2 Bed Bungalow, Refurb/BRRR, Salisbury, SP1 1SA, £385,000

Elm Close, Laverstock, SP1 1SA - 3 views - 10 months ago

Refurb/BRRR
~68 m²
+8 photos

ValuationOvervalued

Sold Prices£195K - £350K
Sold Prices/m²£3.1K/m² - £6.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£5.7K/m²

Value Estimate

£261,379

 

 

End Value (After Refurb)

£335,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£96,250

Stamp Duty & Legal Fees

£19,500

Refurb Costs

£27,612

Bridging Loan Interest

£10,106

Total Cash In

£155,218

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£335,000

Mortgage (After Refinance)

£251,250

Mortgage LTV

75%

Cash Left In

£155,218

Equity

£83,750

Rent Range

£825 - £1,600

Rent Estimate

£1,115

Running Costs/mo

£1,290

Cashflow/mo

£-175

Cashflow/yr

£-2,098

Gross Yield

3%

Local Sold Prices

37 sold prices from £195K to £350K, average is £245K. £3.1K/m² to £6.6K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£200K12/210.31 mi25, Blyth Way, Salisbury, Wiltshire SP1 3HU2
£310K04/230.38 mi4, Stockwood Close, Salisbury, Wiltshire SP1 3HE2
£225K01/230.39 mi27, St Judes Close, Bishopdown, Salisbury, Wiltshire SP1 3FA2
£237.5K05/210.39 mi19, Hoadley Green, Salisbury, Wiltshire SP1 3HS2
£240K10/210.4 mi52, Barrington Road, Salisbury, Wiltshire SP1 3JD2
£240K01/210.4 mi46, Barrington Road, Salisbury, Wiltshire SP1 3JD2
£195K03/210.43 mi9, St Judes Close, Bishopdown, Salisbury, Wiltshire SP1 3FA2
£234K09/210.43 mi11, St Judes Close, Bishopdown, Salisbury, Wiltshire SP1 3FA2
£217K01/210.43 mi30, St Judes Close, Bishopdown, Salisbury, Wiltshire SP1 3FA2
£240K07/230.44 mi81, Bingham Road, Salisbury, Wiltshire SP1 3EB2
£255K10/200.56 mi7, Anderson Road, Salisbury, Wiltshire SP1 3DX2
£239.9K10/200.57 mi25, Linkway, Salisbury, Wiltshire SP1 3EP2
£239.9K11/200.57 mi29, Linkway, Salisbury, Wiltshire SP1 3EP2
£253K06/230.62 mi4, Grange Gardens, Salisbury, Wiltshire SP1 3DG2
£250K02/210.66 mi43, Lindford Road, Bishopdown, Salisbury, Wiltshire SP1 3WX2
£245K10/200.66 mi25, Lindford Road, Bishopdown, Salisbury, Wiltshire SP1 3WX2
£272.5K06/210.69 mi11, Melvin Close, Laverstock, Salisbury, Wiltshire SP1 1PG2
£285K10/200.69 mi1, Beechcroft Road, Laverstock, Salisbury, Wiltshire SP1 1PF2
£310K09/230.7 mi37, Greenwood Avenue, Laverstock, Salisbury, Wiltshire SP1 1PE2
£272.5K04/210.74 mi9, Greenwood Avenue, Laverstock, Salisbury, Wiltshire SP1 1PD2
£350K08/230.79 mi40, St Marks Road, Salisbury, Wiltshire SP1 3AZ2
£215K02/230.79 mi92, St Marks Road, Salisbury, Wiltshire SP1 3AZ2
£239.5K04/230.8 mi5, Fairview Road, Salisbury, Wiltshire SP1 1JX2
£230K02/210.8 mi2, Fairview Road, Salisbury, Wiltshire SP1 1JX2
£252K09/210.8 mi9, Stout Grove, Bishopdown, Salisbury, Wiltshire SP1 3QF2
£350K09/210.83 mi76, Park Street, Salisbury, Wiltshire SP1 3AU2
£292.5K11/200.83 mi88, Downsway, Salisbury, Wiltshire SP1 3QW2
£344K02/230.84 mi68, Park Street, Salisbury, Wiltshire SP1 3AU2
£275K10/220.84 mi19, Laverstock Road, Salisbury, Wiltshire SP1 1LE2
£280K06/210.84 mi29, Park Street, Salisbury, Wiltshire SP1 3AT2
£227K05/210.87 mi3, Wyndham Park, Salisbury, Wiltshire SP1 3BA2
£262.5K01/230.89 mi11, College Street, Salisbury, Wiltshire SP1 3AL2
£205K02/210.93 mi49, Sunnyhill Road, Salisbury, Wiltshire SP1 3QJ2
£245K06/230.93 mi47, Sunnyhill Road, Salisbury, Wiltshire SP1 3QJ2
£250.6K12/220.94 mi55, Elm Grove Road, Salisbury, Wiltshire SP1 1JW2
£245K09/210.94 mi2, Oakway Road, Salisbury, Wiltshire SP1 3QN2
£258K05/230.95 mi2, Oakway Road, Salisbury, Wiltshire SP1 3QN2

