2 Bed Flat, Single Let, Bognor Regis, PO21 1AG, £150,000

48 Longford Road, Bognor Regis, GA1 12OP, United Kingdom - 1 views - 10 months ago

Sold STC
Leasehold
BTL
ROI: 6%
~68 m²
+7 photos

ValuationUndervalued

Sold Prices£55K - £310K
Sold Prices/m²£1.6K/m² - £3.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.2K/m²

Value Estimate

£184,500
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£5,700

Total Cash In

£43,200

 

 

Cash Out

 

Rent Range

£850 - £1,400

Rent Estimate

£880

Running Costs/mo

£665

Cashflow/mo

£215

Cashflow/yr

£2,583

ROI

6%

Gross Yield

7%

Local Sold Prices

49 sold prices from £55K to £310K, average is £160K. £1.6K/m² to £3.6K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£243.5K02/230.09 miGround Floor Flat, 59, Annandale Avenue, Bognor Regis, West Sussex PO21 2ET2
£220K07/210.15 mi45, Annandale Avenue, Bognor Regis, West Sussex PO21 2ES2
£129K03/210.16 mi11, Carlingford Court, Bognor Regis, West Sussex PO21 2EN2
£160K11/200.16 mi12, Carlingford Court, Bognor Regis, West Sussex PO21 2EN2
£200K07/230.16 mi31, Carlingford Court, Bognor Regis, West Sussex PO21 2EN2
£180K12/230.16 mi3, Carlingford Court, Bognor Regis, West Sussex PO21 2EN2
£115K11/200.16 mi11, Carlingford Court, Bognor Regis, West Sussex PO21 2EN2
£170K11/200.2 mi39b, Linden Road, Bognor Regis, West Sussex PO21 2AP2
£190K07/240.23 miThe Hawthorns, Flat 15, Linden Road, Bognor Regis, West Sussex PO21 2AS2
£135K01/210.26 miFlat 5, Glamis Court, Glamis Street, Bognor Regis, West Sussex PO21 1DR2
£137.5K03/210.29 miFlat 27, Melanies Gardens, Mead Lane, Bognor Regis, West Sussex PO21 1LS2
£225K12/220.3 mi4 Spencer Terrace, 45, Upper Bognor Road, Bognor Regis, West Sussex PO21 1HS2
£240K04/240.3 mi9 Spencer Terrace, 47, Upper Bognor Road, Bognor Regis, West Sussex PO21 1HS2
£192K12/200.32 mi2, Parklands Avenue, Bognor Regis, West Sussex PO21 2BA2
£165K03/210.34 mi8, Highfield Gardens, Bognor Regis, West Sussex PO22 8PA2
£175K02/230.34 mi13, Highfield Gardens, Bognor Regis, West Sussex PO22 8PA2
£152.5K10/220.34 mi21, Highfield Gardens, Bognor Regis, West Sussex PO22 8PA2
£135K03/210.37 mi23, Sudley Gardens, Bognor Regis, West Sussex PO21 1HY2
£160K11/210.37 mi12, Sudley Gardens, Bognor Regis, West Sussex PO21 1HY2
£120K12/220.37 mi15, Sudley Gardens, Bognor Regis, West Sussex PO21 1HY2
£176K12/200.38 miFlat 2, Fraser Court, High Street, Bognor Regis, West Sussex PO21 1HG2
£175K11/210.39 miFlat 6, Sutherland Court, Sutherland Close, Bognor Regis, West Sussex PO21 1DX2
