2 Bed Flat, Single Let, Romsey, SO51 7NP, £250,000

Romsey, SO51 7NP - 9 months ago

Leasehold
BTL
ROI: 2%
~74 m²
+6 photos

ValuationUndervalued

Sold Prices£145K - £460K
Sold Prices/m²£2.5K/m² - £5.3K/m²

 

 

Square Metres

~74.30 m²
Price/m²£3.4K/m²

Value Estimate

£263,778
BMV6%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£13,700

Total Cash In

£76,200

 

 

Cash Out

 

Rent Range

£950 - £1,350

Rent Estimate

£1,163

Running Costs/mo

£1,034

Cashflow/mo

£129

Cashflow/yr

£1,550

ROI

2%

Gross Yield

6%

Local Sold Prices

25 sold prices from £145K to £460K, average is £235K. £2.5K/m² to £5.3K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£145K03/210.06 miFlat 28, Nightingale House, Great Well Drive, Romsey, Hampshire SO51 7QN2
£152K10/200.07 miFlat 16, Nightingale House, Great Well Drive, Romsey, Hampshire SO51 7QN2
£170K03/210.19 mi13, Symes Road, Romsey, Hampshire SO51 5BD2
£345K03/230.2 miFlat 7, Palmerston House, Botley Road, Romsey, Hampshire SO51 5TA2
£340K07/210.2 miFlat 4, Palmerston House, Botley Road, Romsey, Hampshire SO51 5TA2
£180K03/210.33 mi2a, Southampton Road, Romsey, Hampshire SO51 8AF2
£250K02/230.37 miFlat 10, Reynolds Court, Tadburn Road, Romsey, Hampshire SO51 5AX2
£200K07/210.38 mi100, Viney Avenue, Romsey, Hampshire SO51 7NT2
£250K09/210.38 mi41, Withy Close, Romsey, Hampshire SO51 7SA2
£205K05/210.39 miFlat 10, Reynolds Court, Tadburn Road, Romsey, Hampshire SO51 5AX2
£202.5K01/210.41 miFlat 11, Reynolds Court, Tadburn Road, Romsey, Hampshire SO51 5AX2
£230K08/230.42 miFlat 7, James Court, Tadburn Road, Romsey, Hampshire SO51 5BL2
£210K08/210.42 miFlat 6, James Court, Tadburn Road, Romsey, Hampshire SO51 5BL2
£235K03/230.54 mi2, St James Mews, Romsey, Hampshire SO51 8BX2
£310K05/230.58 mi6, Latimer Walk, Romsey, Hampshire SO51 8LA2
£210K01/230.63 miFlat 17, The Malthouse, Brewery Lane, Romsey, Hampshire SO51 8JX2
£255K08/230.63 miFlat 28, The Malthouse, Brewery Lane, Romsey, Hampshire SO51 8JX2
£170K08/230.68 miFlat 15, Dukes Mill, Broadwater Road, Romsey, Hampshire SO51 8PJ2
£247.5K02/210.75 miFlat 4, Brook Court, Middlebridge Street, Romsey, Hampshire SO51 8HR2
£240K06/210.76 miFlat 2, Brook Court, Middlebridge Street, Romsey, Hampshire SO51 8HR2
£235K02/210.76 mi63, Priestlands, Romsey, Hampshire SO51 8FJ2
£460K03/230.82 mi56, Newton Lane, Romsey, Hampshire SO51 8GX2
£450K03/230.82 mi38, Newton Lane, Romsey, Hampshire SO51 8GX2
£247.5K12/220.9 mi71, Riverside Gardens, Romsey, Hampshire SO51 8HN2
£225K05/230.9 mi70, Riverside Gardens, Romsey, Hampshire SO51 8HN2

