2 Bed Bungalow, Cash/Bridging Only, Taunton, TA1 5AQ, £215,000

40 Galmington Drive, Taunton, TA1 5AQ - 8 months ago

Sold STC
Cash
ROI: 1%
~67 m²
+9 photos

ValuationFair Value

Sold Prices£132.5K - £875K
Sold Prices/m²£2.5K/m² - £6.2K/m²

 

 

Square Metres

~66.89 m²
Price/m²£3.2K/m²

Value Estimate

£219,300

 

 

End Value (After Refurb)

£236,469

Uplift in Value

+10%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£53,750

Stamp Duty & Legal Fees

£13,750

Refurb Costs

£27,202

Bridging Loan Interest

£5,644

Total Cash In

£102,096

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£236,469

Mortgage (After Refinance)

£177,352

Mortgage LTV

75%

Cash Released

£16,102

Cash Left In

£85,994

Equity

£59,117

Rent Range

£650 - £1,300

Rent Estimate

£1,029

Running Costs/mo

£965

Cashflow/mo

£64

Cashflow/yr

£771

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £132.5K to £875K, average is £275K. £2.5K/m² to £6.2K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£243K03/210.04 mi3, Kilmorie Close, Taunton, Somerset TA1 5AJ2
£262.5K12/230.04 mi4, Kilmorie Close, Taunton, Somerset TA1 5AJ2
£288.5K12/230.04 mi8, Kilmorie Close, Taunton, Somerset TA1 5AJ2
£295K01/240.06 mi2, Essex Drive, Taunton, Somerset TA1 4JY2
£290K03/230.1 mi15, Suffolk Crescent, Taunton, Somerset TA1 4JL2
£242.5K04/210.11 miLittle Dalbrack, Shepherds Hay, Taunton, Somerset TA1 5NY2
£320K07/230.11 mi7, Suffolk Crescent, Taunton, Somerset TA1 4JL2
£320K01/240.11 mi5, Suffolk Crescent, Taunton, Somerset TA1 4JL2
£245K11/230.16 mi8, Bovet Close, Taunton, Somerset TA1 4NY2
£310K03/230.19 mi16, Langham Drive, Taunton, Somerset TA1 4LJ2
£260K05/210.19 mi16, Galmington Lane, Taunton, Somerset TA1 5DG2
£270K11/200.2 mi4, Scafell Close, Taunton, Somerset TA1 4LF2
£275K08/210.25 mi6, Norwich Close, Taunton, Somerset TA1 4LH2
£172.5K12/200.3 mi69, Queensway, Taunton, Somerset TA1 4NJ2
£310K11/210.3 mi109, Queensway, Taunton, Somerset TA1 4NJ2
£170K02/210.3 mi103, Queensway, Taunton, Somerset TA1 4NJ2
£335K12/230.31 mi7, Hoopers Close, Taunton, Somerset TA1 5PN2
£204K12/230.32 mi101, Comeytrowe Lane, Taunton, Somerset TA1 5QG2
£275K07/230.33 mi6, Queensway, Taunton, Somerset TA1 4LD2
£250K09/230.33 mi100, Queensway, Taunton, Somerset TA1 5QT2
£132.5K06/210.36 mi22, Chapman Court, Taunton, Somerset TA1 4YB2
£242K11/200.38 mi65, Deane Drive, Taunton, Somerset TA1 5PP2
£285K11/200.38 mi2, Outer Gullands, Taunton, Somerset TA1 4SH2
£236K12/200.38 mi74, Manor Orchard, Taunton, Somerset TA1 4SQ2
£285K03/240.38 mi53, Manor Orchard, Taunton, Somerset TA1 4SQ2
£380K10/230.41 mi1, Ramshorn Green, Taunton, Somerset TA1 4SL2
£204K01/210.44 mi67, Musgrove Road, Taunton, Somerset TA1 5LE2
£325K08/230.44 mi2, Ramshorn Place, Taunton, Somerset TA1 4SW2
£170K12/200.46 mi18, Musgrove Road, Taunton, Somerset TA1 5LB2
£340K06/230.47 mi10, Manor Orchard, Taunton, Somerset TA1 4PS2
£262K09/230.47 mi9, Poundisford Close, Taunton, Somerset TA1 4TF2
£260K12/200.49 mi2, Inner Gullands, Taunton, Somerset TA1 4SP2
£308K06/210.52 mi5, The Spinney, Taunton, Somerset TA1 4RY2
£250K12/200.52 mi35, Parkfield Drive, Taunton, Somerset TA1 5BY2
£335K02/210.52 mi11, Manor Orchard, Taunton, Somerset TA1 4PR2
£297.5K11/230.57 mi5, Parkfield Crescent, Taunton, Somerset TA1 4RX2
£285K03/210.57 mi9, Parkfield Crescent, Taunton, Somerset TA1 4RX2
£310K04/240.57 mi11, Parkfield Crescent, Taunton, Somerset TA1 4RX2
£360K12/200.57 mi7, New Road, Trull, Taunton, Somerset TA3 7NJ2
£875K02/210.58 mi49, Trull Road, Taunton, Somerset TA1 4QN2
£269.9K01/210.59 mi12, Mountway Road, Bishops Hull, Taunton, Somerset TA1 5LR2
£215K11/200.6 mi47, Gillards, Bishops Hull, Taunton, Somerset TA1 5HH2
£280K06/230.6 mi83, Gillards, Bishops Hull, Taunton, Somerset TA1 5HH2
£282.5K06/230.6 mi45, Gillards, Bishops Hull, Taunton, Somerset TA1 5HH2
£315K12/230.66 mi13, Manor Drive, Taunton, Somerset TA1 4RP2
£195.5K01/210.68 mi14, Linnet Close, Bishops Hull, Taunton, Somerset TA1 5EY2
£254K10/230.73 mi7, Barton Green, Trull, Taunton, Somerset TA3 7NA2
£154K07/210.73 mi55, Quartly Drive, Bishops Hull, Taunton, Somerset TA1 5BF2
£325K12/200.8 mi4, Trull Green Drive, Trull, Taunton, Somerset TA3 7JL2
£208K02/210.82 mi17, Westgate Street, Taunton, Somerset TA1 4EX2