£142.5K05/210.39 miFlat 12, Regis Court, High Street, Bognor Regis, West Sussex PO21 1HZ2
£153K11/200.4 miFlat 18, Regis Court, High Street, Bognor Regis, West Sussex PO21 1HZ2
£160K12/220.4 miFlat 2, Regis Court, High Street, Bognor Regis, West Sussex PO21 1HZ2
£223K12/230.4 miFlat 19, Arran Gate, Marian Way, Bognor Regis, West Sussex PO21 1PD2
£130K12/220.41 miFlat 44, Claremont Court, Campbell Road, Bognor Regis, West Sussex PO21 1HD2
£127K11/200.41 miFlat 8, Claremont Court, Campbell Road, Bognor Regis, West Sussex PO21 1HD2
£110K09/230.41 miFlat 12, Claremont Court, Campbell Road, Bognor Regis, West Sussex PO21 1HD2
£215K01/230.42 mi1, Steyne Street, Bognor Regis, West Sussex PO21 1TJ2
£150K11/210.43 miFlat 70, Seaward Court, West Street, Bognor Regis, West Sussex PO21 1XJ2
£120K12/200.43 miFlat 2, Seaward Court, West Street, Bognor Regis, West Sussex PO21 1XJ2
£97.5K10/200.44 miFlat 2, Orchard Court, Orchard Way, Bognor Regis, West Sussex PO22 9LP2
£205K09/210.45 miFlat 1, Sabey Court, Albert Road, Bognor Regis, West Sussex PO21 1LU2
£200K12/230.45 miSabey Court, Flat 5, Albert Road, Bognor Regis, West Sussex PO21 1LU2
£230K02/240.45 miSabey Court, Flat 1, Albert Road, Bognor Regis, West Sussex PO21 1LU2
£170K02/210.47 miFlat 12, Courtfield House, Hambledon Place, Bognor Regis, West Sussex PO21 2NF2
£200K03/210.48 miFlat 2, Mountbatten Court, Belmont Street, Bognor Regis, West Sussex PO21 1JN2
£105K01/240.48 miFlat 41, Sovereign Court, Campbell Road, Bognor Regis, West Sussex PO21 1AH2
£70K12/200.48 miFlat 42, Sovereign Court, Campbell Road, Bognor Regis, West Sussex PO21 1AH2
£110K10/230.48 miFlat 8, Sovereign Court, Campbell Road, Bognor Regis, West Sussex PO21 1AH2
£105K02/210.48 miFlat 55, Sovereign Court, Campbell Road, Bognor Regis, West Sussex PO21 1AH2
£95K08/210.48 miFlat 8, Sovereign Court, Campbell Road, Bognor Regis, West Sussex PO21 1AH2
£55K09/230.48 miFlat 66, Sovereign Court, Campbell Road, Bognor Regis, West Sussex PO21 1AH2
£152K05/210.48 miFlat 1, Arlington Mews, Scott Street, Bognor Regis, West Sussex PO21 1FE2
£310K03/230.48 miFlat 71, Mountbatten Court, Belmont Street, Bognor Regis, West Sussex PO21 1JW2
£196K06/210.48 miFlat 57, Mountbatten Court, Belmont Street, Bognor Regis, West Sussex PO21 1JW2
£185K11/200.48 miFlat 56, Mountbatten Court, Belmont Street, Bognor Regis, West Sussex PO21 1JW2
£250K08/230.48 miFlat 76, Mountbatten Court, Belmont Street, Bognor Regis, West Sussex PO21 1JW2

