2 Bed Terraced House, Refurb/BRRR, Salisbury, SP2 7BS, £215,000

6 Clifton Road, Salisbury, SP2 7BS - 1 views - 8 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 1%
78 m²
+2 photos

ValuationUndervalued

Sold Prices£182.5K - £325K
Sold Prices/m²£2.6K/m² - £6.2K/m²

 

 

Square Metres

78 m²
Price/m²£2.8K/m²

Value Estimate

£221,450
BMV3%

 

 

End Value (After Refurb)

£233,155

Uplift in Value

+8%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£53,750

Stamp Duty & Legal Fees

£7,650

Refurb Costs

£31,871

Bridging Loan Interest

£5,644

Total Cash In

£100,665

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£233,155

Mortgage (After Refinance)

£174,866

Mortgage LTV

75%

Cash Released

£13,616

Cash Left In

£87,048

Equity

£58,289

Rent Range

£800 - £1,600

Rent Estimate

£1,089

Running Costs/mo

£966

Cashflow/mo

£123

Cashflow/yr

£1,471

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £182.5K to £325K, average is £241.5K. £2.6K/m² to £6.2K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£246K10/200.02 mi28, Clifton Road, Salisbury, Wiltshire SP2 7BS2
£220K05/210.05 mi48, Devizes Road, Salisbury, Wiltshire SP2 7AD2
£280K08/230.05 mi25, Ashley Road, Salisbury, Wiltshire SP2 7BZ2
£189.9K09/210.06 mi2, Gas Lane, Salisbury, Wiltshire SP2 7AN2
£220K03/230.06 mi3, Gas Lane, Salisbury, Wiltshire SP2 7AN2
£270K02/230.08 mi25, Sidney Street, Salisbury, Wiltshire SP2 7AJ2
£215K04/230.09 mi4, Charles Street, Salisbury, Wiltshire SP2 7AW2
£222.5K01/210.1 mi4, James Street, Salisbury, Wiltshire SP2 7AL2
£240K03/210.11 mi19, Kingsland Road, Salisbury, Wiltshire SP2 7DQ2
£275K02/230.12 mi20, George Street, Salisbury, Wiltshire SP2 7BA2
£215K10/200.12 mi14, George Street, Salisbury, Wiltshire SP2 7BA2
£280K06/230.14 mi37, Ashley Road, Salisbury, Wiltshire SP2 7DD2
£240K05/230.15 mi52, York Road, Salisbury, Wiltshire SP2 7AT2
£248K04/230.18 mi4, Middleton Road, Salisbury, Wiltshire SP2 7AY2
£250K09/210.19 mi6, St Pauls Road, Salisbury, Wiltshire SP2 7AG2
£217K07/210.19 mi18, Russell Road, Salisbury, Wiltshire SP2 7LR2
£185.3K05/210.19 mi70, Russell Road, Salisbury, Wiltshire SP2 7LR2
£265K01/230.2 mi113, Devizes Road, Salisbury, Wiltshire SP2 7LS2
£225.5K11/210.2 mi149, Devizes Road, Salisbury, Wiltshire SP2 7LS2
£256K12/220.2 mi8, Windsor Road, Salisbury, Wiltshire SP2 7DX2
£250K12/200.2 mi30, St Pauls Road, Salisbury, Wiltshire SP2 7BH2
£227.5K01/210.32 mi14, Dews Road, Salisbury, Wiltshire SP2 7SN2
£232K02/210.33 mi14, Ashfield Road, Salisbury, Wiltshire SP2 7EW2
£265K08/210.37 mi15, South Street, Salisbury, Wiltshire SP2 7SE2
£271K04/230.38 mi7, South Street, Salisbury, Wiltshire SP2 7SE2
£190K08/210.38 mi60, Sarum Close, Salisbury, Wiltshire SP2 7LF2
£235K03/230.38 mi59, Sarum Close, Salisbury, Wiltshire SP2 7LF2
£243K02/230.38 mi57, Sarum Close, Salisbury, Wiltshire SP2 7LF2
£182.5K04/210.39 mi292, Devizes Road, Salisbury, Wiltshire SP2 7NB2
£325K01/230.39 mi14, Water Lane, Salisbury, Wiltshire SP2 7TE2
£245K06/210.39 mi14, Water Lane, Salisbury, Wiltshire SP2 7TE2
£200K12/200.41 mi17, Montgomery Gardens, Salisbury, Wiltshire SP2 7UG2
£260K08/210.41 mi12, Butts Road, Salisbury, Wiltshire SP1 3ND2
£237.5K06/210.42 mi13, Hamilton Road, Salisbury, Wiltshire SP1 3TF2
£240K03/230.42 mi32, Nursery Road, Salisbury, Wiltshire SP2 7HX2
£275K03/210.44 mi15, Gorringe Road, Salisbury, Wiltshire SP2 7HZ2
£240K03/210.44 mi11a, Gorringe Road, Salisbury, Wiltshire SP2 7HZ2
£295K09/210.44 mi37, Hamilton Road, Salisbury, Wiltshire SP1 3TF2
£275K10/200.44 mi57, Hamilton Road, Salisbury, Wiltshire SP1 3TF2
£225K06/210.45 mi40, Gorringe Road, Salisbury, Wiltshire SP2 7JA2
£220K05/210.54 mi9, Orchard Road, Salisbury, Wiltshire SP2 7JE2
£290K11/220.54 mi54, Hudson Road, Salisbury, Wiltshire SP1 3LR2
£245K10/200.54 mi30, Hudson Road, Salisbury, Wiltshire SP1 3LR2
£253K12/210.56 mi11, Stratford Road, Salisbury, Wiltshire SP1 3JL2
£194K02/210.59 mi3, Cecil Terrace, Salisbury, Wiltshire SP2 9ND2
£290K06/210.59 mi25, Capulet Road, Salisbury, Wiltshire SP1 3JY2
£290K06/210.59 mi25, Capulet Road, Salisbury, Wiltshire SP1 3JY2
£290K06/210.59 mi25, Capulet Road, Salisbury, Wiltshire SP1 3JY2
£227K05/210.63 mi3, Wyndham Park, Salisbury, Wiltshire SP1 3BA2
£240K03/210.64 mi78, Stratford Road, Salisbury, Wiltshire SP1 3JS2

