2 Bed Bungalow, Refurb/BRRR, Taunton, TA3 5QP, £200,000

West View, Creech St. Michael, Taunton, TA3 5QP - 1 views - 8 months ago

Sold STC

Refurb/BRRR

ROI: 4%

~69 m²

+12 photos

ValuationUndervalued

Sold Prices	£172K - £320K
Sold Prices/m²	£2.9K/m² - £4.8K/m²

Square Metres	~68.80 m²
Price/m²	£2.9K/m²
Value Estimate	£206,000£206,000
BMV	3%

End Value (After Refurb)	£235,508£235,508
Uplift in Value	+18%+18%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£50,000£50,000
Stamp Duty & Legal Fees	£11,200£11,200
Refurb Costs	£27,979£27,979
Bridging Loan Interest	£5,250£5,250
Total Cash In	£96,179£96,179

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£235,508£235,508
Mortgage (After Refinance)	£176,631£176,631
Mortgage LTV	75%75%
Cash Released	£26,631£26,631
Cash Left In	£69,548£69,548
Equity	£58,877£58,877
Rent Range	£595 - £2,700£595 - £2,700
Rent Estimate	£1,359
Running Costs/mo	£1,028£1,028
Cashflow/mo	£331£331
Cashflow/yr	£3,975£3,975
ROI	4%4%
Gross Yield	8%8%

Local Sold Prices

27 sold prices from £172K to £320K, average is £240K. £2.9K/m² to £4.8K/m², average is £3.8K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£190K	05/23	0.02 mi	21, West View, Creech St Michael, Taunton, Somerset TA3 5QP	-	-	2	Terraced House
£230K	11/22	0.02 mi	10, West View, Creech St Michael, Taunton, Somerset TA3 5QP	-	-	2	Semi-Detached House
£230K	12/20	0.04 mi	10, Homefield Close, Creech St Michael, Taunton, Somerset TA3 5QR	£3,966	58	2	Semi-Detached House
£220K	06/21	0.11 mi	9, Paddock Close, Creech St Michael, Taunton, Somerset TA3 5DZ	-	-	2	Semi-Detached House
£189.9K	06/21	0.12 mi	19, Alexander Close, Creech St Michael, Taunton, Somerset TA3 5DY	£3,392	56	2	Terraced House
£177.5K	06/21	0.12 mi	11, Alexander Close, Creech St Michael, Taunton, Somerset TA3 5DY	£3,287	54	2	Terraced House
£255K	12/22	0.12 mi	9, Alexander Close, Creech St Michael, Taunton, Somerset TA3 5DY	£4,250	60	2	Terraced House
£177.5K	06/21	0.12 mi	11, Alexander Close, Creech St Michael, Taunton, Somerset TA3 5DY	£3,287	54	2	Semi-Detached House
£247.5K	11/21	0.14 mi	46, West View, Creech St Michael, Taunton, Somerset TA3 5DU	-	-	2	Detached House
£267.5K	08/21	0.17 mi	83, West View, Creech St Michael, Taunton, Somerset TA3 5DX	-	-	2	Semi-Detached House
£237K	07/23	0.17 mi	93, West View, Creech St Michael, Taunton, Somerset TA3 5DX	£4,158	57	2	Semi-Detached House
£265K	11/22	0.21 mi	5, Cooks Close, Creech St Michael, Taunton, Somerset TA3 5EA	£4,141	64	2	Semi-Detached House
£235K	11/22	0.22 mi	13, Cooks Close, Creech St Michael, Taunton, Somerset TA3 5EA	£4,790	49	2	Terraced House
£172K	12/20	0.34 mi	1, Mill Cottages, Creech St Michael, Taunton, Somerset TA3 5PU	-	-	2	Terraced House
£240K	06/21	0.5 mi	Fern Cottage, Bull Street, Creech St Michael, Taunton, Somerset TA3 5PW	£2,940	82	2	Terraced House
£257K	05/21	0.63 mi	11, Overlands, Ruishton, Taunton, Somerset TA3 5JF	£3,779	68	2	Semi-Detached House
£195K	02/21	0.64 mi	51, Glebelands, Bathpool, Taunton, Somerset TA2 8FG	-	-	2	Semi-Detached House
£255K	02/21	0.66 mi	5, Carpenters Close, Ruishton, Taunton, Somerset TA3 5JE	£4,554	56	2	Semi-Detached House
£249.5K	05/24	0.76 mi	7, Virginia Orchard, Ruishton, Taunton, Somerset TA3 5LP	£3,465	72	2	Semi-Detached House
£310K	04/24	0.79 mi	9, Orchard Rise, Ruishton, Taunton, Somerset TA3 5JS	-	-	2	Bungalow
£255K	11/21	0.84 mi	Sunny Cottage, Charlton Road, Creech Heathfield, Taunton, Somerset TA3 5EJ	£3,643	70	2	Terraced House
£270K	02/23	0.84 mi	Lysvia, Charlton Road, Creech Heathfield, Taunton, Somerset TA3 5EJ	-	-	2	Semi-Detached House
£220K	11/20	0.84 mi	Sunny Cottage, Charlton Road, Creech Heathfield, Taunton, Somerset TA3 5EJ	£3,143	70	2	Terraced House
£211K	02/24	0.88 mi	18, Coronation Close, Ruishton, Taunton, Somerset TA3 5LD	£3,146	67	2	Semi-Detached House
£273K	08/21	0.88 mi	15, Heathfield Close, Creech Heathfield, Taunton, Somerset TA3 5EP	£4,015	68	2	Semi-Detached House
£320K	09/23	0.88 mi	10, Heathfield Close, Creech Heathfield, Taunton, Somerset TA3 5EP	-	-	2	Detached House
£310K	06/23	0.88 mi	15, Heathfield Close, Creech Heathfield, Taunton, Somerset TA3 5EP	£4,559	68	2	Semi-Detached House