Local Rents

19 rents from £950/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,29502/240.03 miChirk Place, Romsey, Hampshire, SO512
£1,20009/240.09 miWinchester House, 112-114 Winchester Road, Romsey, Hampshire, SO512
£1,25009/240.11 miWinchester Road, Romsey, Hampshire, SO512
£1,20009/240.2 miRomsey Mallard Close UNFURNISHED2
£1,20009/240.22 miMallard Close, Romsey2
£1,20003/250.24 mi-2
£1,25009/240.31 miRomsey Winchester Road UNFURNISHED2
£1,12512/240.36 miWinchester Road, Romsey, Hampshire, SO512
£1,20009/240.37 mi Romsey, Hampshire2
£1,30012/240.37 miStation Approach, Romsey, Hampshire, SO512
£1,15012/240.41 miTadburn Road, ROMSEY2
£1,20012/240.47 miWessex Gardens, Romsey2
£1,20003/250.49 mi-2
£1,35009/240.5 miSt. Johns Gardens, Romsey2
£1,25012/240.51 miAshdene Court, Station Road, Romsey2
£1,20001/250.54 mi-2
£95009/240.54 miThe Hundred, Romsey2
£1,20002/250.55 mi-2
£1,20009/240.59 miLatimer Street, Romsey, SO512

Local Area Statistics

Population in SO51

26,989

Town centre distance

0.38 miles away

Nearest school

0.20 miles away

Nearest train station

0.39 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-5%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £250,000

February 24, 2025

Price changed to £280,000

December 4, 2024

Price changed to £290,000

September 26, 2024

Listed for £300,000

July 4, 2024

Floor Plans

Description

  • A Beautifully Presented Apartment +
  • 2 Double Bedrooms +
  • Sitting/Dining Room With Balcony +
  • Well Fitted Kitchen +
  • Level Walking Distance of the Town Centre +
  • Bathroom and En-Suite Shower Room +
  • Gas Central Heating +
  • UPVC double Glazing +
  • Allocated Parking +
  • Landscaped Gardens +

COMMUNAL ENTRANCE HALL:
Accessed via security intercom. Stairs to:

SECOND FLOOR:

LANDING:
Door to:

ENTRANCE HALL:
Radiator.  Built-in cloaks cupboard and separate linen/airing cupboard.  Double doors to:

SITTING/DINING ROOM:
Two radiators.  Double glazed window to the front.  French doors opening onto:

BALCONY:
Wrought-iron surround and replacement decking.  Space for bistro table and two chairs.

KITCHEN/BREAKFAST ROOM:
Well-fitted with an extensive range of wall and base units with work surfaces over.  Part tiled walls.  Built-in electric oven and 4-ring gas hob with extractor hood over.  Space for fridge/freezer.  Space and plumbing for washing machine.  Tiled floor.  Double glazed window to the rear.  Radiator.  Inset one and a half bowl single drainer sink unit with mixer tap.

MASTER BEDROOM:
Radiator.  Double glazed window to the rear.  Two built-in wardrobes.  Door to:
EN-SUITE SHOWER ROOM:
Modern suite comprising tiled shower cubicle.  Pedestal wash basin.  Low level W.C.  Radiator.  Part tiled walls.  Extractor fan.  Double-glazed window to the side.

BEDROOM TWO:
Radiator.  Double glazed bay window to the front.

BATHROOM:
Modern white suite comprising panel enclosed bath with shower mixer.  Pedestal wash basin.  Low level W.C.  Part tiled walls.  Extractor fan.  Radiator.  Double glazed window to the front.

OUTSIDE:
The property stands in well-maintained communal landscaped gardens and there is ample on-site parking for residents and visitors with one space allocated to the property.  There is also a secure play area for children.

TENURE:
Leasehold held on a 125 year lease from the 30th October 2002.
Annual Ground Rent £355.00
Annual Service Charge for 2024 is approximately £2,700.00

TEST VALLEY COUNCIL TAX:
Band: C, Price £1867.68 for the year 2024/25

Agent Details

Pearsons, Romsey

01794 514516

Next Steps?

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