2 Bed Flat, Single Let, Newport, PO30 1RH, £133,000

Newport, Isle of Wight, PO30 1RH - 9 months ago

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Leasehold

BTL

ROI: 8%

~68 m²

+9 photos

ValuationUndervalued

Sold Prices	£110K - £331K
Sold Prices/m²	£1.8K/m² - £3.5K/m²

Square Metres	~68.11 m²
Price/m²	£2K/m²
Value Estimate	£162,260£162,260
BMV	22%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£33,250£33,250
Stamp Duty & Legal Fees	£5,190£5,190
Total Cash In	£38,440£38,440

Cash Out
Rent Range	£750 - £1,250£750 - £1,250
Rent Estimate	£850
Running Costs/mo	£606£606
Cashflow/mo	£244£244
Cashflow/yr	£2,933£2,933
ROI	8%8%
Gross Yield	8%8%

Local Sold Prices

25 sold prices from £110K to £331K, average is £142.5K. £1.8K/m² to £3.5K/m², average is £2.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£116K	12/20	0 mi	11, Chandler Close, Newport, Isle Of Wight PO30 1RH	£2,148	54	2	Flat
£125K	03/21	0.33 mi	Flat 7, Field Court, Carisbrooke Road, Newport, Isle Of Wight PO30 1DA	-	-	2	Flat
£275K	09/21	0.36 mi	1, Hinton Road, Newport, Isle Of Wight PO30 5QZ	-	-	2	Flat
£245K	03/21	0.47 mi	13, Fieldfare Road, Newport, Isle Of Wight PO30 5YB	-	-	2	Flat
£145K	10/20	0.47 mi	28, Sydney Close, Newport, Isle Of Wight PO30 1YG	£2,458	59	2	Flat
£142.5K	03/21	0.47 mi	13, Sydney Close, Newport, Isle Of Wight PO30 1YG	£2,500	57	2	Flat
£145K	02/21	0.47 mi	26, Sydney Close, Newport, Isle Of Wight PO30 1YG	£2,544	57	2	Flat
£126K	08/22	0.51 mi	Flat 7, Linington Court, Union Street, Newport, Isle Of Wight PO30 1RS	-	-	2	Flat
£157K	11/22	0.53 mi	Flat 2, Shide Court, Shide Road, Newport, Isle Of Wight PO30 1YJ	-	-	2	Flat
£155K	03/23	0.58 mi	34b, Hearn Street, Newport, Isle Of Wight PO30 5EH	£2,818	55	2	Flat
£270K	05/21	0.62 mi	Flat 48, Somers Brook Court, Foxes Road, Newport, Isle Of Wight PO30 5UN	-	-	2	Flat
£150K	01/24	0.62 mi	Somers Brook Court, Flat 47, Foxes Road, Newport, Isle Of Wight PO30 5UN	£1,948	77	2	Flat
£130K	01/24	0.62 mi	Somers Brook Court, Flat 40, Foxes Road, Newport, Isle Of Wight PO30 5UN	£1,806	72	2	Flat
£115K	11/21	0.64 mi	Flat 39, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA	-	-	2	Flat
£125.5K	09/22	0.64 mi	Flat 10, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA	-	-	2	Flat
£125K	05/23	0.64 mi	Flat 26, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA	-	-	2	Flat
£129K	07/23	0.87 mi	6, Redver Gardens, Newport, Isle Of Wight PO30 5JJ	£2,941	44	2	Flat
£215K	08/21	1.31 mi	Flat 1, Blackwater House, Blackwater Road, Newport, Isle Of Wight PO30 3BE	-	-	2	Flat
£174K	05/21	1.31 mi	Flat 2, Blackwater House, Blackwater Road, Newport, Isle Of Wight PO30 3BE	-	-	2	Flat
£175K	08/21	1.36 mi	108, Staplers Road, Newport, Isle Of Wight PO30 2GD	£2,917	60	2	Flat
£331K	05/21	1.48 mi	2, Buckbury Close, Newport, Isle Of Wight PO30 2NN	£3,521	94	2	Flat
£110K	09/23	1.6 mi	18, Harris Road, Newport, Isle Of Wight PO30 5NN	£2,340	47	2	Flat
£125K	09/23	1.6 mi	17, Harris Road, Newport, Isle Of Wight PO30 5NN	£2,976	42	2	Flat
£120K	07/21	1.72 mi	Flat 28, The Lawns, Fairlee Road, Newport, Isle Of Wight PO30 2PT	-	-	2	Flat
£137.5K	05/23	1.72 mi	Flat 28, The Lawns, Fairlee Road, Newport, Isle Of Wight PO30 2PT	-	-	2	Flat

Local Rents

21 rents from £750/mo to £1.3K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£925	12/24	0.35 mi	-	2	Semi-Detached House
£975	06/24	0.38 mi	Newport, Isle Of Wight	2	Terraced House
£850	06/24	0.46 mi	-	2	Bungalow
£825	06/24	0.46 mi	New Street Newport PO30	2	Terraced House
£750	06/24	0.5 mi	Cross Street, Newport	2	Flat
£825	03/25	0.5 mi	-	2	Flat
£850	06/24	0.53 mi	Upper St. James Street, Newport	2	Flat
£950	02/25	0.61 mi	-	2	Flat
£950	12/24	0.63 mi	High Street, Newport	2	Flat
£1,250	12/24	0.64 mi	-	2	Terraced House
£950	06/24	0.73 mi	Kestrel Way, Newport	2	Detached House
£1,200	12/24	0.73 mi	-	2	Flat
£1,250	01/25	0.73 mi	-	2	Flat
£950	03/25	0.77 mi	-	2	Terraced House
£950	01/25	0.78 mi	-	2	Terraced House
£975	06/24	0.82 mi	Newport, Isle Of Wight	2	Terraced House
£950	01/25	0.87 mi	-	2	Terraced House
£1,025	06/24	0.88 mi	Ash Road, Newport	2	Detached House
£975	06/24	0.93 mi	Green Street, Newport	2	Semi-Detached House
£1,025	01/25	1.03 mi	-	2	Terraced House
£875	06/24	1.06 mi	Staplers Road, Newport	2	Flat

Local Area Statistics

Population in PO30	29,06529,065
Population in Newport	229,937229,937
Town centre distance	122.02 miles away122.02 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	6.67 miles away6.67 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+25%+25%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+21%+21%

Property History

Listed for £133,000

August 2, 2024

Floor Plans

Description

Ground Floor Flat +
2 Bedrooms +
Residents Parking +
Lounge and Separate Kitchen +
Ideal First Purchase or Buy to Let +

This bright and sunny, ground floor apartment offers spacious accommodation throughout, and is in 'ready to move into' condition.

The property should be an appealing choice for first time buyers, buy to let landlords, or for those of you downsizing to a modern and low maintenance home.

Situated within easy reach of the town centre, schools, supermarkets and shops, it is a convenient place to live for all the family.

Internally, the apartment comprises a 14ft lounge/diner, 11ft kitchen, bathroom and two generously sized bedrooms. Outside, there is residents parking and communal gardens.

Local Authority - Isle of Wight Council
Council Tax Band - B
Tenure - Leasehold

Agent Details

Trigghomes, Newport

01983 525710

Next Steps?

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

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