2 Bed Flat, Single Let, Peacehaven, BN10 7QD, £199,950

Lake Drive,Peacehaven, BN10 7QD - 5 views - 10 months ago

Leasehold

BTL

ROI: 4%

~68 m²

+2 photos

ValuationUndervalued

Sold Prices	£130K - £405K
Sold Prices/m²	£2.8K/m² - £7.5K/m²

Square Metres	~68.11 m²
Price/m²	£2.9K/m²
Value Estimate	£248,174£248,174
BMV	24%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£49,988£49,988
Stamp Duty & Legal Fees	£7,199£7,199
Total Cash In	£57,186£57,186

Cash Out
Rent Range	£975 - £2,000£975 - £2,000
Rent Estimate	£1,041
Running Costs/mo	£853£853
Cashflow/mo	£188£188
Cashflow/yr	£2,255£2,255
ROI	4%4%
Gross Yield	6%6%

Local Sold Prices

23 sold prices from £130K to £405K, average is £225K. £2.8K/m² to £7.5K/m², average is £3.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£186K	11/21	0.13 mi	97a, Roderick Avenue, Peacehaven, East Sussex BN10 8BN	£3,444	54	2	Flat
£230K	05/23	0.41 mi	111d, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7NE	£3,151	73	2	Flat
£130K	05/21	0.48 mi	Flat 3, Duncan House, Collingwood Close, Peacehaven, East Sussex BN10 8BA	£2,826	46	2	Flat
£203.5K	06/21	0.48 mi	Flat 2, Greenacres, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LY	£3,660	56	2	Flat
£260K	09/22	0.54 mi	Flat 9, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	-	-	2	Flat
£235K	07/21	0.54 mi	Flat 2, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	£3,133	75	2	Flat
£214K	06/21	0.54 mi	Flat 9, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	-	-	2	Flat
£270K	07/23	0.54 mi	Flat 2, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	£3,600	75	2	Flat
£224K	11/21	0.54 mi	Flat 5, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	-	-	2	Flat
£217.9K	05/23	0.59 mi	56, Roundhouse Crescent, Peacehaven, East Sussex BN10 8GL	-	-	2	Flat
£217.9K	06/23	0.59 mi	41, Roundhouse Crescent, Peacehaven, East Sussex BN10 8GL	-	-	2	Flat
£300K	11/22	0.62 mi	2, Tuscan Court, Telscombe Cliffs, Peacehaven, East Sussex BN10 7HF	£4,545	66	2	Flat
£317K	01/21	0.67 mi	29, Piddinghoe Avenue, Peacehaven, East Sussex BN10 8RJ	£3,644	87	2	Flat
£345K	05/21	0.71 mi	43, Gladys Avenue, Peacehaven, East Sussex BN10 8RN	£5,565	62	2	Flat
£235K	05/21	0.82 mi	62, Westview Close, Peacehaven, East Sussex BN10 8GA	£5,000	47	2	Flat
£225K	04/21	0.95 mi	41, Friars Avenue, Peacehaven, East Sussex BN10 8SB	-	-	2	Flat
£255K	08/21	1.27 mi	Flat 7, Reba Court, Tye Close, Saltdean, Brighton, East Sussex BN2 8DY	-	-	2	Flat
£145K	11/21	1.47 mi	Flat 42, Homeridge House, Longridge Avenue, Saltdean, Brighton, East Sussex BN2 8RQ	-	-	2	Flat
£169K	10/21	1.48 mi	Flat 2, Homeridge House, Longridge Avenue, Saltdean, Brighton, East Sussex BN2 8RQ	-	-	2	Flat
£405K	11/21	1.64 mi	50, Westfield Avenue South, Saltdean, Brighton, Brighton And Hove BN2 8HT	£7,500	54	2	Flat
£215K	09/21	1.79 mi	122a, Lustrells Vale, Saltdean, Brighton, Brighton And Hove BN2 8FB	-	-	2	Flat
£229.9K	04/22	1.96 mi	7a, Rose Walk Close, Newhaven, East Sussex BN9 9NL	£4,339	53	2	Flat
£218K	04/22	1.96 mi	6, Rose Walk Close, Newhaven, East Sussex BN9 9NL	£4,275	51	2	Flat