Local Rents

51 rents from £595/mo to £2.7K/mo, average is £1.1K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,400	09/24	0.06 mi	Hyde Lane, Creech St. Michael, TA3	3	Flat
£1,350	07/24	0.21 mi	-	3	Detached House
£1,395	09/24	0.22 mi	-	3	Bungalow
£1,150	09/24	0.22 mi	Cooks Close, Creech St Michael TA3	2	Flat
£840	09/24	0.33 mi	-	2	Terraced House
£1,600	09/24	0.85 mi	-	4	Semi-Detached House
£1,250	09/24	1.03 mi	Monkton Heathfield, Taunton	3	Flat
£1,150	09/24	1.15 mi	-	3	Terraced House
£1,150	09/24	1.15 mi	-	3	Terraced House
£1,000	09/24	1.2 mi	Park Mead, Monkton Heathfield, TAUNTON	2	Flat
£850	09/24	1.27 mi	Allington Close, Taunton, TA1	1	Terraced House
£1,050	03/25	1.34 mi	-	2	Bungalow
£995	04/25	1.34 mi	-	2	Bungalow
£595	09/24	1.36 mi	Allington Close, TAUNTON, TA1	1	Flat
£595	09/24	1.36 mi	Allington Close, TAUNTON, TA1	1	Studio Flat
£1,350	09/24	1.42 mi	Creechberry Orchard, Taunton	3	Flat
£730	02/24	1.55 mi	-	1	Terraced House
£800	04/25	1.55 mi	-	1	Terraced House
£1,350	09/24	1.63 mi	Thames Drive, Taunton	3	Flat
£925	09/24	1.67 mi	Tyne Park, Taunton, Somerset	2	Terraced House
£1,050	09/24	1.73 mi	Redlake Drive, Taunton TA1	2	Terraced House
£1,150	09/24	1.79 mi	Beadon Road, TAUNTON	3	Flat
£1,200	09/24	1.8 mi	Ashbourne Crescent, Taunton	3	Detached House
£1,400	09/24	1.81 mi	Red Hill, West Monkton, TAUNTON	2	Flat
£1,250	09/24	1.82 mi	Ashbourne Crescent, Taunton	3	Detached House
£995	09/24	1.82 mi	Bowmont Grove, Taunton	2	Flat
£1,600	04/25	1.83 mi	-	4	Detached House
£1,100	07/24	1.83 mi	-	2	Semi-Detached House
£1,700	09/24	1.87 mi	-	4	Detached House
£995	09/24	1.88 mi	Ryburn Close, Taunton TA1	2	Detached House
£800	09/24	1.92 mi	-	1	Flat
£875	03/25	1.92 mi	-	1	Flat
£850	01/25	1.92 mi	-	1	Flat
£800	09/24	1.92 mi	-	1	Flat
£875	08/24	1.92 mi	-	1	Flat
£900	03/25	1.92 mi	-	1	Flat
£1,150	07/24	1.93 mi	-	3	Terraced House
£780	09/24	1.94 mi	Hamilton Court, TAUNTON	1	Flat
£995	11/24	1.94 mi	-	2	Terraced House
£1,300	09/24	1.95 mi	The Shaulders, Taunton,	3	Detached House
£1,000	09/24	1.96 mi	-	2	Terraced House
£1,200	09/24	1.97 mi	Standfast Place, Taunton, TA2	3	Flat
£1,100	04/25	1.99 mi	-	2	Semi-Detached House
£1,325	09/24	2 mi	Poplar Road, Taunton TA1	3	Detached House
£860	09/24	2.06 mi	Normandy Drive, Taunton	1	Flat
£1,475	09/24	2.06 mi	Rossiter Road, Taunton	3	Detached House
£1,200	09/24	2.11 mi	Parmin Way, TA1	3	Terraced House
£2,700	09/24	2.14 mi	-	2	Terraced House
£2,700	12/24	2.14 mi	-	2	Terraced House
£2,700	02/25	2.14 mi	-	2	Terraced House
£2,700	03/25	2.14 mi	-	2	Terraced House

