2 Bed Bungalow, Refurb/BRRR, Ross-on-Wye, HR9 6DQ, £210,000

Ross-On-Wye, Whitchurch, Ross-On-Wye, HR9 6DQ - 1 views - 2 years ago

Refurb/BRRR
ROI: 9%
~68 m²
+4 photos

ValuationFair Value

Sold Prices£325K - £400K
Sold Prices/m²£4.2K/m² - £4.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.1K/m²

Value Estimate

£212,100

 

 

End Value (After Refurb)

£240,853

Uplift in Value

+15%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£52,500

Stamp Duty & Legal Fees

£7,500

Refurb Costs

£27,600

Bridging Loan Interest

£5,513

Total Cash In

£94,863

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£240,853

Mortgage (After Refinance)

£180,640

Mortgage LTV

75%

Cash Released

£23,140

Cash Left In

£71,723

Equity

£60,213

Rent Range

£675 - £3,000

Rent Estimate

£1,823

Running Costs/mo

£1,137

Cashflow/mo

£686

Cashflow/yr

£8,229

ROI

9%

Gross Yield

10%

Local Sold Prices

3 sold prices from £325K to £400K, average is £390K.

PriceDateDistanceAddressBeds 
£400K10/222.83 miGreenway Cottage, Stowfield Road, Lydbrook, Gloucestershire GL17 9NJ2
£390K11/222.88 miPelham Cottage, Wheatstone Lane, Lydbrook, Gloucestershire GL17 9DP2
£325K11/212.94 miMagnolia Cottage, Hillersland Lane, Coleford, Gloucestershire GL16 7NU2

Local Rents

14 rents from £675/mo to £3K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£95009/240.17 miWhitchurch, Ross-on-Wye3
£2,80012/240.27 mi-2
£2,60001/250.27 mi-2
£1,05009/240.46 miGilpin Way 2
£85010/240.62 mi-1
£3,00009/240.62 miWhitchurch, Ross-On-Wye, HR95
£3,00012/240.62 mi-5
£2,70010/240.63 mi-5
£1,05009/241.07 miWye Rapids Cottages, Symonds Yat, Ross-on-Wye2
£1,39509/241.46 miBivia Meadow, Goodrich, Ross-on-Wye, Herefordshire, HR93
£1,70009/241.72 miMorningside, Llangrove, Herefordshire, HR9 6EZ5
£67509/242.32 miPencraig, Ross-on-Wye, HR91
£1,65004/242.35 miEnglish Bicknor, Coleford, Gloucestershire3
£2,10006/242.46 miBroom Farm, Welsh Newton, Monmouth, Herefordshire5

Local Area Statistics

Population in hr9

20,936

Town centre distance

4.82 miles away

Nearest school

0.20 miles away

Nearest train station

11.15 miles away

 

 

Rental growth (12m)

+61%

Sales demand

Buyer's market

Capital growth (5yrs)

+26%

Property History

Listed for £210,000

March 21, 2023

Description

  • Detached bungalow +
  • Two bedrooms +
  • Garage & Garden +
  • Popular location +
  • IN NEED OF RENOVATION +
  • NO ONWARD CHAIN +

SUMMARY
A two bedroom detached bungalow which does require complete renovation. An ideal project being situated in a pleasant location within this sought after village location. Benefiting from off road parking and garage. NO ONWARD CHAIN.

DESCRIPTION
A two bedroom detached bungalow which does require complete renovation. A non traditional constructed property, ideal for those seeking a project. Situated in a pleasant location within this sought after village location. Benefiting from off road parking and garage. Accommodation briefly comprises entrance porch, basic kitchen. Entrance hallway, two bedrooms, lounge, bathroom and separate WC. The property is approached from the rear where there is a garden and detached garage. Gardens to front and rear which are overgrown and in need of attention. NO CHAIN.

Porch 
Enter via an opaque UPVC double glazed door. UPVC double glazed window to side elevation. Door to kitchen

Kitchen 13' 2" x 8' 6" ( 4.01m x 2.59m )
A basic kitchen which requires updating. UPVC double glazed window. Airing cupboard and storage cupboard. Floor standing oil boiler.

Hallway 
Doors to WC, bathroom, bedrooms and lounge

Bathroom 
Comprising bath and wash hand basin. Radiator. UPVC double glazed window.

Seperate Wc 
WC. Opaque UPVC double glazed window.

Bedroom One 13' x 9' 1" ( 3.96m x 2.77m )
UPVC double glazed window. Radiator

Bedroom Two 9' 4" x 10' 10" ( 2.84m x 3.30m )
UPVC double glazed window.

Lounge 20' 7" max x 11' 7" max ( 6.27m max x 3.53m max )
UPVC double glazed windows

Outside 
Off road parking area leading to garage to rear with gardens leading to front which are overgrown and require attention.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER PETER ALAN NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

Peter Alan, Monmouth

01600 732444

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