Local Rents

27 rents from £975/mo to £2K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,300	03/23	0.34 mi	-	2	Terraced House
£1,100	12/24	0.35 mi	-	2	Flat
£1,200	12/24	0.42 mi	Foxhill, Peacehaven	2	Detached House
£1,450	12/24	0.45 mi	Trafalgar Close, Peacehaven, BN10	2	Flat
£1,350	12/24	0.51 mi	Keymer Avenue, Peacehaven, BN10 8EX	2	Terraced House
£1,300	03/25	0.52 mi	-	2	Flat
£1,395	02/25	0.57 mi	-	2	Detached House
£1,450	12/24	0.6 mi	South Coast Road, Peacehaven	2	Flat
£1,400	12/24	0.65 mi	-	2	Semi-Detached House
£1,400	01/25	0.65 mi	-	2	Semi-Detached House
£1,300	12/24	0.66 mi	Sussex Way, Telscombe Cliffs, BN10 7EX	2	Terraced House
£1,100	12/24	0.69 mi	The Esplanade, Peacehaven, BN10 7EY	2	Flat
£1,300	02/25	0.78 mi	-	2	Terraced House
£1,350	12/24	0.83 mi	-	2	Terraced House
£1,200	12/24	0.84 mi	Westview Close, Peacehaven	2	Flat
£1,200	12/24	0.88 mi	South Coast Road, Peacehaven, BN10 7BE	2	Flat
£1,050	12/24	0.91 mi	South Coast Road, Peacehaven	2	Flat
£1,902	03/25	1.03 mi	-	2	Semi-Detached House
£2,000	07/23	1.05 mi	-	2	Bungalow
£1,700	07/24	1.05 mi	-	2	Bungalow
£1,700	03/25	1.05 mi	-	2	Bungalow
£1,400	09/24	1.08 mi	-	2	House
£1,300	12/24	1.14 mi	16 South Coast Road, Peacehaven, BN10	2	Flat
£975	12/24	1.14 mi	-	2	House
£1,350	12/24	1.16 mi	Oaklands Avenue, Saltdean	2	Flat
£1,650	12/24	1.2 mi	South Coast Road, Telscombe Cliffs, Peacehaven	2	Flat
£1,200	12/24	1.23 mi	South Coast Road, BN10	2	Flat

Local Area Statistics

Population in BN10	18,56318,563
Population in Peacehaven	18,56618,566
Town centre distance	0.14 miles away0.14 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	2.50 miles away2.50 miles away

Rental growth (12m)	+12%+12%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+20%+20%

Property History

Listed for £199,950

May 22, 2024

Floor Plans

Description

TOP FLOOR APARTMENT +
TWO BEDROOMS +
REFITTED KITCHEN AND BATHROOM +
SUPERBLY PRESENTED THROUGHOUT +
DISTANT SEA VIEWS +
GARAGE AND ALLOCATED PARKING +

This is a WONDERFUL opportunity to acquire this bright, top floor TWO BEDROOM apartment, which has been UPDATED and IMPROVED by the current owners. Since their ownership the property has undergone a wonderful transformation and now boasts , a modern kitchen with some built in appliances, a contemporary bathroom suite , updated electric radiators throughout, upgraded carpets and it has been completely redecorated. Being on the top floor, not only means the light streams through the entire flat but offers an open aspect to the rear and has views all the way down to the sea. This delightful apartment, also comes with its own garage and a parking space.

Kitchen - 2047.00m (6715' 11") x 2.94m (9' 8") -

Lounge - 4.57m (15' 0") x 3.88m (12' 9") -

Bathroom -

Bedroom 1 - 3.33m (10' 11") x 2.91m (9' 7") -

Bedroom 2 - 3.33m (10' 11") x 1.80m (5' 11") -

Parking Space -

Garage -

Outgoings And Lease - Lease 125 years from 2014
Ground rent approx £150 Per Annum
Service Charge Approx £1624 Per Annum
Garage £240 per annum
Council Tax Band ‘A’

Agent Details

Open House Estate Agents, Brighton

01273 109735

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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2 Bed Flat, Single Let, Peacehaven, BN10 7QD, £199,950

ValuationUndervalued

CashflowsOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Cashflows

Local Sold Prices

Local Rents