2 Bed Flat, Single Let, Southampton, SO18 4ST, £100,000

Summit Way, Midanbury, Southampton, SO18 4ST - 6 views - 9 months ago

Leasehold
BTL
ROI: 19%
~68 m²

ValuationUndervalued

Sold Prices£100K - £212K
Sold Prices/m²£1.8K/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£122,000
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Total Cash In

£29,200

 

 

Cash Out

 

Rent Range

£825 - £1,450

Rent Estimate

£995

Running Costs/mo

£532

Cashflow/mo

£464

Cashflow/yr

£5,562

ROI

19%

Gross Yield

12%

Local Sold Prices

50 sold prices from £100K to £212K, average is £165.5K. £1.8K/m² to £4K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£123K04/230 mi4, Summit Way, Southampton SO18 4ST2
£169K05/210.07 mi33, Vale Drive, Southampton SO18 4SW2
£165K05/230.07 mi30, Witts Hill, Southampton SO18 4QF2
£125K06/210.21 mi25, Neva Road, Southampton SO18 4FH2
£177.5K01/210.26 miFlat 20, Deepdene, Midanbury Lane, Southampton SO18 4TQ2
£185K09/210.26 miFlat 21, Deepdene, Midanbury Lane, Southampton SO18 4TQ2
£180K04/230.33 mi34, Cornwall Road, Southampton SO18 2QZ2
£160K11/200.33 miFlat 7, Castle Heights, Castle Road, Midanbury, Southampton SO18 1TY2
£133K08/210.35 mi137, Vanguard Road, Southampton SO18 2EH2
£135K11/200.37 mi26, Middleton Close, Southampton SO18 2FP2
£127K07/210.38 mi191, Wavell Road, Southampton SO18 4SG2
£132K04/210.4 mi9, Dyneley Green, Southampton SO18 2EZ2
£212K04/230.4 mi23a, Hillside Avenue, Bitterne Park, Southampton SO18 1LD2
£120K06/230.41 mi30, Hood Road, Southampton SO18 5PD2
£125K04/210.41 mi159, Wavell Road, Bitterne, Southampton SO18 4SF2
£137K12/220.42 mi7, Meggeson Avenue, Southampton SO18 2ET2
£130K01/210.42 mi3, Meggeson Avenue, Southampton SO18 2ET2
£168K12/200.45 mi11a, St Catherines Road, Southampton SO18 1LL2
£156K04/210.47 miFlat 3, Christine Court, Cobbett Road, Bitterne Park, Southampton SO18 1RD2
£180K12/220.47 mi27, Moorlands Crescent, Southampton SO18 5QS2
£155K03/210.47 mi32a, St Catherines Road, Southampton SO18 1LJ2
£177K11/210.47 mi117a, Woodmill Lane, Southampton SO18 2PE2
£195K12/220.48 miFlat 22, Eastside Court, Langstaff Way, Southampton SO18 6NP2
£180K03/230.48 miFlat 20, Eastside Court, Langstaff Way, Southampton SO18 6NP2
£165K04/210.48 miFlat 12, Eastside Court, Langstaff Way, Southampton SO18 6NP2
£175K03/230.51 miFlat 4, Beech Court, Beech Avenue, Southampton SO18 4TS2
£205K05/210.56 mi68, Riverdene Place, Southampton SO18 1UH2
£202K09/230.56 mi18, Riverdene Place, Southampton SO18 1UG2
£190K06/210.59 mi3, Lingfield Gardens, Southampton SO18 2QG2
£200K02/230.59 mi21, Lingfield Gardens, Southampton SO18 2QG2
£140K04/210.62 miFlat 10, Grenville Court, Old Farm Drive, Southampton SO18 2QH2
£198K04/230.63 mi158, Woodmill Lane, Southampton SO18 2PF2
£188K10/210.63 mi152, Woodmill Lane, Southampton SO18 2PF2
£160K12/200.63 mi150, Woodmill Lane, Southampton SO18 2PF2
£195K09/210.63 mi9, Harbourne Gardens, West End, Southampton, Hampshire SO18 3LY2
£155K12/200.66 mi79c, Commercial Street, Southampton SO18 6AD2
£130K02/210.68 miFlat 21, Fir Tree Court, West End Road, Southampton SO18 6RW2
£100K06/210.7 miFlat 3, Charles Court, Forest Hills Drive, Southampton SO18 2FY2
£159K01/210.77 mi22, Portway Close, Bitterne, Southampton SO18 5SW2
£170K07/230.78 mi217, Priory Road, St Denys, Southampton SO17 2LR2
£170K07/230.78 miFlat 10, Charden Court, York Drove, Bitterne, Southampton SO18 5LZ2
£195K06/230.8 miFlat 19, St Michaels Court, Priory Close, Southampton SO17 2FR2
£153K12/220.8 mi43, Redcote Close, Southampton SO18 5SU2
£145K08/210.87 mi72b, Bitterne Road West, Southampton SO18 1AP2
£186K12/200.89 mi10, Rostron Close, West End, Southampton, Hampshire SO18 3AF2
£166K07/230.92 mi2c, Edwina Close, Southampton SO19 7BJ2
£167K08/210.95 mi100b, Adelaide Road, Southampton SO17 2HX2
£127.5K04/210.96 mi40, Keynsham Road, Southampton SO19 5EW2
£163K03/210.97 mi12a, The Drive, West End, Southampton, Hampshire SO30 3AN2
£183K08/210.97 mi11, The Drive, West End, Southampton, Hampshire SO30 3AN2

