2 Bed Flat, Refurb/BRRR, Southampton, SO18 2FY, £100,000

CHARLES COURT Forest Hills Drive, Southampton, SO18 2FY - 39 views - a year ago

Sold STC

Leasehold

Refurb/BRRR

ROI: 6%

~58 m²

+4 photos

ValuationUndervalued

Sold Prices	£100K - £212K
Sold Prices/m²	£1.8K/m² - £4K/m²

Square Metres	~57.90 m²
Price/m²	£1.7K/m²
Value Estimate	£103,000£103,000
BMV	3%

End Value (After Refurb)	£199,279£199,279
Uplift in Value	+99%+99%
You could potentially get back more cash than you put into this deal. All your cash out plus £14,736 extra. See the breakdown

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£25,000£25,000
Stamp Duty & Legal Fees	£4,200£4,200
Refurb Costs	£26,148£26,148
Bridging Loan Interest	£2,625£2,625
Total Cash In	£59,723£59,723

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£199,279£199,279
Agent Fees (1%)	£1,993£1,993
Bridging Loan	£75,000£75,000
Bridging Loan Interest	£2,625£2,625
Flip Profit	£62,563£62,563

Local Sold Prices

36 sold prices from £100K to £212K, average is £168.5K. £1.8K/m² to £4K/m², average is £2.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£100K	06/21	0 mi	Flat 3, Charles Court, Forest Hills Drive, Southampton SO18 2FY	-	-	2	Flat
£140K	04/21	0.11 mi	Flat 10, Grenville Court, Old Farm Drive, Southampton SO18 2QH	-	-	2	Flat
£190K	06/21	0.16 mi	3, Lingfield Gardens, Southampton SO18 2QG	-	-	2	Flat
£200K	02/23	0.16 mi	21, Lingfield Gardens, Southampton SO18 2QG	-	-	2	Flat
£198K	04/23	0.18 mi	158, Woodmill Lane, Southampton SO18 2PF	£2,357	84	2	Flat
£188K	10/21	0.18 mi	152, Woodmill Lane, Southampton SO18 2PF	£3,298	57	2	Flat
£160K	12/20	0.18 mi	150, Woodmill Lane, Southampton SO18 2PF	£2,807	57	2	Flat
£177K	11/21	0.25 mi	117a, Woodmill Lane, Southampton SO18 2PE	-	-	2	Flat
£160K	11/20	0.43 mi	Flat 7, Castle Heights, Castle Road, Midanbury, Southampton SO18 1TY	-	-	2	Flat
£180K	04/23	0.5 mi	34, Cornwall Road, Southampton SO18 2QZ	£2,574	70	2	Flat
£135K	11/20	0.56 mi	26, Middleton Close, Southampton SO18 2FP	£2,250	60	2	Flat
£132K	04/21	0.61 mi	9, Dyneley Green, Southampton SO18 2EZ	£2,316	57	2	Flat
£165K	05/23	0.63 mi	30, Witts Hill, Southampton SO18 4QF	£3,667	45	2	Flat
£195K	09/21	0.63 mi	9, Harbourne Gardens, West End, Southampton, Hampshire SO18 3LY	£3,469	56	2	Flat
£212K	04/23	0.66 mi	23a, Hillside Avenue, Bitterne Park, Southampton SO18 1LD	-	-	2	Flat
£169K	05/21	0.69 mi	33, Vale Drive, Southampton SO18 4SW	£3,950	43	2	Flat
£123K	04/23	0.7 mi	4, Summit Way, Southampton SO18 4ST	£2,795	44	2	Flat
£137K	12/22	0.7 mi	7, Meggeson Avenue, Southampton SO18 2ET	£3,262	42	2	Flat
£130K	01/21	0.7 mi	3, Meggeson Avenue, Southampton SO18 2ET	£2,281	57	2	Flat
£160K	02/21	0.71 mi	Ground Floor Flat, 37, High Road, Swaythling, Southampton SO16 2JE	£2,560	62	2	Flat
£168K	12/20	0.78 mi	11a, St Catherines Road, Southampton SO18 1LL	£2,134	79	2	Flat
£155K	03/21	0.8 mi	32a, St Catherines Road, Southampton SO18 1LJ	£2,279	68	2	Flat
£163K	03/21	0.81 mi	12a, The Drive, West End, Southampton, Hampshire SO30 3AN	£2,397	68	2	Flat
£183K	08/21	0.81 mi	11, The Drive, West End, Southampton, Hampshire SO30 3AN	-	-	2	Flat
£177.5K	01/21	0.84 mi	Flat 20, Deepdene, Midanbury Lane, Southampton SO18 4TQ	-	-	2	Flat
£185K	09/21	0.84 mi	Flat 21, Deepdene, Midanbury Lane, Southampton SO18 4TQ	-	-	2	Flat
£163K	01/23	0.85 mi	619, Portswood Road, Southampton SO17 3SL	£2,587	63	2	Flat
£125K	06/21	0.87 mi	25, Neva Road, Southampton SO18 4FH	£1,786	70	2	Flat
£205K	05/21	0.9 mi	68, Riverdene Place, Southampton SO18 1UH	£2,278	90	2	Flat
£133K	08/21	0.91 mi	137, Vanguard Road, Southampton SO18 2EH	£2,046	65	2	Flat
£202K	09/23	0.92 mi	18, Riverdene Place, Southampton SO18 1UG	£3,483	58	2	Flat
£170K	07/23	0.93 mi	217, Priory Road, St Denys, Southampton SO17 2LR	-	-	2	Flat
£120K	06/23	0.95 mi	30, Hood Road, Southampton SO18 5PD	£1,846	65	2	Flat
£180K	12/22	0.96 mi	27, Moorlands Crescent, Southampton SO18 5QS	£2,278	79	2	Flat
£195K	06/23	0.96 mi	Flat 19, St Michaels Court, Priory Close, Southampton SO17 2FR	-	-	2	Flat
£186K	12/20	0.97 mi	10, Rostron Close, West End, Southampton, Hampshire SO18 3AF	£3,158	59	2	Flat

