Bowman Lodge, Shakespeare Road, Eastleigh, Hampshire SO50 4QR2
£185K02/230.56 miFlat 4, Whitehaugh Court, Church Road, Bishopstoke, Eastleigh, Hampshire SO50 6DF2
£205K11/210.56 miFlat 2, Whitehaugh Court, Church Road, Eastleigh, Hampshire SO50 6DF2
£220K03/230.61 mi118, Loveridge Way, Eastleigh, Hampshire SO50 9PW2
£180K11/200.61 mi80, Loveridge Way, Eastleigh, Hampshire SO50 9PW2
£182K04/210.61 mi80, Loveridge Way, Eastleigh, Hampshire SO50 9PW2
£200K12/220.61 mi94, Loveridge Way, Eastleigh, Hampshire SO50 9PW2
£235K02/210.63 miFlat 16, Itchen Grange, Church Road, Eastleigh, Hampshire SO50 6QQ2
£250K10/230.63 miFlat 8, Itchen Grange, Church Road, Bishopstoke, Eastleigh, Hampshire SO50 6QQ2
£207K02/210.65 mi69, Causton Gardens, Eastleigh, Hampshire SO50 9PJ2
£150K06/230.65 miApartment 4, Hanns Mews, Hanns Way, Eastleigh, Hampshire SO50 5NZ2
£190K03/210.65 mi34, Causton Gardens, Eastleigh, Hampshire SO50 9PJ2
£92.5K09/210.65 mi53, Causton Gardens, Eastleigh, Hampshire SO50 9PJ2
£175K02/210.65 mi30, Causton Gardens, Eastleigh, Hampshire SO50 9PJ2
£163K09/210.72 mi1a, Sedgwick Road, Bishopstoke, Eastleigh, Hampshire SO50 6FJ2
£190K03/210.74 miFlat 3, Osborne Mews, Allbrook Hill, Eastleigh, Hampshire SO50 4JQ2
£165K01/210.75 mi57, Benny Hill Close, Eastleigh, Hampshire SO50 5GG2
£185K02/230.75 mi37, Benny Hill Close, Eastleigh, Hampshire SO50 5GG2
£170K03/230.75 mi43, Benny Hill Close, Eastleigh, Hampshire SO50 5GG2
£180K06/230.78 mi10, Pluto Road, Eastleigh, Hampshire SO50 5GD2
£175K03/210.79 mi16, William Panter Court, Eastleigh, Hampshire SO50 5GL2
£175K06/210.81 mi53, Drum Road, Eastleigh, Hampshire SO50 5ST2
£165K04/210.81 mi5, Drum Road, Eastleigh, Hampshire SO50 5ST2
£170K03/210.82 mi67, Stranding Street, Eastleigh, Hampshire SO50 5GR2
£195K02/230.82 mi73, Stranding Street, Eastleigh, Hampshire SO50 5GR2
£210K12/220.84 mi29, Blenheim Road, Eastleigh, Hampshire SO50 5JU2
£202K01/210.85 mi43, Blenheim Road, Eastleigh, Hampshire SO50 5JU2
£180K09/210.85 mi17, Bright Wire Crescent, Eastleigh, Hampshire SO50 5SQ2
£97.5K05/230.86 mi41, Bright Wire Crescent, Eastleigh, Hampshire SO50 5SQ2
£194K03/210.86 mi54, Bright Wire Crescent, Eastleigh, Hampshire SO50 5SQ2
£205K11/200.86 mi52, Bright Wire Crescent, Eastleigh, Hampshire SO50 5SQ2
£205K03/210.86 mi1a, Bright Wire Crescent, Eastleigh, Hampshire SO50 5SQ2
£195K02/230.88 mi76, Tinning Way, Eastleigh, Hampshire SO50 9QH2
£175K11/210.92 mi66, Hoddinott Road, Eastleigh, Hampshire SO50 5SN2
£197K03/230.92 mi52, Hoddinott Road, Eastleigh, Hampshire SO50 5SN2
£235K09/220.93 mi18, Milford Gardens, Chandler's Ford, Eastleigh, Hampshire SO53 2HY2
£207.5K04/210.93 mi7, Milford Gardens, Chandler's Ford, Eastleigh, Hampshire SO53 2HY2

