3 Bed Bungalow, Refurb/BRRR, Chichester, PO20 1LD, £350,000

Lagness Road, Chichester, West Sussex, PO20 1LD - 1 views - 10 months ago

Refurb/BRRR
~93 m²
+4 photos

ValuationFair Value

Sold Prices£257K - £740K
Sold Prices/m²£2.7K/m² - £7.8K/m²

 

 

Square Metres

~93 m²
Price/m²£3.8K/m²

Value Estimate

£353,500

 

 

End Value (After Refurb)

£340,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£23,700

Refurb Costs

£42,800

Bridging Loan Interest

£9,188

Total Cash In

£164,938

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£340,000

Mortgage (After Refinance)

£255,000

Mortgage LTV

75%

Cash Left In

£164,938

Equity

£85,000

Rent Range

£100 - £3,500

Rent Estimate

£1,294

Running Costs/mo

£1,341

Cashflow/mo

£-47

Cashflow/yr

£-568

Gross Yield

4%

Local Sold Prices

50 sold prices from £257K to £740K, average is £389K. £2.7K/m² to £7.8K/m², average is £4.3K/m².

PriceDateDistanceAddressBeds 
£450K09/210.25 mi14, Hermitage Close, North Mundham, Chichester, West Sussex PO20 1JZ3
£340K02/210.26 mi11, Hermitage Close, North Mundham, Chichester, West Sussex PO20 1JZ3
£345K05/210.38 mi11, Fletcher Place, North Mundham, Chichester, West Sussex PO20 1JR3
£320K04/210.93 mi21, Foxbridge Drive, Hunston, Chichester, West Sussex PO20 1NQ3
£320K02/210.93 mi14, Foxbridge Drive, Hunston, Chichester, West Sussex PO20 1NQ3
£265K06/210.95 mi3, Blackman Way, Hunston, Chichester, West Sussex PO20 1NZ3
£347.5K07/230.96 mi37, Langdale Avenue, Chichester, West Sussex PO19 8JQ3
£525K03/231.02 mi61, Willowbed Drive, Chichester, West Sussex PO19 8HY3
£455K12/221.05 mi7, Meadow Close, Hunston, Chichester, West Sussex PO20 1PB3
£465K06/211.06 mi22, Willowbed Drive, Chichester, West Sussex PO19 8JB3
£376K11/221.06 mi6, St Leodegars Way, Hunston, Chichester, West Sussex PO20 1PF3
£595K05/231.09 mi6, Willowbed Avenue, Chichester, West Sussex PO19 8JD3
£345K03/211.1 mi6, Jestico's Close, Hunston, Chichester, West Sussex PO20 1AF3
£393K06/231.1 mi9, Jestico's Close, Hunston, Chichester, West Sussex PO20 1AF3
£280K03/211.1 mi16, Whyke Close, Chichester, West Sussex PO19 8BB3
£500K04/231.11 mi43, Willowbed Drive, Chichester, West Sussex PO19 8HX3
£575K04/241.11 mi33, Willowbed Drive, Chichester, West Sussex PO19 8HX3
£396K01/211.11 mi80, Whyke Road, Chichester, West Sussex PO19 8HU3
£305K10/211.13 mi2, St Leodegars Way, Hunston, Chichester, West Sussex PO20 1PF3
£400K04/211.13 mi20, St Leodegars Way, Hunston, Chichester, West Sussex PO20 1PF3
£370K11/201.13 mi19, St Leodegars Way, Hunston, Chichester, West Sussex PO20 1PE3
£315K11/201.14 mi75, St Leodegars Way, Hunston, Chichester, West Sussex PO20 1PE3
£395K08/211.14 mi15, St Leodegars Way, Hunston, Chichester, West Sussex PO20 1PE3
£520K03/211.16 miTrimmers House, Whyke Road, Chichester, West Sussex PO19 8JG3
£437.5K02/231.16 mi122, Whyke Road, Chichester, West Sussex PO19 8JG3
£440K02/211.16 miDutchmans Cottage, Whyke Road, Chichester, West Sussex PO19 8JG3
£740K10/231.16 miTrimmers House, Whyke Road, Chichester, West Sussex PO19 8JG3
£280K06/211.18 mi12, High Trees, Hunston, Chichester, West Sussex PO20 1PG3
£360K05/231.21 mi34, Westlands Road, Hunston, Chichester, West Sussex PO20 1PJ3
£430K11/221.27 mi3, Garland Close, Chichester, West Sussex PO19 8DB3
£415K01/211.3 mi130, Whyke Lane, Chichester, West Sussex PO19 8AS3
£257K01/211.31 mi43, Caernarvon Road, Chichester, West Sussex PO19 7YE3
£272.5K11/201.31 mi51, Caernarvon Road, Chichester, West Sussex PO19 7YE3
£437K08/211.32 mi83, Kingsham Avenue, Chichester, West Sussex PO19 8AY3
£315K06/231.33 mi39, Exton Road, Chichester, West Sussex PO19 8BW3
£408K03/211.34 mi14, Old Bakery Gardens, Chichester, West Sussex PO19 8AJ3
£550K06/231.35 miOrchard House, Selsey Road, Hunston, Chichester, West Sussex PO20 1AR3
£310K11/201.37 mi8, Littlefield Road, Chichester, West Sussex PO19 7AE3
£450K03/211.37 mi104, Grove Road, Chichester, West Sussex PO19 8AR3
£385K09/231.37 mi9, Grove Road, Chichester, West Sussex PO19 8AR3
£510K02/231.37 mi96, Grove Road, Chichester, West Sussex PO19 8AR3
£385K04/231.38 mi29, Windsor Road, Chichester, West Sussex PO19 7XG3
£325.3K05/231.38 mi14, Windsor Road, Chichester, West Sussex PO19 7XG3
£315K03/211.38 mi12, Bramber Road, Chichester, West Sussex PO19 8DA3
£350K03/211.39 mi4, Marlborough Close, Chichester, West Sussex PO19 7XW3
£335K01/211.39 mi15, Windsor Road, Chichester, West Sussex PO19 7XF3
£402K12/221.43 mi15, Cleveland Road, Chichester, West Sussex PO19 7AF3
£297K06/231.43 mi27, Kensington Road, Chichester, West Sussex PO19 7XS3
£407.5K09/211.43 mi84, Whyke Lane, Chichester, West Sussex PO19 7PD3
£520K08/231.43 mi82, Cleveland Road, Chichester, West Sussex PO19 7AF3

