2 Bed Flat, Single Let, Southampton, SO18 1BQ, £90,000

390c Bitterne Road, Bitterne, SOUTHAMPTON, Hampshire, SO18 1BY - 8 months ago

Leasehold
Auction
BTL
ROI: 20%
~61 m²
+9 photos

ValuationUndervalued

Sold Prices£110K - £212K
Sold Prices/m²£1.8K/m² - £4K/m²

 

 

Square Metres

~61.30 m²
Price/m²£1.5K/m²

Value Estimate

£110,700
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£22,500

Stamp Duty & Legal Fees

£5,700

Total Cash In

£28,200

 

 

Cash Out

 

Rent Range

£825 - £1,450

Rent Estimate

£956

Running Costs/mo

£492

Cashflow/mo

£464

Cashflow/yr

£5,563

ROI

20%

Gross Yield

13%

Local Sold Prices

45 sold prices from £110K to £212K, average is £160K. £1.8K/m² to £4K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£175K03/230.14 miFlat 4, Beech Court, Beech Avenue, Southampton SO18 4TS2
£156K04/210.37 miFlat 3, Christine Court, Cobbett Road, Bitterne Park, Southampton SO18 1RD2
£125K06/210.39 mi25, Neva Road, Southampton SO18 4FH2
£166K07/230.43 mi2c, Edwina Close, Southampton SO19 7BJ2
£177.5K01/210.45 miFlat 20, Deepdene, Midanbury Lane, Southampton SO18 4TQ2
£185K09/210.45 miFlat 21, Deepdene, Midanbury Lane, Southampton SO18 4TQ2
£125K04/210.49 mi159, Wavell Road, Bitterne, Southampton SO18 4SF2
£127K07/210.49 mi191, Wavell Road, Southampton SO18 4SG2
£155K03/210.52 mi4, Thruxton Court, Southampton SO19 7AA2
£138K02/210.53 mi18, The Oaks, Southampton SO19 7RP2
£110K01/210.53 mi9, The Oaks, Southampton SO19 7RP2
£138K10/210.53 mi6, The Oaks, Southampton SO19 7RP2
£123K04/230.58 mi4, Summit Way, Southampton SO18 4ST2
£155K12/200.61 mi79c, Commercial Street, Southampton SO18 6AD2
£169K05/210.61 mi33, Vale Drive, Southampton SO18 4SW2
£145K08/210.62 mi72b, Bitterne Road West, Southampton SO18 1AP2
£133K08/210.63 mi137, Vanguard Road, Southampton SO18 2EH2
£202K09/230.64 mi18, Riverdene Place, Southampton SO18 1UG2
£195K12/220.65 miFlat 22, Eastside Court, Langstaff Way, Southampton SO18 6NP2
£180K03/230.65 miFlat 20, Eastside Court, Langstaff Way, Southampton SO18 6NP2
£165K04/210.65 miFlat 12, Eastside Court, Langstaff Way, Southampton SO18 6NP2
£170K07/230.65 miFlat 10, Charden Court, York Drove, Bitterne, Southampton SO18 5LZ2
£205K05/210.66 mi68, Riverdene Place, Southampton SO18 1UH2
£165K05/230.66 mi30, Witts Hill, Southampton SO18 4QF2
£120K06/230.66 mi30, Hood Road, Southampton SO18 5PD2
£168K12/200.67 mi11a, St Catherines Road, Southampton SO18 1LL2
£155K03/210.67 mi32a, St Catherines Road, Southampton SO18 1LJ2
£212K04/230.73 mi23a, Hillside Avenue, Bitterne Park, Southampton SO18 1LD2
£180K12/220.74 mi27, Moorlands Crescent, Southampton SO18 5QS2
£127.5K04/210.74 mi40, Keynsham Road, Southampton SO19 5EW2
£159K01/210.76 mi22, Portway Close, Bitterne, Southampton SO18 5SW2
£153K12/220.77 mi43, Redcote Close, Southampton SO18 5SU2
£169K07/230.85 miFlat 4, Thornhill Court, Bursledon Road, Southampton SO19 8QR2
£160K11/200.85 miFlat 7, Castle Heights, Castle Road, Midanbury, Southampton SO18 1TY2
£137K12/220.89 mi7, Meggeson Avenue, Southampton SO18 2ET2
£130K01/210.89 mi3, Meggeson Avenue, Southampton SO18 2ET2
£180K04/230.9 mi34, Cornwall Road, Southampton SO18 2QZ2
£135K11/200.91 mi26, Middleton Close, Southampton SO18 2FP2
£130K02/210.92 miFlat 21, Fir Tree Court, West End Road, Southampton SO18 6RW2
£195K06/230.92 miFlat 19, St Michaels Court, Priory Close, Southampton SO17 2FR2
£170K07/230.92 mi217, Priory Road, St Denys, Southampton SO17 2LR2
£132K04/210.92 mi9, Dyneley Green, Southampton SO18 2EZ2
£168K06/210.95 mi31, Adelaide Road, Southampton SO17 2HU2
£170K12/200.97 mi43, Kenson Gardens, Sholing, Southampton SO19 8RE2
£167K08/210.99 mi100b, Adelaide Road, Southampton SO17 2HX2