Local Area Statistics

Population in TA3	14,21214,212
Population in Taunton	85,08885,088
Town centre distance	2.65 miles away2.65 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	2.75 miles away2.75 miles away

Rental growth (12m)	-16%-16%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+14%+14%

Property History

Listed for £200,000

August 7, 2024

Floor Plans

Description

End Terraced Bungalow +
In Need Of Modernisation +
Two Bedrooms +
Bathroom +
Lounge +
Kitchen +
Double Glazing +
Gas Central Heating +
Garage +
Large Corner Plot +

Exciting opportunity in Creech St. Michael! This two bedroom end terraced bungalow is nestled in a peaceful cul-de-sac, offering a large corner plot for potential expansion or landscaping. The property is in need of modernisation, allowing you to put your own stamp on it and create your dream home.

With no onward chain, this is the perfect chance to secure a property in a desirable location without any delays. Don't miss out on this fantastic investment opportunity!

Accommodation - This gas centrally heated (back boiler) bungalow briefly comprises: entrance hall, living room, kitchen, two bedrooms and bathroom. Outside, there is an extensive rear garden and a garage.

Location - The charming village of Creech St. Michael is just a short drive from Taunton. Perfect for families, this community offers a range of amenities including a primary school, village shop, doctor's surgery, churches, and a recreational park. Experience the warm and welcoming atmosphere of Creech St. Michael and join in on the local events and activities. Whether you're looking for a peaceful place to settle down or a friendly community to be a part of, Creech St. Michael has something for everyone.

Mortgage / Condition Statement - This property is steel framed and because of the current condition of this property, it may be difficult to secure a mortgage. We recommend consulting with your financial advisor to explore alternative financing options.

If you are determined to pursue a mortgage for this property, please proceed with caution as there may be additional financial risks involved. It is important to fully understand the implications and potential challenges before moving forward with any financing decisions.

Agent Details

Joseph Casson Estate Agency, Taunton

01823 213845

Next Steps?

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