2 Bed Flat, Refurb/BRRR, Brighton, BN1 6NA, £325,000

211 Balfour Road, Brighton, BN1 6NE - 4 views - 9 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 2%
~68 m²
+9 photos

ValuationOvervalued

Sold Prices£137.5K - £1.3M
Sold Prices/m²£2.9K/m² - £6.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.8K/m²

Value Estimate

£304,707

 

 

End Value (After Refurb)

£405,423

Uplift in Value

+25%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£14,700

Refurb Costs

£32,371

Bridging Loan Interest

£8,531

Total Cash In

£138,602

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£405,423

Agent Fees (1%)

£4,054

Bridging Loan

£243,750

Bridging Loan Interest

£8,531

Flip Profit

£19,016

Local Sold Prices

31 sold prices from £137.5K to £1.3M, average is £326K. £2.9K/m² to £6.8K/m², average is £4.8K/m².

PriceDateDistanceAddressBeds 
£443.5K01/210.09 mi89a, Beaconsfield Villas, Brighton, Brighton And Hove BN1 6HF2
£275K12/200.12 mi3 Surrenden Lodge, Surrenden Road, Brighton, Brighton And Hove BN1 6QB2
£415K09/210.15 mi28a, Loder Road, Brighton, Brighton And Hove BN1 6PJ2
£370K12/200.18 miBasement Flat, 67, Preston Drove, Brighton, Brighton And Hove BN1 6LA2
£340K11/200.27 mi66a, Lowther Road, Brighton, Brighton And Hove BN1 6LH2
£340K06/210.29 mi95a, Sandgate Road, Brighton, Brighton And Hove BN1 6JP2
£270K10/210.32 mi45, Havelock Road, Brighton, Brighton And Hove BN1 6GL2
£390K02/210.36 mi29b, Beaconsfield Villas, Brighton, Brighton And Hove BN1 6HA2
£1.3M01/210.38 mi39, Stanford Avenue, Brighton, Brighton And Hove BN1 6GA2
£331K10/230.42 miTop Flat, 28, Grantham Road, Brighton, Brighton And Hove BN1 6EE2
£259.9K06/210.47 miFlat 1, Tivoli, Tower Gate, Preston, Brighton, East Sussex BN1 6WT2
£585K09/230.51 miApartment 27, Preston Mansions, Preston Park Avenue, Brighton, Brighton And Hove BN1 6HP2
£422.5K05/210.56 miGround Floor Flat, 1, Park View Terrace, Brighton, Brighton And Hove BN1 5PW2
£220K05/230.58 miGround Floor Flat, 4, Springfield Road, Brighton, Brighton And Hove BN1 6DA2
£295K07/230.58 miFlat 61, Wellend Villas, Springfield Road, Brighton, Brighton And Hove BN1 6BT2
£290K07/230.58 miFlat 53, Wellend Villas, Springfield Road, Brighton, Brighton And Hove BN1 6BT2
£308.5K11/210.61 miFlat 69, Fairways, Dyke Road, Brighton, Brighton And Hove BN1 5AD2
£300K11/200.61 miFlat 46, Fairways, Dyke Road, Brighton, Brighton And Hove BN1 5AD2
£450K01/230.72 mi40, Campbell Road, Brighton, Brighton And Hove BN1 4QD2
£412.5K03/210.77 miUpper Maisonette, 57, Shaftesbury Road, Brighton, Brighton And Hove BN1 4NF2
£326K02/230.79 mi3, Waverley Crescent, Brighton, Brighton And Hove BN1 7BG2
£230.8K05/210.79 miFlat 16, Manhattan Court, Tongdean Lane, Preston, Brighton, Brighton And Hove BN1 6XZ2
£225K12/220.81 miFlat 81, Windsor Court, Tongdean Lane, Withdean, Brighton, Brighton And Hove BN1 5JS2
£210K08/230.81 miFlat 103, Windsor Court, Tongdean Lane, Withdean, Brighton, Brighton And Hove BN1 5JS2
£595K07/210.82 mi28, Stroudley Road, Brighton, Brighton And Hove BN1 4BH2
£411K09/210.82 miFirst And Second Floor Maisonette, 22, Prestonville Road, Brighton, Brighton And Hove BN1 3TL2
£137.5K03/230.86 miFirst Floor Flat, 15, Wakefield Road, Brighton, Brighton And Hove BN2 3FP2
£255K06/210.9 mi27b, Upper Lewes Road, Brighton, East Sussex BN2 3FH2
£316K06/210.91 mi132a, Upper Lewes Road, Brighton, Brighton And Hove BN2 3FD2
£249.5K02/230.92 mi169b, Upper Lewes Road, Brighton, Brighton And Hove BN2 3FB2
£462K06/231 mi60b, Lyndhurst Road, Hove, Brighton And Hove BN3 6FB2

Local Rents

50 rents from £1.1K/mo to £3.3K/mo, average is £1.8K/mo.