Local Rents

50 rents from £100/mo to £3.5K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£80012/240.33 miChurch Road North Mundham PO201
£1,38512/240.54 mi-2
£2,00006/240.62 miVinnetrow Road, Chichester4
£2,30006/240.64 miRuncton Lane, Runcton4
£1,80006/240.87 miFoxbridge Drive, Hunston, Chichester, PO204
£1,45006/240.98 miSouthover Way, Hunston, PO203
£1,65007/241 miLangdale Avenue3
£1,15007/241.08 miWhyke Marsh, Chichester, PO192
£79507/241.1 miWhyke Court, Chichester1
£1,15006/241.15 miWhyke Marsh, Chichester, West Sussex, PO192
£53807/241.15 miHay Road, Chichester1
£1,15008/241.16 miWhyke Marsh, Chichester2
£80006/241.16 mi-2
£1,50007/241.2 miHay Road, Chichester, PO193
£87506/241.24 miNorman Court, Chatsworth Road, Chichester, PO191
£1,22507/241.25 miRichard Road, Chichester2
£1,75006/241.26 miHay Road, Chichester4
£10007/241.26 miChatsworth Road, Chichester1
£1,35008/241.27 miCyril Way, Chichester, PO192
£1,65009/241.28 miThe Peacheries, Chichester4
£2,00006/241.28 miKingsham Avenue, Chichester4
£1,30008/241.29 miCaernarvon Road, Chichester2
£85008/241.3 miChatsworth Road, Chichester PO191
£87508/241.3 miChatsworth Road, CHICHESTER1
£85009/241.3 miChatsworth Road, Chichester1
£1,83507/241.3 miKingsham Avenue, Chichester5
£1,69507/241.31 mi-4
£92509/241.31 miChatsworth Road, Chichester1
£1,50007/241.31 miChatsworth Road, Chichester2
£3,33602/251.31 mi-4
£1,10002/251.32 mi-1
£1,10008/241.32 miChatsworth Road, Chichester, PO191
£1,10005/241.32 mi-1
£1,40003/241.34 mi-2
£97507/241.37 miCleveland Road, Chichester, PO191
£1,09502/241.37 mi-1
£99506/241.38 miCleveland Road, Chichester1
£1,45007/241.38 miWindsor Road, Chichester2
£96006/241.39 mi-1
£95007/241.39 mi-1
£90006/241.39 miCleveland Road, Chichester, PO191
£90003/241.39 mi-1
£92508/241.39 miSt Georges Court1
£1,15008/241.4 miBognor Road, Chichester2
£1,29507/241.4 miBognor Road, Chichester2
£1,05006/241.4 miCleveland Road, Chichester1
£1,05006/241.4 miCleveland Road, Chichester, PO191
£1,05004/241.4 mi-1
£1,10004/251.4 mi-1
£3,50006/241.41 miPennitcotts Farm, Pagham5

Local Area Statistics

Population in PO20

32,437

Population in Chichester

75,877

Town centre distance

1.95 miles away

Nearest school

0.30 miles away

Nearest train station

1.77 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Price changed to £350,000

March 8, 2025

Listed for £390,000

July 1, 2024

Floor Plans

Description

  • Good-sized detached bungalow in desirable location +
  • Benefits from a sunny rear garden +
  • Ramped access to the property +
  • Only a short drive to Chichester's city centre & the local beaches +
  • Close to The South Downs National Park +
  • Excellent public transport links +
  • In need of modernisation +
  • Scope to develop (subject to consents) +

This detached bungalow would make a fantastic home for a range of buyers. With a garage and ample off road parking as well as a sunny rear garden, this property is perfect for those looking to downsize. Internally, the home could benefit from modernisation, but it offers spacious accommodation and plenty scope to put your own stamp on it. With excellent local schools close by and excellent public transport links, this is a must view.

Room sizes:

  • Hallway
  • Lounge: 18'2 x 10'10 (5.54m x 3.30m)
  • Kitchen: 14'6 x 11'6 (4.42m x 3.51m)
  • Garden Room: 18'6 x 5'1 (5.64m x 1.55m)
  • Bedroom 1: 10'10 x 10'10 (3.30m x 3.30m)
  • Bedroom 2: 10'11 x 9'6 (3.33m x 2.90m)
  • Bedroom 3: 8'6 x 8'3 (2.59m x 2.52m)
  • Wet Room: 8'8 x 5'8 (2.64m x 1.73m)
  • Garage & Off Road Parking
  • Front & Rear Gardens  
    The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents. All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose.
     
    We are pleased to offer our customers a range of additional services to help them with moving home. None of these services are obligatory and you are free to use service providers of your choice. Current regulations require all estate agents to inform their customers of the fees they earn for recommending third party services. If you choose to use a service provider recommended by Cubitt & West, details of all referral fees can be found at the link below. If you decide to use any of our services, please be assured that this will not increase the fees you pay to our service providers, which remain as quoted directly to you.

Agent Details

Cubitt & West, Chichester

01243 215656

Next Steps?

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