Local Rents

16 rents from £895/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£89511/240.12 mi-2
£1,25009/240.22 mi-2
£1,12502/250.23 mi-2
£95010/240.28 mi-2
£1,35012/240.3 mi-2
£1,10011/240.38 mi-2
£1,15009/240.43 miSelwyn Gardens, EASTLEIGH2
£1,10004/250.44 mi-2
£1,10009/240.49 miArchers Road, Eastleigh2
£1,15012/240.52 miArchers Road SILVER SUB, Eastleigh, SO502
£1,17502/240.53 mi-2
£1,17501/250.53 mi-2
£1,15012/240.55 miCrestwood View, Eastleigh, SO502
£1,15009/240.55 mi-2
£1,15012/240.55 miBoyatt Wood2
£1,19512/240.56 miChurch Road, Eastleigh2

Local Area Statistics

Population in SO50

46,318

Population in Eastleigh

78,741

Town centre distance

0.15 miles away

Nearest school

0.30 miles away

Nearest train station

0.54 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Balanced market

Capital growth (5yrs)

+12%

Property History

Listed for £141,000

-26%

October 4, 2022

Sold for £177,235

2008

Floor Plans

Description

  • Buy-It-Now Option Available +
  • Being Sold By GOTO Online Auction +
  • Buyer’S Fees Apply +
  • Spacious First Floor Apartment +
  • Good Sized 16Ft Living Room +
  • Well Fitted Open-Plan Kitchen +
  • Allocated Parking & Visitor Parking +
  • No Forward Chain +
  • Close To The Town Centre & Railway Station +
  • Early Viewing Is Essential! +

The Property
Purplebricks, Eastleigh, are delighted to bring to the market this modern and spacious first floor apartment, that is offered for sale with no forward chain. The accommodation briefly comprises of an entrance hallway, two double bedrooms, a modern fitted bathroom, a spacious living room and a modern fitted kitchen. Externally the property further benefits from a communal garden, as well as an allocated parking space and ample visitor parking.
The apartment is ideally placed for access to local shops nearby in Eastleigh, and the mainline railway station.
The nearby M3 & M27 motorways provide access to regional cities whilst Southampton Parkway railway station provides a fast route to London.
We highly recommend an early viewing to avoid disappointment!

Material information: The information above has been provided by the vendor, agent and GOTO Group and may not be accurate. Please refer to the property’s Legal Pack. (You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding. It may not yet include everything you need to know so please make sure you do your own due diligence as well.

Property Description
Being Sold by GOTO Online Auction

Starting Bids from £141,000

Buy it now option available

Please call or visit Purplebricks Online Auctions for more information.

This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract has been issued by the vendors solicitor. Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer with be required to put down a non-refundable reservation fee. The fee will be a fixed fee including the Vat, this secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.

Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.

Lease info: 155 years from 1 May 2008

To book a viewing visit Purplebricks

General Information
Auctioneer's Comments

This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer but will be given 56 working days in which to complete the transaction, from the date the Draft Contract is issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be sort.

The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Info Pack which can be downloaded for free from our website or requested from our Auction Department.

Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer’s Premium of 3.6% of the purchase price including VAT and a Legal Pack fee of £372 including VAT (this is subject to a minimum amount of £6,600 including VAT and a Legal Pack Fee of £372 including VAT). This secures the transaction and takes the property off the market.

Buyer's Administration Charge
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £372.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
Buyer Fees
• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland.

Property ownership information

Ground rent review period: No review period

Service charge review period: No review period

Lease end date: 28/04/2163

Disclaimer for virtual viewings

Some or all information pertaining to this property may have been provided solely by the vendor, and although we always make every effort to verify the information provided to us, we strongly advise you to make further enquiries before continuing. If you book a viewing or make an offer on a property that has had its valuation conducted virtually, you are doing so under the knowledge that this information may have been provided solely by the vendor, and that we may not have been able to access the premises to confirm the information or test any equipment. We therefore strongly advise you to make further enquiries before completing your purchase of the property to ensure you are happy with all the information provided.

Agent Details

Purplebricks, covering Southampton

020 3909 9760

Next Steps?

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