Local Rents

27 rents from £825/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,45009/240.24 mi-2
£1,20009/240.25 miBitterne Road, SOUTHAMPTON2
£1,10009/240.27 miMidanbury Lane, Southampton, SO182
£1,10012/240.35 mi-2
£1,20009/240.39 miPound Street SILVER SUB, Bitterne, Southampton, Hampshire, SO182
£1,20009/240.41 miBullar Road, Southampton2
£1,07509/240.41 miBullar Road, Southampton, SO182
£82502/240.44 mi-2
£1,20009/240.44 miMidanbury Lane, Bitterne Park2
£1,25009/240.44 miMidanbury Lane, Midanbury2
£1,00004/250.45 mi-2
£1,22509/240.47 mi-2
£1,22509/240.47 miWoodlands Court, Southampton, SO182
£1,20009/240.47 miCobden Avenue, Southampton, Hampshire, SO182
£1,25009/240.47 miBullar Road, SOUTHAMPTON2
£1,20010/240.52 mi-2
£1,20009/240.53 miThe Oaks, SOUTHAMPTON2
£85003/250.54 mi-2
£1,20009/240.55 miWhites Road, SOUTHAMPTON2
£95009/240.55 miWhitworth Crescent, Southampton2
£1,00009/240.56 mi-2
£1,10010/240.56 mi-2
£87509/240.6 miMerryoak Road, Southampton2
£1,35009/240.61 miBitterne Road East, Bitterne2
£99501/250.61 mi-2
£1,37509/240.61 miCommercial Street, SOUTHAMPTON2
£1,00011/240.62 mi-2

Local Area Statistics

Population in SO18

36,538

Population in Southampton

428,247

Town centre distance

1.16 miles away

Nearest school

0.10 miles away

Nearest train station

0.44 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Seller's market

Capital growth (5yrs)

+19%

Property History

Price changed to £90,000

January 31, 2025

Price changed to £120,000

December 26, 2024

Listed for £140,000

August 16, 2024

Floor Plans

Description

  • Sale by Modern Auction (T&Cs apply) +
  • Subject to an undisclosed Reserve Price +
  • Buyers fees apply +
  • First Floor +
  • 2 Bedrooms +
  • Large Living Space +
  • Ideal For First Time Buyers +

SUMMARY
Two bedroom apartment: double and single rooms, large open lounge layout. Well-maintained, and a first-floor location for convenience and views. Ideal for those seeking a practical yet comfortable living space.

DESCRIPTION
This well-maintained first-floor apartment features two bedrooms: one spacious double and one cozy single. The living space is designed for practicality. The double bedroom offers ample space and natural light, while the single bedroom can serve as a comfortable retreat or home office.

The first-floor location offers easy access and scenic views, enhancing the overall appeal of the property.

In summary, this two-bedroom apartment presents a formal yet functional living space, with a focus on practicality and convenience. The well-maintained condition and first-floor setting make it an appealing option for those seeking a straightforward and comfortable home.

Auctioneer's Comments 
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of £300 inc VAT towards the preparation cost of the pack.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Hall 
Stairs leading to landing

Landing 
Access to loft void, radiator, storage cupboard.

Lounge/dining Room 16' 1" into bay x 13' 8" max ( 4.90m into bay x 4.17m max )
Upvc double glazed bay window to front aspect, radiator, picture rail.

Kitchen 7' 5" x 6' 9" ( 2.26m x 2.06m )
Upvc double glazed window to front aspect, matching range of eye and base level units with work surface over, tiled surrounds, four ring gas hob with hood over, built-in oven, space for fridge/freezer, plumbing for washing machine, stainless steel sink drainer, wall mounted boiler, radiator, tiled effect flooring.

Bedroom One 10' 9" max x 11' 6" max ( 3.28m max x 3.51m max )
Upvc double glazed window to rear aspect, radiator.

Bedroom Two 10' 4" max x 9' 3" max ( 3.15m max x 2.82m max )
Upvc double glazed window to rear aspect, radiator.

Bathroom 
Upvc obscure double glazed window to side aspect, radiator, wc, wash hand basin, bath with shower and screen, tiled surrounds.

. 

Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

Fox & Sons, Bitterne

0238 254 4479

Next Steps?

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