Local Rents

15 rents from £890/mo to £1.4K/mo, average is £1.1K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,300	09/24	0.44 mi	Atlantic Park View	2	Terraced House
£1,375	10/24	0.46 mi	-	2	Bungalow
£1,200	09/24	0.49 mi	Atlantic Park View, Chartwell Green, SO18	2	Terraced House
£1,100	09/24	0.49 mi	Ash Tree Road, SO18	2	Flat
£1,200	10/24	0.5 mi	-	2	Flat
£1,150	02/25	0.5 mi	-	2	Flat
£895	09/24	0.51 mi	Litchfield Road, Southampton	2	Flat
£1,400	09/24	0.51 mi	Lynn Close, West End, SOUTHAMPTON	2	Flat
£1,150	09/24	0.52 mi	Litchfield Road SILVER SUB, Midanbury, Southampton, Hampshire, SO18	2	Bungalow
£995	09/24	0.55 mi	Bitterne Park	2	Flat
£1,050	09/24	0.56 mi	Middleton Close, SOUTHAMPTON	2	Flat
£1,100	09/24	0.56 mi	Middleton Close, SOUTHAMPTON	2	Flat
£1,100	12/24	0.58 mi	-	2	Flat
£1,100	12/24	0.58 mi	-	2	Flat
£890	04/25	0.62 mi	-	2	Flat

Local Area Statistics

Population in SO18	36,53836,538
Population in Southampton	428,247428,247
Town centre distance	1.53 miles away1.53 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.68 miles away0.68 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+16%+16%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+19%+19%

Property History

Listed for £100,000

April 30, 2024

Sold for £86,000

2003

Floor Plans

Description

In need of Modernisation

This ground floor two double bedroom apartments with garage and parking has come to the market to be SOLD. the property has a short lease length of just 52years hence the price. One renovated this property could fetch on the rental market around £1050 to £1100 per calender month. perfect investment.

In brief the property consists of two double bedrooms, large lounge diner, three piece white bathroom suite with shower over bath, fitted kitchen, double glazing and gas central heating.

’These particulars are believed to be correct and have been verified by or on behalf of the Vendor. However any interested party will satisfy themselves as to their accuracy and as to any other matter regarding the Property or its location or proximity to other features or facilities which is of specific importance to them. Distances and areas are only approximate and unless otherwise stated fixtures contents and fittings are not included in the sale. Prospective purchasers are always advised to commission a full inspection and structural survey of the Property before deciding to proceed with a purchase.

Successful buyers will be required to complete online identity checks provided by Lifetime Legal. The cost of these checks is £80 inc. VAT per purchase which is paid in advance, directly to Lifetime Legal. This charge verifies your identity in line with our obligations as agreed with HMRC and includes mover protection

Agent Details

Leaders Sales, Southampton

0238 202 5502

Next Steps?

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