Local Rents

29 rents from £800/mo to £1.6K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,10009/240.08 miSALISBURY - Ashley Road2
£82507/240.08 mi-2
£1,00009/240.09 miSidney Street, Salisbury2
£89509/240.1 mi-2
£95009/240.11 miMeadow Road, Salisbury, SP22
£1,25004/250.12 mi-2
£1,30010/240.12 mi-2
£1,05012/230.15 mi-2
£87509/240.16 miGeorge Street, Salisbury, Wiltshire2
£1,10009/240.18 miGeorge Street, Salisbury2
£99511/240.25 mi-2
£99509/240.26 miFrancis Court, Spire View2
£95009/240.26 miSalisbury2
£99509/240.29 mi-2
£1,40012/230.31 mi-2
£1,40012/230.31 mi-2
£80003/250.32 mi-2
£1,10009/240.32 miChurchfields Road, Salisbury2
£1,10009/240.33 miChurchfields Road, SALISBURY2
£1,05002/250.33 mi-2
£1,00009/240.35 miSalisbury2
£1,20009/240.35 miFisherton Street, Salisbury 2
£1,20009/240.43 miNursery Road, Salisbury2
£1,20009/240.43 miNursery Road, Salisbury2
£1,30009/240.47 miIndia Avenue, Salisbury2
£1,10009/240.48 miCherry Close, Salisbury, Wiltshire, SP2 7JD2
£95009/240.49 miCherry Close, SALISBURY2
£1,05009/240.51 miStratford Road, Salisbury2
£1,60009/240.59 miEndless Street Salisbury SP12

Local Area Statistics

Population in SP2

28,823

Population in Salisbury

93,605

Town centre distance

0.46 miles away

Nearest school

0.20 miles away

Nearest train station

0.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+11%

Sales demand

Seller's market

Capital growth (5yrs)

+18%

Property History

Listed for £215,000

August 15, 2024

Floor Plans

Description

A classic Victorian terraced house with a lovely garden.
The property was built in 1897 of brick elevations under a tile roof and has gas central heating and double glazing. It would benefit from some modernisation but has a lovely garden and is offered with vacant possession.
The house is located on the Western edge of the City Centre within walking distance of the train station, schools, the market square and good shopping and educational facilities.
THE PROPERTY IS BEING SOLD EXPLICITLY ON A LEASEHOLD BASIS WITH AN UNEXPIRED TERM OF 872 YEARS. THE SELLER IS OFFERING AN ABSENT LANDLORD INDEMNITY POLICY AS THE FREEHOLDER CANNOT BE CONFIRMED.

Directions - From the city centre proceed up the Devizes Road, Clifton Road is the third turning on the right an number 6 can be found on the right hand side.

Entrance Hall - Radiator. Stairs to first floor.

Sitting Room - 2.95m max x 4.4m max (9'8" max x 14'5" max) - Fireplace. Radiator. television aerial point. Bay window.

Dining Room - 3.96m x 3.13m (12'11" x 10'3") - Radiator. Built in cupboard. Tiled fireplace.

Kitchen - 3.03m x 2.11m (9'11" x 6'11") - Single drainer sink unit. Range of matching base and wall units. Plumbing and space for washing machine. Electric cooker. Larder. Door to rear garden.

First Floor Landing - Airing cupboard and storage cupboard housing Vaillant boiler. Access to loft.

Bedroom One - 3.90 x 3.78m (12'9" x 12'4") - Radiator. Cupboard.

Bedroom Two - 3.9m x 2.27m (12'9" x 7'5") - Radiator.

Bathroom - Panelled bath with shower over and screen. WC and wash hand basin. Extractor fan. Part tiled walls.

Outside - Large rear garden comprising flower beds, lawn and a decked area. Outside WC and coal hole.

Agents Note - THE PROPERTY IS BEING SOLD EXPLICITLY ON A LEASEHOLD BASIS WITH AN UNEXPIRED TERM OF 872 YEARS. THE SELLER IS OFFERING AN ABSENT LANDLORD INDEMNITY POLICY AS THE FREEHOLDER CANNOT BE CONFIRMED. ANY POTENTIAL BUYER MUST CHECK WITH THEIR MORTGAGE LENDER THAT THIS IS ACCEPTABLE.

Agent Details

Venditum, Netherhampton

01722 449933

Next Steps?

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