Local Rents

10 rents from £825/mo to £1.6K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,00009/240.66 miLindford Road, Bishopdown, SALISBURY2
£99509/240.76 miEstcourt Road, Salisbury2
£1,20009/240.82 miPark Street, Salisbury2
£1,20009/240.84 miHowes Crescent, Bishopdown, SALISBURY2
£1,25004/250.89 mi-2
£1,20009/240.98 miElm Grove Road, Salisbury, Wiltshire2
£82509/241.05 miSALISBURY - Milford Hill2
£1,15012/241.11 mi-2
£1,60009/241.17 miEndless Street Salisbury SP12
£1,05009/241.18 miStratford Road, Salisbury2

Local Area Statistics

Population in SP1

21,621

Population in Salisbury

93,605

Town centre distance

1.54 miles away

Nearest school

0.10 miles away

Nearest train station

1.57 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+49%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £385,000

June 6, 2024

Floor Plans

Description

  • TWO BEDROOM DETACHED BUNGALOW +
  • GARAGE WITH OFF ROAD PARKING +
  • POPULAR RESIDENTIAL LOCATION +
  • NO FORWARD CHAIN +
  • MODERN BATHROOM +
  • OPPORTUNITY FOR MODERNISATION +
  • LARGE LIVING/DINING AREA +
  • POPULAR RESIDENTIAL LOCATION +
  • GAS CENTRAL HEATING +
  • DOUBLE GLAZING EXCEPT UTILITY AREA, GARAGE, AND BATHROOM +

Northwood Salisbury are delighted to bring to market this well presented, two-bedroom, detached bungalow with NO FORWARD CHAIN! Located in a popular residential location in Laverstock, the property is situated close to local schools, shops, and benefits from near-by bus stops for links into Salisbury. The accommodation consists of: an entrance hallway, two double bedrooms, both benefitting from inbuilt wardrobes. The property also offers a DUAL ASPECT Living/Dining room, measuring 24'6" Max X 11'11" Max, a fitted kitchen, modern bathroom, and separate WC. To the rear of the property, there is a utility area, with a door accessing the garage. Gas Central Heating, and partial Double Glazing. Call today to arrange a viewing! 

**ENTRANCE HALLWAY

LIVING AREA/DINING AREA (24'6" max X 11'11" max)**
Dual aspect. Sliding door to rear aspect. Three radiators. 

**KITCHEN (9'10" max X 7'11" max) **
Window to rear aspect. Radiator.

UTILITY AREA (9' max X 10'11" max)
Single glazed window to side aspect. Door leading to garage. 

BATHROOM (7'6" max X 7'11" max)
Single window to rear aspect. Radiator. Airing cupboard with Combination Boiler, installed 2021. 

WC (7'11" max X 3'01")
Window to side aspect. Radiator. 

BEDROOM ONE (10'10" max X 11'09" max)
Window to front aspect. Radiator. In-built wardrobe. 

BEDROOM TWO (7'11" max X 11'09" max)
Window to front aspect. Radiator. In-built wardrobe.

GARAGE

Tenure - Freehold

**EPC: D

Council Tax Band: D**

Sales Disclaimer (OVM)
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.

Agent Details

Northwood, Salisbury

01722 548391

Next Steps?

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