RentDateDistanceAddressBeds 
£1,30002/250.01 mi-2
£2,25001/250.02 mi-2
£1,25012/240.11 mi-2
£1,99503/240.12 mi-2
£2,50002/240.12 mi-2
£1,99512/240.12 mi-2
£1,99512/240.12 mi-2
£3,00001/250.12 mi-2
£2,70003/250.12 mi-2
£2,25003/250.12 mi-2
£1,99512/240.12 miBeaconsfield Villas, Brighton, BN12
£1,99512/240.12 miBeaconsfield Villas, Brighton, BN12
£1,99512/240.12 miBeaconsfield Villas, Brighton, BN12
£1,95012/240.14 mi-2
£1,50012/240.15 mi18 Harrington Villas, Brighton, East Sussex, BN12
£1,30012/240.19 miPreston Drove2
£1,60012/240.2 miPreston Park Avenue, BRIGHTON2
£3,25001/250.22 mi-2
£3,25001/250.22 mi-2
£3,00003/250.22 mi-2
£3,25003/250.22 mi-2
£1,55012/240.24 miPreston Park Avenue, Brighton, East Sussex, BN12
£1,30002/250.26 mi-2
£2,00012/240.35 mi-2
£1,50012/240.36 mi-2
£1,50002/250.36 mi-2
£1,52512/240.36 miDitchling Road, BN12
£1,79512/240.37 miBeaconsfield Villas, Brighton, East Sussex, BN12
£1,47512/240.38 miKingsmere, London Road, Brighton, BN1 6UW2
£1,75002/250.38 mi-2
£1,45012/240.39 miCarlton House, Preston Road, Brighton2
£1,30012/240.39 miCliveden Close, Brighton, East Sussex, BN12
£1,30012/240.39 miPreston Road, Brighton, BN1 6SW2
£1,40012/240.39 miCliveden Court, Brighton, BN12
£1,40012/240.39 miCliveden Court, Brighton, BN12
£1,59512/240.39 miGrantham Road, Brighton2
£1,77001/250.4 mi-2
£1,97512/240.41 miStanford Avenue, Brighton, East Sussex, BN1 6EA2
£1,39511/230.42 mi-2
£2,50012/240.42 miNorth Road, Preston Village, Brighton, East Sussex, BN12
£1,45012/240.43 miSouth Road, BN12
£1,40012/240.44 miCliveden Close, BRIGHTON2
£1,15012/240.44 mi-2
£2,20012/240.44 miFlorence Road, Brighton, BN12
£2,20012/240.44 miFlorence Road, Brighton2
£1,85012/240.44 miSt Andrews Road, Brighton, East Sussex, BN1 6EN2
£1,45012/240.44 miVarndean Road, Brighton2
£1,40012/240.45 miLondon Road, Preston, BRIGHTON2
£1,45012/240.45 miSouth Road, Brighton2
£1,95012/240.45 miFlorence road - P15552

Local Area Statistics

Population in BN1

84,021

Population in Brighton

208,224

Town centre distance

1.59 miles away

Nearest school

0.30 miles away

Nearest train station

0.50 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+6%

Sales demand

Balanced market

Capital growth (5yrs)

+22%

Property History

Listed for £325,000

June 12, 2024

Floor Plans

Description

  • Spacious two bedroom first floor flat +
  • Kitchen/breakfast room with ample cupboard space +
  • Situated in a highly sought-after residential area +
  • Bathroom with modern white suite +
  • Close to Fiveways, Preston Park, and local schools +
  • Gas central heating +
  • Bright & airy accommodation +
  • Double glazed windows +
  • Two double bedrooms, one of which has built-in storage +
  • Extended 154-year lease +

Located on the first floor of a Victorian terraced house in a sought-after residential area is this bright and airy two-bedroom flat. It is well-presented, decorated in neutral hues, and ready for someone to put their own stamp on it.

The Property - Located on the first floor of a Victorian terraced house is this bright and airy two-bedroom flat. Renovations to the decor and windows over the past few years have made it a welcoming space to live in and well-suited to a couple or a small family.

You enter the building and head up the stairs to the first floor where you’ll find the front door to the flat. A spacious hallway greets you, which has a practical understairs cupboard, and leads you towards the living room at the front of the property. A large bay window bathes the room in light and provides a welcoming spot for a dining table. The outlook is great for anyone working from home too. Built-in shelving provides space for books and ornaments, and there’s plenty of space for a large sofa. At the front of the property is also the principal bedroom, which has two double-glazed sash windows, and space for wardrobes and drawers.

At the rear of the flat is a good-sized second bedroom, with built-in storage cupboards, and the kitchen. The kitchen is decorated in neutral colours to match the rest of the property and has ample storage space in its white fitted cupboards. There’s a light lino floor, wooden worksurfaces, and enough space for a breakfast table.

Steps lead down to the modern white tiled bathroom which has a bath with a shower over, a WC, and a handbasin.

The Area - This home is in a highly favoured residential area close to local shops on Preston Drove and a short walk away from the popular Fiveways area where you’ll find an array of independent shops, cafes, and bars. Blakers Park and Preston Park are within walking distance and both provide great spaces for recreational activities. The area has a fantastic sense of community, and residents often stay for many years. By no means ‘out-of-town’ this area is well connected to Brighton city centre, which can be reached in just thirty-five minutes on foot.

Schools - Local primary schools include Balfour Primary School, Downs Infants and Junior schools, and Hertford Junior School. Local secondary schools include Varndean School and Dorothy Stringer. Varndean College is within walking distance and BHASVIC is an eight-minute drive away.

Transport Links - Located just off Ditchling Road, this property is within a six-minute drive of the A27 and a ten-minute drive of the centre of Brighton. It is well connected by a regular bus service which will get you to the city centre in just twenty minutes. Gatwick Airport can be reached by car in half an hour, and Heathrow Airport in an hour and ten minutes. Preston Park Station, with its links to Brighton and London, is under a mile away and can be reached on foot in fifteen minutes.

Information - Leasehold
Length of Lease: 154 years
Service Charge: £385.20 twice annually
Ground Rent: £110 per annum (increases to £120 per annum on 24 June 2057)
Council Tax Band: B

Agent Details

Number Twenty Four, Covering Sussex

01273 092765

Next Steps?

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