Local Rents

41 rents from £825/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,00011/240.06 mi-2
£1,27509/240.09 miWitts Hill, SOUTHAMPTON2
£89509/240.19 miLitchfield Road, Southampton2
£1,20009/240.23 miMidanbury Lane, Bitterne Park2
£1,25009/240.23 miMidanbury Lane, Midanbury2
£1,37510/240.24 mi-2
£1,15009/240.25 miLitchfield Road SILVER SUB, Midanbury, Southampton, Hampshire, SO182
£1,10012/240.25 mi-2
£1,00004/250.25 mi-2
£1,25009/240.29 miWycliffe Road, Midanbury, Southampton2
£1,40009/240.32 mi-2
£1,40009/240.33 miOnibury Road, SOUTHAMPTON2
£1,20009/240.36 miCobden Avenue, Southampton, Hampshire, SO182
£1,22509/240.36 mi-2
£1,22509/240.36 miWoodlands Court, Southampton, SO182
£1,20010/240.37 mi-2
£1,15002/250.37 mi-2
£1,05009/240.37 miMiddleton Close, SOUTHAMPTON2
£1,10009/240.37 miMiddleton Close, SOUTHAMPTON2
£82502/240.37 mi-2
£1,10012/240.37 mi-2
£1,10012/240.39 mi-2
£99501/250.4 mi-2
£99509/240.41 miBitterne Park2
£1,20002/250.45 mi-2
£1,10009/240.47 miMidanbury Lane, Southampton, SO182
£1,00009/240.48 mi-2
£1,10010/240.48 mi-2
£1,25009/240.5 miBullar Road, SOUTHAMPTON2
£92508/240.52 mi-2
£1,27509/240.54 miAdur Close, West End2
£1,10009/240.56 miAsh Tree Road, SO182
£1,20009/240.56 miRiverdene Place, Bitterne Park2
£1,05009/240.56 miRiverdene Place, Bitterne Park, Southampton2
£1,20009/240.57 miBullar Road, Southampton2
£1,20009/240.59 miPound Street SILVER SUB, Bitterne, Southampton, Hampshire, SO182
£85003/250.6 mi-2
£1,20002/250.6 mi-2
£95009/240.6 miWhitworth Crescent, Southampton2
£1,07509/240.6 miBullar Road, Southampton, SO182
£1,45009/240.6 mi-2

Local Area Statistics

Population in SO18

36,538

Population in Southampton

428,247

Town centre distance

1.28 miles away

Nearest school

0.30 miles away

Nearest train station

0.71 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Seller's market

Capital growth (5yrs)

+19%

Property History

Listed for £100,000

July 29, 2024

Floor Plans

Description

  • Sought After Location +
  • Duplex +
  • Two Bedrooms +
  • Close To Amenities +

The Property
* TWO-BEDROOM DUPLEX IN SOUGHT-AFTER LOCATION*

Purplebricks is delighted to offer this two-bedroom duplex property in a cul-de-sac location in Midanbury that needs updating.

The property benefits from two bedrooms, a lounge, a fitted kitchen, a bathroom, double glazing and underfloor heating.

*Please click brochure button near the bottom of the Rightmove advert or visit the Purplebricks website to book a viewing 24 hours a day*

Location
Location benefiting from being within the catchment of the highly rated Bitterne Park School.

Situated close to all local amenities including Bitterne, Woolston as well as Southampton City Centre itself.

Nearby is riverside park and woodmill.

Good access routes to the motorway links M3 & M27, Southampton Airport and Parkway Railway Station, which is the direct line to London.

Also there are excellent bus routes servicing all the above areas.

A short drive away is Hedge End retail park with Marks & Spencer and Sainsbury.

General Information
Further Information:

Tenure: Freehold

Council: Southampton City Council.

Council Tax: A

Infant & Junior School: Moorlands Primary

Secondary School: Bitterne Park School

Riverside Park & Woodmill Activity Centre is within a short distance.

Heating: Gas Central Heating

Windows: Double Glazed Windows

*Viewing: By Appointment Only*

*Please click brochure button near the bottom of the Rightmove advert or visit the Purplebricks website to book a viewing 24 hours a day*

Property ownership information

Ground rent review period: No review period

Service charge review period: No review period

Lease end date: 01/01/2115

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Southampton

020 3909 9760

Next Steps?

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