4 Bed Bungalow, Refurb/BRRR, Helston, TR12 7JG, £500,000

11 PARK ENSKELLAW, MULLION, TR12 7JG - 9 months ago

Under Offer
Cash
Refurb/BRRR
~145 m²
+18 photos

ValuationOvervalued

Sold Prices£230K - £749K
Sold Prices/m²£2.4K/m² - £4.9K/m²

 

 

Square Metres

~145.30 m²
Price/m²£3.4K/m²

Value Estimate

£425,682

 

 

End Value (After Refurb)

£452,695

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£28,700

Refurb Costs

£63,400

Bridging Loan Interest

£13,125

Total Cash In

£231,975

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£452,695

Mortgage (After Refinance)

£339,521

Mortgage LTV

75%

Cash Left In

£231,975

Equity

£113,174

Rent Range

£550 - £1,800

Rent Estimate

£1,114

Running Costs/mo

£1,657

Cashflow/mo

£-543

Cashflow/yr

£-6,522

Gross Yield

3%

Local Sold Prices

16 sold prices from £230K to £749K, average is £425K. £2.4K/m² to £4.9K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£355K01/210.09 miTreganoon, Meres Valley, Mullion, Helston, Cornwall TR12 7HX4
£335K04/210.12 miTal An Vean, Polhorman Lane, Mullion, Helston, Cornwall TR12 7JD4
£572K11/220.21 mi25, Laflouder Fields, Mullion, Helston, Cornwall TR12 7HR4
£375K02/210.29 miTrotters Way, 11, Laflouder Fields, Mullion, Helston, Cornwall TR12 7EL4
£535K09/230.31 mi41, Laflouder Fields, Mullion, Helston, Cornwall TR12 7EJ4
£365K10/200.31 miLanarth, Laflouder Fields, Mullion, Helston, Cornwall TR12 7EJ4
£555K03/240.36 miThe Poppies, Churchtown, Mullion, Helston, Cornwall TR12 7HN4
£350K12/200.38 mi4, Riviera Close, Mullion, Helston, Cornwall TR12 7AW4
£275K12/220.48 mi9, Trembel Road, Mullion, Helston, Cornwall TR12 7DY4
£230K03/210.51 mi15, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX4
£475K12/220.56 miRosalea, Glenmoor Lane, Mullion, Helston, Cornwall TR12 7EF4
£515K12/220.58 miRosemorran, Glenmoor Lane, Mullion, Helston, Cornwall TR12 7EF4
£749K01/240.58 miTrenance Vean, Glenmoor Lane, Mullion, Helston, Cornwall TR12 7EF4
£360K11/200.59 mi14, Gwel An Garrek, Mullion, Helston, Cornwall TR12 7RW4
£655K06/210.84 miMeaver House, Meaver Road, Mullion, Helston, Cornwall TR12 7DP4
£540K03/211.5 miHigher Penvearne, White Cross, Cury, Helston, Cornwall TR12 7BH4

Local Rents

12 rents from £550/mo to £1.8K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,80009/240.11 mi-4
£1,20002/250.4 mi-2
£70009/240.41 miTreveglos Court, Lender Lane, Mullion, Helston1
£82509/240.41 mi-2
£95003/250.41 mi-2
£1,45012/241.1 mi-3
£1,40009/241.1 mi-3
£1,10009/241.43 mi-1
£1,15001/252.11 mi-2
£55010/242.11 mi-1
£1,15001/252.11 mi-2
£90009/242.22 miCury, Helston2

Local Area Statistics

Population in TR12

9,482

Population in Helston

29,289

Town centre distance

4.82 miles away

Nearest school

0.40 miles away

Nearest train station

11.20 miles away

 

 

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+64%

Property History

Listed for £500,000

July 18, 2024

Floor Plans

Description

  • GARAGE AND GARDEN +
  • ENSUITE MASTER BEDROOM +
  • ELECTRIC HEATING +
  • DOUBLE GLAZING +

Although in need of some updating to realise its full potential the property offers the basis of a lovely home in a super position with grounds and gardens at the rear that enjoy a view to the sea.
The property is warmed by electric heating and is double glazed.

The accommodation in brief comprises an entrance porch, spacious hallway, lounge/diner with sliding doors that lead out onto the garden and enjoys the rural and sea views, fitted kitchen, cloakroom and a family bathroom. There are four generous bedrooms, the master of which has an ensuite shower room.

