2 Bed Flat, Single Let, Polegate, BN26 6BS, £155,000

Albert Road, Polegate, East Sussex, BN26 6BS - 1 views - 9 months ago

Leasehold
BTL
ROI: 1%
~68 m²
+1 photos

ValuationUndervalued

Sold Prices£149.9K - £295K
Sold Prices/m²£2.5K/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£189,100
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£38,750

Stamp Duty & Legal Fees

£5,850

Total Cash In

£44,600

 

 

Cash Out

 

Rent Range

£975 - £1,395

Rent Estimate

£689

Running Costs/mo

£642

Cashflow/mo

£47

Cashflow/yr

£562

ROI

1%

Gross Yield

5%

Local Sold Prices

22 sold prices from £149.9K to £295K, average is £184.9K. £2.5K/m² to £3.8K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£200K09/230.01 miFlat 6, Chiltern Court, Albert Road, Polegate, East Sussex BN26 6BS2
£157K04/220.07 miFlat 8, Chiltern Court, Albert Road, Polegate, East Sussex BN26 6BS2
£190K06/230.1 mi47, Brook Street, Polegate, East Sussex BN26 6BH2
£155K02/230.14 miFlat 52, Guardian Court, Brookside Avenue, Polegate, East Sussex BN26 6DW2
£149.9K04/210.14 miFlat 50, Guardian Court, Brookside Avenue, Polegate, East Sussex BN26 6DW2
£159.3K11/220.18 miFlat 4, Guardian Court, Brookside Avenue, Polegate, East Sussex BN26 6DW2
£165K05/220.19 mi8a, Gilda Crescent, Polegate, East Sussex BN26 6AN2
£170.5K10/220.29 miFlat 2, Hawthorn Court, Black Path, Polegate, East Sussex BN26 5BB2
£183K02/230.29 miFlat 15, Hawthorn Court, Black Path, Polegate, East Sussex BN26 5BB2
£185K12/230.29 miFlat 5, Hawthorn Court, Black Path, Polegate, East Sussex BN26 5BB2
£268K01/210.57 mi12, Spurway Park, Polegate, East Sussex BN26 5DQ2
£187K10/220.65 mi3, Lynholm Road, Polegate, East Sussex BN26 6JW2
£155K04/230.65 mi1a, Lynholm Road, Polegate, East Sussex BN26 6JW2
£184.9K12/200.66 mi34, The Millrace, Polegate, East Sussex BN26 5LP2
£184.9K12/200.66 mi34, The Millrace, Polegate, East Sussex BN26 5LP2
£184.9K12/200.66 mi34, The Millrace, Polegate, East Sussex BN26 5LP2
£295K07/210.69 mi7, Croft Close, Polegate, East Sussex BN26 5LE2
£190K05/210.87 mi8, Kensington Way, Polegate, East Sussex BN26 6FJ2
£190K04/210.87 mi88, Kensington Way, Polegate, East Sussex BN26 6FJ2
£183K06/210.87 mi32, Kensington Way, Polegate, East Sussex BN26 6FJ2
£188K09/210.87 mi30, Kensington Way, Polegate, East Sussex BN26 6FJ2
£200K04/220.87 mi104, Kensington Way, Polegate, East Sussex BN26 6FJ2

Local Rents

12 rents from £975/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,20012/240.07 miVictoria Road, Polegate2
£1,35003/250.09 mi-2
£1,20009/240.11 mi-2
£1,30012/240.15 mi-2
£97501/250.17 mi-2
£1,39512/240.27 miWestfield Close, Polegate, East Sussex2
£1,20009/240.32 mi-2
£1,10012/240.42 miPorters Way, Polegate2
£1,30003/250.42 mi-2
£1,25012/240.43 mi-2
£1,30012/240.45 miEastern Avenue, Polegate2
£1,20003/250.46 mi-2

Local Area Statistics

Population in BN26

11,451

Town centre distance

0.30 miles away

Nearest school

0.20 miles away

Nearest train station

0.24 miles away

 

 

Rental growth (12m)

+38%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £155,000

August 1, 2024

Floor Plans

Description

  • First floor flat +
  • Two bedrooms +
  • Fitted kitchen +
  • Garage +
  • Double glazed +
  • Perfect for investment or first time buyer +
  • Gas central heating +
  • Popular Polegate village +
  • Close to high street amenities +
  • Mainline station +

This first floor flat provides two bedrooms, a living room, fitted kitchen to include all the integrated appliances, bathroom/wc. There is also a gas fired central heating system with combi boiler, double glazing, entry phone and a garage at the rear of Chiltern Court.
The property can be sold with vacant possession or with the current tenant in place.
Investment opportunity with an approx Current Yield of 6.6% Gross. The property is currently tenanted on an Assured Shorthold Tenancy currently achieving £8,268 rental income per annum.
Polegate High Street has a variety of shops, medical centres, bus services and mainline railway station. Eastbourne is approximately 6 miles and there is also access close by to the A22 & A27 from Cophall Farm Roundabout.
Agent Notes- Successful buyers will be required to complete online identity checks provided by Lifetime Legal. The cost of these checks is £80 inc. VAT per purchase which is paid in advance, directly to Lifetime Legal. This charge verifies your identity in line with our obligations as agreed with HMRC and includes mover protection insurance to protect against the cost of an abortive purchase.

Agent Details

Leaders Sales, Eastbourne

01302 490634

Next Steps?

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