2 Bed Flat, Single Let, Peacehaven, BN10 7QF, £185,000

Balcombe Road, Peacehaven, East Sussex, BN10 7QF - 4 views - 9 months ago

Sold STC

Leasehold

BTL

ROI: 5%

~68 m²

+5 photos

ValuationUndervalued

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

Square Metres	~68.11 m²
Price/m²	£2.7K/m²
Value Estimate	£231,250£231,250
BMV	25%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£46,250£46,250
Stamp Duty & Legal Fees	£6,750£6,750
Total Cash In	£53,000£53,000

Cash Out
Rent Range	£975 - £2,000£975 - £2,000
Rent Estimate	£1,003
Running Costs/mo	£799£799
Cashflow/mo	£204£204
Cashflow/yr	£2,451£2,451
ROI	5%5%
Gross Yield	7%7%

Local Sold Prices

25 sold prices from £130K to £405K, average is £224K. £2.8K/m² to £7.5K/m², average is £3.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£186K	11/21	0.11 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	0.43 mi	Flat 3, Duncan House, Collingwood Close, Peacehaven, East Sussex BN10 8BA	£2,826	46	2	Flat
£203.5K	06/21	0.52 mi	Flat 2, Greenacres, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LY	£3,660	56	2	Flat
£260K	09/22	0.57 mi	Flat 9, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	-	-	2	Flat
£235K	07/21	0.58 mi	Flat 2, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	£3,133	75	2	Flat
£214K	06/21	0.58 mi	Flat 9, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	-	-	2	Flat
£270K	07/23	0.58 mi	Flat 2, Central House, Central Avenue, Telscombe Cliffs, Peacehaven, East Sussex BN10 7LJ	£3,600	75	2	Flat
£224K	11/21	0.58 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	0.66 mi	2, Tuscan Court, Telscombe Cliffs, Peacehaven, East Sussex BN10 7HF	£4,545	66	2	Flat
£317K	01/21	0.68 mi	29, Piddinghoe Avenue, Peacehaven, East Sussex BN10 8RJ	£3,644	87	2	Flat
£345K	05/21	0.72 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	0.96 mi	41, Friars Avenue, Peacehaven, East Sussex BN10 8SB	-	-	2	Flat
£255K	08/21	1.29 mi	Flat 7, Reba Court, Tye Close, Saltdean, Brighton, East Sussex BN2 8DY	-	-	2	Flat
£145K	11/21	1.49 mi	Flat 42, Homeridge House, Longridge Avenue, Saltdean, Brighton, East Sussex BN2 8RQ	-	-	2	Flat
£169K	10/21	1.49 mi	Flat 2, Homeridge House, Longridge Avenue, Saltdean, Brighton, East Sussex BN2 8RQ	-	-	2	Flat
£405K	11/21	1.63 mi	50, Westfield Avenue South, Saltdean, Brighton, Brighton And Hove BN2 8HT	£7,500	54	2	Flat
£215K	09/21	1.8 mi	122a, Lustrells Vale, Saltdean, Brighton, Brighton And Hove BN2 8FB	-	-	2	Flat
£229.9K	04/22	1.94 mi	7a, Rose Walk Close, Newhaven, East Sussex BN9 9NL	£4,339	53	2	Flat
£218K	04/22	1.94 mi	6, Rose Walk Close, Newhaven, East Sussex BN9 9NL	£4,275	51	2	Flat
£200K	11/20	1.99 mi	Flat 6, St Lukes Court, Church Hill, Newhaven, East Sussex BN9 9HZ	-	-	2	Flat
£217.9K	09/23	1.99 mi	Flat 5, St Lukes Court, Church Hill, Newhaven, East Sussex BN9 9HZ	£3,460	63	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	0.3 mi	-	2	Terraced House
£1,200	12/24	0.37 mi	Foxhill, Peacehaven	2	Detached House
£1,100	12/24	0.39 mi	-	2	Flat
£1,450	12/24	0.4 mi	Trafalgar Close, Peacehaven, BN10	2	Flat
£1,300	03/25	0.49 mi	-	2	Flat
£1,350	12/24	0.51 mi	Keymer Avenue, Peacehaven, BN10 8EX	2	Terraced House
£1,395	02/25	0.57 mi	-	2	Detached House
£1,450	12/24	0.62 mi	South Coast Road, Peacehaven	2	Flat
£1,400	12/24	0.67 mi	-	2	Semi-Detached House
£1,400	01/25	0.67 mi	-	2	Semi-Detached House
£1,300	12/24	0.69 mi	Sussex Way, Telscombe Cliffs, BN10 7EX	2	Terraced House
£1,100	12/24	0.72 mi	The Esplanade, Peacehaven, BN10 7EY	2	Flat
£1,300	02/25	0.76 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	0.91 mi	South Coast Road, Peacehaven, BN10 7BE	2	Flat
£1,050	12/24	0.92 mi	South Coast Road, Peacehaven	2	Flat
£1,902	03/25	1.04 mi	-	2	Semi-Detached House
£2,000	07/23	1.04 mi	-	2	Bungalow
£1,700	07/24	1.04 mi	-	2	Bungalow
£1,700	03/25	1.04 mi	-	2	Bungalow
£1,400	09/24	1.07 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	1.17 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	0.10 miles away0.10 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	2.48 miles away2.48 miles away

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

Property History

Listed for £185,000

June 21, 2024

Floor Plans

Description

Two bedroom top floor flat +
Garage and parking +
Long lease +
Close to local amenities +

Welcome to this delightful 2-bedroom flat, offering a perfect blend of comfort and convenience. Ideal for first-time buyers, small families, or investors, this property is situated in a desirable neighbourhood with easy access to local amenities and transport links.

Two Spacious Bedrooms: Both bedrooms are generously sized, providing ample space for relaxation and storage. The master bedroom features large windows, allowing plenty of natural light to flood the room. Bright Living Area, the living area is perfect for both entertaining and everyday living, with enough room for a dining table and a cozy lounge setup. Fully Equipped Kitchen, the kitchen boasts modern appliances, plenty of counter space, and storage solutions, making it a joy for home cooks. Private Garage, a rare find, the property includes a private garage, offering secure parking and additional storage space.

Lake Drive is situated in the heart of Peacehaven, the Meridian shopping centre with its array of different shops. Doctors surgery, leisure centre are both nearby, and local schools just a short walk away. You also have a number of buses that can take you to Brighton or Eastbourne.

Agent Details

King & Chasemore, Saltdean

01273 109742

Next Steps?

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

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