To the outside there is a driveway with parking that leads to the garage whilst to the rear and a real feature of the property is a lovely garden with a portion of the field beyond which is in ownership of the property with a view to the sea in the distance.

Mullion itself is the largest village on The Lizard Peninsula which is home to Britain's most southerly point. It is officially designated as an area of outstanding natural beauty, from sheltered valleys to moorland with superb countryside and framed by its rugged coastline.

Mullion is a bustling village offering a good range of facilities including shops, Co-operative supermarket, well regarded primary and comprehensive schools and a nursery. The village is home to an attractive harbour, a beach at Polurrian Cove, health centre and pharmacy. The Polurrian Hotel has a leisure club with indoor swimming pool and the Mullion Cove Hotel also has spa facilities. Nearby is the beautiful sandy beach at Poldhu and a super 18 hole links golf course. More extensive amenities are available in the nearby town of Helston, some six miles distant, with supermarkets and national stores.

THE ACCOMMODATION COMPRISES (DIMENSIONS APPROX)

GLAZED DOOR TO

ENTRANCE PORCH
With stone flooring and glazed door to

ENTRANCE HALLWAY
With storage cupboard and further cupboard which houses the immersion heater. With doors to

LOUNGE//DINER
Being "L" shaped.

LOUNGE AREA 6.33M X 3.13M (20'9" X 10'3")
A lovely airy space with stone fireplace with wood mantel over (not known if working). Glazed sliding patio doors with glazed side panels which enjoy a lovely view over the garden, the field and the sea in the distance.

DINING AREA 3.71M X 2.79M (12'2" X 9'1")
With window to the front aspect and door back to the

KITCHEN 3.4M X 3.06M (11'1" X 10'0")
Comprising fitted kitchen with worktops that incorporate a stainless steel sink drainer and ceramic hob with hood over. There are a mixture of base and drawer units under with wall cupboards over, built in double oven, breakfast bar arrangements and window to the front aspect. There are service doors both back to the dining room and into the hallway.

MASTER BEDROOM 3.6M X 3.19M (11'9" X 10'5")
With a window to the front aspect overlooking the garden, field and the sea in the distance. Built in wardrobe, built in drawer units with vanity area and door to

ENSUITE SHOWER ROOM
With walk in shower cubicle with electric shower over and easy clean splashback, pedestal wash hand basin, close coupled w.c., electric towel rail, electric downflow heater, extractor, shaver socket, mirror and light.

BEDROOM TWO 4.18M X 2.55M (13'8" X 8'4")
With a window to the rear aspect overlooking the garden and enjoying the views.

BEDROOM THREE 3.49M X 3.1M (11'5" X 10'2")
With two built in wardrobes and window to the front aspect.

BEDROOM FOUR 4.18M X 3.55M (13'8" X 11'7")
With a window to the front aspect.

BATHROOM
With suite that comprises a paneled bath with electric shower and tiled splashback, wash hand basin with vanity unit over, shaver socket, close coupled w.c., electric towel rail, electric downflow heater, obscured window to the side aspect and tiling to the walls.

OUTSIDE
To the front of the property there is a driveway with parking for at least two vehicles that leads to the attached -

GARAGE 5.36M X 2.84M (17'7" X 9'3")
With up and over door, power, light, eaves storage, mains consumer unit and window and service door to the rear.

REAR GARDEN
Being a real feature of this property with fences and Cornish stone walls at its border and planted with a variety of mature plants and shrubs. There is a lawn, patio seating area all of which enjoys a wonderful view out over the field onwards to open countryside with the sea in the distance. A perfect spot to watch the ships go by on the horizon. There is a gate that leads out onto the field and a useful shed.

AGENTS NOTE ONE
The preferred side of Park Enskellaw has the field which runs adjacent to the five bungalows with each property being in ownership of the strip of land which runs in front of it. There is a restrictive covenant on the land to protect properties' privacy and view which states that no building is permitted and no planting of over three feet in height. Further details are available from the agent.

AGENTS NOTE TWO
We are advised the property is of a timber frame construction.

SERVICES
Mains electricity, water and drainage.

COUNCIL TAX BAND
Band E

ANTI MONEY LAUNDERING REGULATIONS - PURCHASER
We are required by law to ask all purchasers for verified ID prior to instructing a sale.

PROOF OF FUNDS - PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an agreement in principle for a mortgage and/or proof of cash funds.

DATE DETAILS PREPARED
11th July 2024

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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