Local Rents

51 rents from £850/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,05007/240.06 miLongford Road, Bognor Regis, West Sussex, PO212
£97502/250.1 mi-2
£1,30007/240.1 miBognor Regis2
£97507/240.11 miLongford Road, BOGNOR REGIS2
£99506/240.12 miOakwood Court, Victoria Drive, Bognor Regis, PO212
£1,10006/240.15 miHenry Street, Bognor Regis, PO212
£99506/240.16 miCarlingford Court, Bognor Regis2
£1,10006/240.16 miCarlingford Court2
£1,10002/250.16 mi-2
£99512/240.17 mi-2
£1,00002/250.17 mi-2
£1,00007/240.17 miHills Court, Bognor Regis, PO212
£89507/240.19 miLinden Road, Bognor Regis, PO212
£87506/240.19 mi-2
£89502/250.19 mi-2
£85006/240.19 mi-2
£1,25007/240.2 miVictoria Drive, Bognor Regis, West Sussex, PO212
£1,40006/240.2 miParkside, Upper Bognor Road, Bognor Regis, PO212
£1,15007/240.2 mi-2
£1,15007/240.2 mi-2
£97506/240.2 miRegis House, Richmond Road, Bognor Regis, PO212
£1,05007/240.25 miCanada Grove, Bognor Regis, PO212
£1,20006/240.27 miLyon Street, Bognor Regis2
£1,05007/240.27 miEssex Road, BOGNOR REGIS2
£1,15006/240.28 miMerchant Street, Bognor Regis2
£95007/240.29 miBurnham Avenue, Bognor Regis, PO212
£92502/250.29 mi-2
£1,15006/240.29 mi-2
£1,00006/240.29 miBurnham Avenue, BOGNOR REGIS2
£1,02502/250.29 mi-2
£99506/240.31 miGlamis Street, Bognor Regis, PO212
£1,15006/240.31 miEssex Road, Bognor Regis, PO212
£1,20008/240.33 miMead Lane, Bognor Regis, PO222
£97507/240.34 miFitzleet House Queensway BOGNOR REGIS West Sussex2
£92507/240.34 miFitzleet House Queensway BOGNOR REGIS West Sussex2
£1,20007/240.34 miSudley Road, Bognor Regis, West Sussex, PO212
£1,19506/240.36 miSudley Gardens, Bognor Regis2
£1,20008/240.36 miHighfield Gardens, Bognor Regis, West Sussex, PO222
£1,15007/240.36 miBersted Street, Bognor Regis, West Sussex, PO222
£1,25007/240.37 miSudley Gardens, Bognor Regis, PO21 1HY2
£1,00006/240.37 miSudley Gardens, Bognor Regis, West Sussex, PO212
£1,25002/250.37 mi-2
£1,15007/240.38 miSouthdown Court, Bersted Street, Bognor Regis, PO222
£1,10006/240.38 miLondon Road, Bognor Regis2
£1,10006/240.39 miBersted Street, BOGNOR REGIS2
£1,15007/240.39 miBersted Street, BOGNOR REGIS2
£1,27507/240.39 miHigh Street, Bognor Regis2
£1,00006/240.41 miRegis Court, Bognor Regis2
£1,20006/240.41 miSteyne Street, Bognor Regis, West Sussex, PO212
£1,30003/250.42 mi-2
£1,29508/240.43 miShripney Road, Bognor Regis2

Local Area Statistics

Population in PO21

39,509

Population in Bognor Regis

68,380

Town centre distance

0.02 miles away

Nearest school

0.20 miles away

Nearest train station

0.16 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+28%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £150,000

May 24, 2024

Sold for £117,000

2006

Sold for £35,000

1999

Floor Plans

Description

  • Purpose Built Flat +
  • A new 125 year lease will be granted upon purchase +
  • Sitting/Dining Room +
  • Two Bedrooms +
  • Double Glazing +
  • Gas Fired Central Heating +
  • Private Rear Garden +
  • Excellent Location for Town Centre +

Thought to be originally built for railway workers, this two bedroom first floor flat has its own private entrance and private rear garden.

The accommodation briefly comprises, personal door to entrance way and stairs to first floor landing, dual aspect sitting/dining room with bay window, kitchen, two bedrooms and bathroom.

Outside, external stairs to the private rear garden which backs onto the railway line.  Mainly laid to lawn, raised decking area, and rear service gate. The property would benefit from being updated and this has been reflected in the guide price. Tenure: We understand there is a 99 year lease from 1986. A new 125 year lease will be granted upon purchase. Maintenance Charge: We understand the charges are split between the ground floor and first floor flat as and when work is required. Ground Rent: We understand the ground rent is currently £50 p.a. until December 2051 then increasing to £100 p.a. for the remainder of the term.

EPC Rating: D

Agent Details

Henry Adams, Bognor Regis

01243 219388

Next Steps?

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