Local Rents

23 rents from £650/mo to £1.3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,05009/240.33 miGalmington2
£95002/250.35 mi-2
£85009/240.55 miTrull Road, TAUNTON2
£1,20003/250.57 mi-2
£1,07509/240.59 miHilary Road, TAUNTON2
£1,10006/240.67 mi-2
£1,30009/240.7 miBishops Hull Hill, Bishops Hull, Taunton2
£99509/240.71 miHamwood, Taunton2
£1,25011/240.76 mi-2
£1,17508/240.76 mi-2
£1,20001/250.76 mi-2
£1,20009/240.82 miWestgate Street, Taunton, 2
£90009/240.83 miDovetail Court,park Street,taunton2
£1,05009/240.85 mi-2
£1,00001/250.85 mi-2
£75002/240.86 mi-2
£1,05009/240.88 miSouth View Terrace, Trull, TAUNTON2
£1,10009/241.08 mi-2
£89509/241.08 miUpper Wood Street, Taunton, TA12
£90009/241.13 miRichmond Road 2
£92509/241.15 miWoodstock Road, Taunton, TA12
£1,10009/241.17 miRichmond Road, TAUNTON2
£65002/251.19 mi-2

Local Area Statistics

Population in TA1

39,265

Population in Taunton

85,088

Town centre distance

1.32 miles away

Nearest school

0.20 miles away

Nearest train station

1.48 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £215,000

August 16, 2024

Floor Plans

Description

  • Semi-Detached Bungalow +
  • Two Bedrooms +
  • No Onward Chain +
  • Popular Residential Location +
  • Single Garage +
  • Off-Road Parking +

This two bedroom semi-detached 1960s style bungalow is offered to the market with vacant possession and situated within one of Taunton's most popular locations within easy reach of local amenities and Musgrove Park Hospital.

The property, which benefits from uPVC double glazing and electric storage heating, is further enhanced by a single garage and driveway alongside as well as a fully enclosed rear garden.

Internally, the property would benefit from some cosmetic updating, however offering great scope to create a superb home.

Internally, a front door leads into an entrance hall. There is a generous size living room with front aspect window. A fitted kitchen is found at the rear of the bungalow and comprises a range of wall and base units, roll edge work surfaces and tiled splashbacks with space for cooker, space for washing machine, space for tall fridge/freezer. From the kitchen, there is access to a garden room with further access to the rear garden. There are two bedrooms and a wet room that comprises of wc, wash hand basin and electric shower. Externally, the rear garden is fully enclosed and has an area of lawn with a raised gravelled area towards the back. There is a single garage with electric, power and light as well as a driveway offering off-road parking for two family vehicles.

GENERAL REMARKS AND STIPULATIONS:
Tenure: The property is offered for sale freehold by private treaty with vacant possession on completion.
Services: Mains water with meter, mains electricity, mains drainage, electric storage heating.
Local Authority: Somerset Council, County Hall, The Crescent, Taunton, Somerset, TA1 4DY
Property Location: w3w.co/lower.turkey.visit
Council Tax Band: C
EPC: E
Broadband Availability: Superfast with up to 126 Mbps download speed and 20 Mbps upload speed.
Mobile Phone Coverage: Indoor-voice likely with O2. Outdoor-voice & data likely with EE, Three, O2 & Vodafone.
Flood Risk: Rivers & Sea-very low. Surface water-low.
Agents Note: We understand the property is of steel frame construction.

IMPORTANT NOTICE Wilkie May & Tuckwood for themselves and for the vendors of the property, whose agents they are, give notice that: 1. the particulars are intended to give a fair and substantially correct overall description for the guidance of intending purchaser and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice. 2. All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Wilkie May & Tuckwood has any authority to make or give any representations or warranty whatever in relation to this property on behalf of Wilkie May & Tuckwood, nor enter into any contract on behalf of the vendor. 4. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn. Photographs taken and details prepared August 2024. MEASUREMENTS AND OTHER INFORMATION All measurements are approximate and have been taken by Nichecom. While we endeavour to make our sales particular accurate and reliable, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the information with you.
Code of Practice for Residential Estate Agents: Effective from 1 August 2011:
'8. Financial Evaluation 8a At the time that an offer has been made and is being considered by the seller, you must take reasonable steps to find out from the prospective buyer the source and availability of his funds for buying the property and pass this information to the seller. Such information will include whether the prospective buyer needs to sell a property, requires a mortgage, claims to be a cash buyer or any combination of these. Such relevant information that is available should be included in the Memorandum of Sale having regard to the provisions of the Data Protection Act.8b These reasonable steps must continue after acceptance of the offer until exchange of contracts (in Scotland, conclusion of missives) and must include regular monitoring of the prospective buyer's progress in achieving the funds required, and reporting such progress to the seller.
The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for their purpose. A Buyer is advised to obtain verification from their solicitor or surveyor. References to the Tenure of the Property are based on information supplied by the Seller. The agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.

Agent Details

Wilkie May & Tuckwood, Taunton

01823 212604

Next Steps?

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